Total amount raised
$56.1 Million
Latest funding date
4/1/2022
Location
OpenPhone has successfully raised $105 million over five funding rounds, with notable investors including Slow Ventures and General Catalyst. The platform offers a comprehensive phone system designed for startups and small businesses, integrating calls, texts, and contacts into one AI-powered solution.
Keep reading to explore the intricacies of OpenPhone's fundraising journey and the investors backing this innovative platform.
What Is OpenPhone?
OpenPhone, now rebranded as Quo, 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. Recently, Quo raised $105 million to support its growth and future developments.
How Much Funding Has OpenPhone Raised?
- Seed Round (2018-08-07)
- Amount Raised: USD 120,000
- Date: August 2018
- Lead Investors: Not publicly disclosed
- 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.
- 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.
- Series A (2020-11-17)
- Amount Raised: USD 14,000,000
- Date: November 2020
- Lead Investors: Craft Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's services and customer base, enhancing the app's features and improving its market presence.
- 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.
- Series Unknown (2025-09-23)
- Amount Raised: USD 105,000,000
- Date: September 2025
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and future developments.
Total Amount Raised: USD 161,120,000. 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. They have a strong track record of supporting innovative startups and helping them scale.
- Investment Focus Areas: Technology, healthcare, consumer services
- Notable Investments: Airbnb, Stripe, Snap Inc.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on private and public companies in the global Internet, software, consumer, and financial technology industries. They are known for their significant growth investments.
- Investment Focus Areas: Internet, software, consumer, financial technology
- Notable Investments: Facebook, LinkedIn, Spotify
- Craft Ventures
- Details: Craft Ventures is a venture capital firm that focuses on early-stage and growth-stage investments in technology companies. They support startups with innovative solutions in various sectors.
- 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 a diverse portfolio and are known for their strategic support to startups.
- Investment Focus Areas: Technology, consumer, healthcare
- Notable Investments: Pinterest, Nextdoor, Blue Bottle Coffee
- Garage Capital
- Details: Garage Capital is a venture capital firm that focuses on early-stage technology startups. They provide funding and support to help startups grow and succeed.
- 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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