Messaging Platform Podium Raises $210M in Funding
It will be used to help the company further its customer communications and payments technology.
The company provides a wide variety of communications tools for small businesses.
It helps generate customer reviews, facilitates webchat and communication via text message, enables payment through text so customers can pay exactly how they want, handles video chat invitations, offers a platform for employee communication, and aggregates all customer messaging into one inbox so no conversation or query is overlooked.
According to Podium, it serves more than 100,000 businesses and has reached one in three cell phone users in the United States on behalf of its brands.
Investors are feeling bullish on the company; Podium has raised $201 million in Series D funding, the company announced this week.
YC Continuity led Podium’s latest funding round, which also included investments from Durable Capital Partners, Arpex Capital, Accel, Album VC, IVP, Sapphire Ventures, Summit Partners, and Sorenson Capital.
The company’s total valuation now sits at $3 billion.
Founded in 2014, Podium is headquartered in Lehi, Utah, a suburb of Salt Lake City.
"We see this as a watershed moment for local businesses all over the world, especially as the world opens up again and local businesses are tasked with meeting the changing preferences of consumers who have welcomed digital-first interactions through the pandemic,” said Eric Rea, Podium’s co-founder and CEO.
"Our goal is to help communities get back on their feet and to help local businesses participate in a meaningful way in the digital evolution happening at the local level."
YC Continuity invests in companies that empower small businesses. Its portfolio includes Stripe, Coinbase, DoorDash, Instacart, Checkr, Brex, Zapier, Fivetran, Faire, GitLab, Gusto, and Segment.
"Podium brings world-class marketing and payments tools to the small and medium businesses that power our economy and employ the lion's share of workers,” said Ali Rowghani, YC Continuity’s managing director.
“These businesses have traditionally been overlooked by technology companies. Podium's products level the playing field for SMBs and help them compete in a changing world."
Podium’s latest funding round will help it further develop its payments, communications, and marketing technology in its goal to bring analog customer service to digital platforms.
For more information on Podium’s services, visit the company’s website.
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