Sendoso, a leader in direct-to-consumer gifting, recently received $25 million in Series B funding. This funding round was led by global growth equity firm Summit Partners with additional participation from existing investors including GV (formerly Google Ventures) and Tenaya Capital. The new capital will be used to enhance the company’s platform to better serve its rapidly growing base of customers.
Sendoso’s streamlined user interface and intuitively designed platform simplifies one-to-one marketing, automates digital gifting experiences, and allows you to easily track results and ROI with real time data. In addition, it offers customers personalised eGifting experiences, such as thoughtful gifts sent at the right time and place. Its goal is to make upgrading customer engagement experiences easier by enabling real-time connections through digital gift messaging.
The new funding will go towards allowing Sendoso to expand its offerings by providing greater access to their eGifting capabilities across the world; invest in the development of a rewards marketplace for customers; continue building out its Salesforce integration tools; and explore strategic partnerships across the globe pinioned with additional research on market insight data analysis. With this investment Sendoso is set for rapid expansion and further innovation into 2020 and beyond.
Overview of Sendoso
Sendoso is a San Francisco-based B2B gifting and engagement platform that has raised $100 million in a Series C round led by SoftBank Vision Fund 2. The new funding round will enable Sendoso to expand its gifting and engagement capabilities to better meet the needs of its customers.
Let’s take a closer look at what Sendoso is all about.
What is Sendoso?
Sendoso is an innovative platform enabling businesses to connect with customers and prospects through customised, physical and digital experiences. Through their proprietary technology, Sendoso has developed a cloud-based platform that streamlines the process of sending personalised gifts and physical content. In addition, they provide enterprise customers with the tools to scale their gifting capabilities, like data-driven insights, detailed reporting, and customer satisfaction tracking.
Sendoso’s mission is to help businesses increase customer loyalty by delivering memorable experiences that their prospects cannot ignore. The company recently announced a series A funding round of $59 million to further its innovative solution for enterprise users and build out comprehensive capabilities around physical customer engagement on a global scale. By combining core technologies in shipping, warehousing, machine learning and CRM integration with an expanding portfolio of gifting options they are creating something exciting; an industry-leading service to empower brands to maximise ROI on their marketing efforts.
What services does Sendoso offer?
Sendoso is a leading platform that helps businesses own and operate their gifting experiences. The company recently announced that it has raised $50 million in a Series C funding round, which will support ongoing product development to ensure best-in-class user outcomes.
Sendoso’s platform enables businesses to easily create, manage and customise unique gifting experiences from physical items like food, flowers and drinks to digital experiences like customised videos and high-value corporate gifts.
The Sendoso platform includes creating custom landing pages for gift campaigns, connecting with global fulfilment services, maintaining a live inventory of who was sent what for audit purposes and analysing recipient engagement so businesses can further optimise their campaigns.
In addition, Sendoso’s suite of AI-driven features help outbound sales teams deliver personalised gifting experiences with increased speed and accuracy – enabling them to increase customer engagement while at the same time reducing effort needed by sales reps. Several levels of service are available on the Sendoso platform to meet every need, from one-off individual gifts to large scale enterprise customer outreach campaigns.
Sendoso Raises $100 Million Series C Led By SoftBank Vision Fund 2
Sendoso, the leading B2B engagement platform, has just raised $100 million in a Series C funding round led by the SoftBank Vision Fund 2.
This new round of financing is expected to accelerate the company’s growth and pave the way for future product innovations.
Let’s dive into the details of the new funding and what Sendoso plans to do with it.
Amount of funding
On August 1, 2019, Sendoso, the leading send-by-mail marketing platform, announced that it had raised a $30 million series B funding round, bringing its total funding to $47.6 million.
Insight Venture Partners led the new round. According to Sendoso CEO and Co-founder Ray Grady, this is the largest single investment that has been made in the company so far. Existing investors including Emergence Capital, Storm Ventures and Salesforce Ventures also participated in the round.
Sendoso plans to invest money in helping their team grow and expand their product offering globally. The funds will also go towards developing more automation tools to help customers simplify their ability to execute campaigns across multiple channels easily. In addition they plan on investing into further research on inventory tracking technology and machine learning technologies to offer true end-to-end solutions for send-by-mail marketing teams worldwide.
Grady Sendoso will be hiring across multiple departments, including engineering and sales teams throughout 2020 and beyond, to manage this growth efficiently.
Lead investor in the Series A funding round was Tiger Global with participation from existing investors and additional new investors. Sendoso’s total raised to date is now $83.5M with this new successful financing round.
The investment will be used to advance the growth and expansion of the Sendoso Platform, allowing customers to use it in a more comprehensive and streamlined way that gives them access to a richer set of capabilities – right out of the box.
It also plans to leverage its resources towards helping families alleviate the one-time expense they incur while bearing the extra burden during financial stress — through donations and discounted rates for health care services such as telemedicine platforms, food delivery apps etc.. The company also plans to deepen investments in patient compliance optimization using predictive AI technologies, so clinicians can better anticipate, intervene, and manage variation in care delivery across settings.
Sendoso recently raised $73 million in a Series C funding round and is the first company in its class to do so. The participants include other well-known investors, such as Formation 8, Emergence Capital, Redpoint Ventures, M12 (Microsoft Venture), Northgate Capital and Felicis Ventures.
The new funds will be used to expand outside the U.S., starting with Canada and Europe. It also plans to invest in product developments for teams, including return-on-investment tracking; an improved recommendation system that proactively proposes what content works best based on industry and audience insights; deeper integration with marketing automation systems; and dynamic support from SalesforceIQ Relationship Intelligence.
The additional funds will also help Sendoso acquire new customers through sales capacity investments across geographies like Europe and APAC regions, drive growth with digital partnerships such as its recent one with LinkedIn Sales Navigator and build out its professional services team for a range of offerings such as campaign strategy consulting, project management support, API integrations and technical training for customers.
What Sendoso Plans to do With the Funding
Sendoso, a business gifting platform, recently announced closing a $100 million Series C led by SoftBank Vision Fund 2. This brings the total funding raised by Sendoso to $155 million and this round of funding is expected to accelerate the company’s growth plans.
Let’s look at what Sendoso plans to do with the funding.
Expansion of product offerings
With the new funding, Sendoso is investing in further expanding its product offering to help customers create successful gifting campaigns. In addition to its current inventory of unique and memorable products, Sendoso is focusing on adding new ways for users to personalise their gifting campaigns, such as with custom branded packaging.
Sendoso also plans to invest in scaling its data and infrastructure by allocating resources to streamline operations, reduce latency and improve reliability across the platform. As part of this expansion agenda, Sendoso will add new integrations with leading sales technologies such as Salesforce CRM so customers can easily manage their digital gifting program from one central platform.
In the coming year, Sendoso plans on launching a self-service platform that allows businesses to quickly establish a formal digital gifting strategy without hiring additional personnel or seeking external “ad hoc” support. The goal is to offer an intuitive and unified experience so businesses can quickly launch a comprehensive direct mail program tailored specifically for their needs with minimal set up time required.
Increase in customer base
The new funding that Sendoso has recently received will enable them to expand their customer base significantly. With this investment, Sendoso plans to create more user-friendly features such as an automated sender, time-saving templates, and MultiSend capabilities.
These features will help customers simplify the process of sending physical items by making it easier to quickly send out multiple packages while maintaining secure communication with their recipients. Additionally, Sendoso plans to develop a comprehensive partner program to provide customers access to a larger network of suppliers and resources.
By tapping into these resources, customers can provide the highest quality products and deliver the best experience possible for their recipients. With these changes in place, Sendoso is poised to significantly impact its customer base in terms of reach and efficiency.
Hiring of new talent
With the Series B funding round, Sendoso plans to significantly accelerate hiring new talent and increase their personnel from 40 to 70. This is a major focus for the company as they look to ensure that their core business operations are supported from within by highly-skilled teams.
To hit this goal, Sendoso has already started hiring engineers, marketing managers and customer success personnel in locations worldwide. The new funds will help Sendoso drive further innovation in their platforms and services while expanding their workforce into more global markets.
Recruiting top-tier talent is also a priority for Sendoso as they plan to constantly support their clients with outstanding service and features beyond what would normally be expected. This aligns with their mission to become the world’s leading platform for experience-driven direct mail, digital gifting and physical event activations.
tags = SoftBank Vision Fund 2, Oak HC/FT, Struck Capital, Stage 2 Capital, Craft Ventures, Signia Venture Partners, and Felicis Ventures, sendoso 100m softbank fundlundentechcrunch, sendoso 100m softbank vision fundlundentechcrunch
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