How Much Did OpenPhone Raise? Funding & Key Investors

What Is Quo?

Quo, formerly known as OpenPhone, is a private company based in San Francisco, California. The company operates in the B2B, Collaboration, Messaging, Productivity Tools, and Software industries. It offers an AI-powered phone system tailored for startups and small businesses, integrating calls, texts, and contacts into a single platform.

Quo has an employee count ranging from 51 to 100. The platform is designed to help businesses stay responsive and manage customer interactions efficiently. In September 2025, Quo raised $105 million in growth financing — led by General Catalyst's Customer Value Fund — coinciding with its rebrand from OpenPhone and serving nearly 90,000 businesses.

How Much Funding Has Quo Raised?

1. Seed Round (2018)
   • Amount Raised: CAD 2,600,000 (approximately USD 2M at the time)
   • Date: November 2018
   • Lead Investors: Slow Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To kickstart the development of OpenPhone's business phone services app and to gain initial traction among early adopters.
2. Seed Round (2020-01-29)
   • Amount Raised: USD 2,000,000
   • Date: January 2020
   • Lead Investors: Slow Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further develop the app and expand its user base. Participants included Y Combinator, Kindred Ventures, Garage Capital, and 122WEST Ventures.
3. Series A (2020-11-17)
   • Amount Raised: USD 14,000,000
   • Date: November 2020
   • Lead Investors: Craft Ventures (David Sacks)
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand services and customer base, enhance app features, and improve market presence. Participants included Slow Ventures, Kindred Ventures, Y Combinator, Garage Capital, and Chapter One Ventures.
4. Series B (2022-04-07)
   • Amount Raised: USD 40,000,000
   • Date: April 2022
   • Lead Investors: Tiger Global Management
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand communication and collaboration services, build deeper integrations with other productivity tools, and cater to larger organizations. Participants included Craft Ventures, Slow Ventures, Garage Capital, and Worklife Ventures.
5. Growth Financing / Series C (2025-09-23)
   • Amount Raised: USD 105,000,000 ($96M from General Catalyst's Customer Value Fund + $9M in equity from existing investors)
   • Date: September 2025
   • Lead Investors: General Catalyst (Customer Value Fund)
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support rapid product innovation, scale customer expansion, and fuel Quo's growth as an AI-driven front office solution. Existing investor participants include Craft Ventures, Slow Ventures, Garage Capital, and Y Combinator.

Total Amount Raised: At least USD 161,000,000 based on disclosed funding (excluding the 2018 CAD seed round converted to USD). Current Valuation: Not publicly disclosed.

Key Investors

• General Catalyst
  • Details: General Catalyst is a venture capital firm that invests in early-stage and growth equity companies. Its Customer Value Fund (CVF) led Quo's $105M growth financing in September 2025, contributing $96M of the total.
  • Investment Focus Areas: Technology, healthcare, consumer services
  • Notable Investments: Airbnb, Stripe, Snap Inc.
• Tiger Global Management
  • Details: Tiger Global Management is an investment firm focusing on private and public companies in global Internet, software, consumer, and financial technology industries. They led Quo's $40M Series B in April 2022.
  • Investment Focus Areas: Internet, software, consumer, financial technology
  • Notable Investments: Facebook, LinkedIn, Spotify
• Craft Ventures
  • Details: Craft Ventures is a venture capital firm focused on early-stage and growth-stage technology companies. They led Quo's $14M Series A in November 2020 and have continued to participate in subsequent rounds.
  • Investment Focus Areas: SaaS, marketplaces, e-commerce
  • Notable Investments: Airbnb, SpaceX, Slack
• Slow Ventures
  • Details: Slow Ventures is a venture capital firm that invests in early-stage companies across various sectors. They have backed Quo from the earliest seed stages through the 2025 growth financing round.
  • Investment Focus Areas: Technology, consumer, healthcare
  • Notable Investments: Pinterest, Nextdoor, Blue Bottle Coffee
• Garage Capital
  • Details: Garage Capital is a Waterloo Region-based venture capital firm focusing on early-stage technology startups. They have participated in multiple Quo funding rounds from the initial 2018 seed through the 2025 growth financing.
  • Investment Focus Areas: Technology startups
  • Notable Investments: Vidyard, Thalmic Labs, Clearbanc

What's Next for OpenPhone?

OpenPhone, now known as Quo, is poised to capitalize on the growing demand for integrated communication and collaboration tools. With over 20,000 customers and a recent $40 million Series B funding round, the company is well-positioned to expand its services and build deeper integrations with productivity tools like CRM and sales software. This expansion presents a significant opportunity to redefine business communication for small to medium-sized businesses.

Future fundraising opportunities appear promising, given the strong backing from investors like Tiger Global and Craft Ventures. As Quo continues to grow and enhance its offerings, additional funding rounds could further fuel its development and market reach. However, the company may face challenges such as competition from established players and the need to maintain seamless integration with various tools while scaling its operations.

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