Sendoso, a sending platform provider, has recently raised $40 million in Series B funding. This funding, in addition to being a milestone indicative of vendor and product growth, gives Sendoso the opportunity to continue building and improving on its Sending Platform. The funding round was lead by Oak HC/FT, with participation from Craft Ventures, Signia Venture Partners, Storm Ventures, Struck Capital, and Stage 2 Capital.
Sendoso was launched in 2017 with its unique Sending Platform, a fully integrated solution that enables businesses to incorporate digital and physical sending strategies into their go-to-market programs. Sendoso’s CEO and Co-Founder, Kris Rudeegraap, spent the first decade of his professional life in sales. Outbound prospecting evolved, and email marketing popularity exploded, enough so that prospects couldn’t handle the amount of messages they were receiving. He decided to branch out into sending physical marketing materials like handwritten notes and gift cards, and eventually the Sending Platform was born.
This round of funding will allow Sendoso to invest in platform R&D; hire for its product, engineering, and warehouse operations teams; and expand into new markets to enable companies across various industries to send at scale. Sendoso’s Series A in early 2019 raised $10.7 million, bringing its total amount raised to over $54 million as a private company. The jump in investment can be attributed to positive product-market fit.
“As CEO and co-founder here at Sendoso, I’m both thrilled and humbled to share that we’ve announced $40M in Series B funding,” says Rudeegraap. “This important milestone speaks to our impressive growth, provides validation for our category, and gives us the opportunity to continue building the leading Sending Platform. When my co-founder Braydan and I launched the first iteration of Sendoso, we could have never imagined that in just a few short years we’d have more than 500 customers with 15,000 active users, over one million sends processed through our platform, recognition from analysts like Gartner, and multiple leadership positions on software review sites like G2.”
Sendoso was recognized by Gartner as a 2019 Cool Vendor in Technology Marketing.
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