Total amount raised
$152.7 Million
Latest funding date
9/1/2021
Location
Sendoso has successfully raised funds through five distinct funding rounds, with the most recent being a Series C round. The company has attracted a total of 11 investors, including notable names like Storm Ventures and Stage 2 Capital.
Sendoso's platform specializes in personalized gifting, eGifts, and virtual experiences, aiming to help businesses connect and drive revenue. Keep reading to explore the intricacies of Sendoso's fundraising journey and the investors backing this innovative platform.
What Is Sendoso?
Sendoso, based in San Francisco, California, operates in industries such as B2B, Direct Sales, Marketing Automation, SaaS, and Sales Automation. The company has between 251-500 employees and specializes in personalized gifting, eGifts, and virtual experiences to help businesses connect and drive revenue.
As a leading platform for personalized gifting and direct mail, Sendoso leverages AI-powered tools to facilitate meaningful connections and measurable revenue growth. The platform offers features like global fulfillment, secure address confirmation, and integrations with various tech stacks, serving teams in Marketing, Sales, Customer Experience, and People Teams.
How Much Funding Has Sendoso Raised?
- Series C
- Amount Raised: USD 100,000,000
- Date: September 2021
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform, expand product offerings, and grow the company's presence in Europe.
- Series B
- Amount Raised: USD 40,000,000
- Date: February 2020
- Lead Investors: Oak HC/FT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: June 2019
- Lead Investors: Stage 2 Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and development.
- Series A
- Amount Raised: USD 10,700,000
- Date: February 2019
- Lead Investors: Craft Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Seed
- Amount Raised: USD 2,000,000
- Date: February 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch the platform and begin scaling operations.
Total Amount Raised: USD 152,700,000. Current Valuation: Not publicly disclosed.
Key Investors
- SoftBank Vision Fund 2
- Details: SoftBank Vision Fund 2 is a venture capital fund managed by SoftBank Investment Advisers. It focuses on investing in technology-driven companies poised for significant growth.
- Investment Focus Areas: Technology, AI, Robotics, IoT
- Notable Investments: Uber, WeWork, DoorDash
- Oak HC/FT
- Details: Oak HC/FT is a venture capital firm that invests in early to growth-stage companies in the healthcare and financial technology sectors. The firm aims to partner with entrepreneurs to build successful businesses.
- Investment Focus Areas: Healthcare, Financial Technology
- Notable Investments: Devoted Health, Poynt, Lime
- Stage 2 Capital
- Details: Stage 2 Capital is a venture capital firm that specializes in scaling sales and marketing for B2B companies. It is known for its hands-on approach to helping startups grow.
- Investment Focus Areas: B2B Software, Sales, Marketing
- Notable Investments: Gong.io, Outreach, SalesLoft
- Craft Ventures
- Details: Craft Ventures is a venture capital firm that invests in early-stage and growth-stage technology companies. The firm is co-founded by David Sacks, a well-known entrepreneur and investor.
- Investment Focus Areas: Early-Stage Technology, Growth-Stage Technology
- Notable Investments: Bird, SpaceX, Reddit
- Struck Capital
- Details: Struck Capital is a venture capital firm that focuses on early-stage technology companies. The firm aims to support innovative startups with the potential for significant impact.
- Investment Focus Areas: Early-Stage Technology
- Notable Investments: Mythical Games, Scratchpay, Postmates
What's Next for Sendoso?
Sendoso is poised for significant growth, with opportunities to expand its global footprint and enhance its platform. The recent $100 million Series C funding will be instrumental in opening a new European headquarters in Ireland and increasing the workforce by 30%. This expansion aligns with industry trends emphasizing personalized engagement and global logistics capabilities.
Future fundraising opportunities seem promising, given the company's quadrupled valuation and the involvement of high-profile investors like SoftBank Vision Fund 2. These factors suggest that Sendoso could attract additional investments to further scale its operations and market reach.
However, challenges lie ahead. Managing rapid expansion while maintaining high service standards and navigating global logistics complexities will be crucial. Competition from other corporate gifting platforms also remains a significant hurdle. Despite these challenges, Sendoso's strategic plans and robust funding position it well for continued success.
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