Postscript, which provides SMS communication solutions for ecommerce companies, has announced a new funding round of $4.5 million. The venture capital firm, Craft Ventures, led this investment round and was supported by other investors.
With this additional funding, Postscript can provide services to even more ecommerce companies, enabling them to connect with their customers over SMS more effectively.
Overview of the funding round
Shopify-integrated messaging platform Postscript recently announced the completion of their series A funding round. The round raised $4.5 million, spearheaded by Accel and Fuel Capital. The funds will be used to accelerate the startup’s growth and further develop their platforms’ capabilities in helping Shopify merchants reach customers via mobile messages (via information such as order updates, product notifications, etc.).
Postscript was founded in 2019 by lifelong entrepreneurs Jordan Gross and Jeff Tanner. The startup is set up with a members-only structure; each merchant enrolls in an annual plan instead of using credits or pay-as-you-go charges. Currently, Postscript users can send SMS events triggered from Shopify activities (such as sales activity or abandoned checkouts). Over time, additional features and performance metrics like sub user permissions, Drip Campaigns, delivery receipts and two-way conversations will be available for businesses seeking dedicated customer engagement over SMS on Shopify stores.
The funds raised in this series A round culminates a stellar year for Postscript’s founders, who also won Shopify’s Build a Bigger Business 2020 Contest earlier this year. Having recently launched posttext — an analytics and optimization tool which provides deeper insights into message marketing — they hope to use the capital raised to further improve communication between store owners and customers through technology advancements such as advanced segmentation capabilities via automated segmentation groups along with better customization options for event triggers to yield more targeted messaging campaigns.
The Postscript Story
Postscript, a messaging tool that helps Shopify shops stay connected with customers over SMS, has raised $4.5 million in a funding round led by Inovia Capital and White Star Capital.
Founded in 2017 by former Shopify engineer Ryan Probasco and former Shopify marketing manager Willa Ng, the Toronto-based startup aims to help small- and medium-sized businesses stay connected with customers through automated conversations over SMS.
Background on Postscript
Postscript is a mobile messaging platform for Shopify merchants. Founded in 2018, Postscript’s mission is to help small businesses and entrepreneurs make better connections with their customers by leveraging the power of mobile messaging.
Postscript combines highly targeted message delivery with two-way customer conversations, creating an instant connection between shop owners and customers. With Postscript, Shopify store owners can quickly and easily reach out to their customers via SMS to promote new products, provide support or conduct surveys.
In May 2020, Postscript reported a successful $4.5M seed funding round led by Craft Ventures with participation from Forerunner Ventures and several top angel investors. This funding will further develop the platform and help fuel Postscript’s growth in the coming years.
Postscript’s mission and vision
Postscript’s mission is to empower shop owners to connect with customers in a unified, secure and simple manner over SMS. With Postscript, shop owners can create seamless customer experiences that span traditional SMS and newer communication channels like Facebook Messenger.
Postscript’s vision is to be the world’s leading platform for connecting mobile shoppers with the businesses they care about. Through its flexible APIs, advanced segmentation tools, automated responder flows and comprehensive analytics suite, Postscript enables powerful customer outreach campaigns. Postscript customers can leverage their existing investments in Shopify stores to better serve customers over SMS without needing significant resources or effort.
Using encryption across all of Postscript’s operations ensures compliance with security requirements for data sharing at the enterprise and consumer levels. In addition, by investing in training materials and providing personalized support services such as one-on-one onboarding sessions, Postscript ensures shop owners are empowered to take advantage of our tool sets quickly and easily to remain focused on running their business stress-free.
Postscript raises $4.5M to help Shopify shops stay connected with customers over SMS
Shopify-based customer engagement platform, Postscript, recently raised $4.5M in a funding round. The round was led by the venture capital firms, Battery Ventures and Foundry Group, and included participation from existing investors such as Y Combinator, AngelList, and Relay Ventures.
With this funding, Postscript aims to become the go-to tool for Shopify stores to build customer relationships over SMS.
Let’s get into the specifics of the funding round.
Investors involved in the round
Postscript, a company that provides Shopify stores an easy way to stay in touch with customers using SMS messages, has recently announced the closure of a $4.5 million seed round.
The round was led by Andreessen Horowitz, a venture capital firm based in Menlo Park, California, along with Shasta Ventures’ Nishant Rao and Base10 Partners managing partner Jeff Clavier. Additional investors included Amplify LA and Enspire Capital (which connects top families with innovative founders), New York-based Bullish Ventures, Fabrice Grinda from FJ Labs, Social Leverage’s Ryan Jacoby and Bill Lee from Watchmaker Capital.
Notable angels also participated including Lindsay Kaplan (founder of Coveteur), Nathaniel Ru (founder of Sweetgreen) and Krishna Puvvada (previously at NHL). This brings Postscript’s total funding to date to $7M.
Postscript is excited to have the support of these esteemed investors as the company looks ahead to its next growth stage.
Breakdown of the funds raised
Postscript, the SMS messaging platform for Shopify merchants, announced that it has raised $4.5 million in a Series A funding round led by Betaworks Ventures. The funds will be used to deepen Postscript’s integration with Shopify, expand its product capabilities, and support its growing customer base of 20,000 stores globally.
The breakdown of the funds raised included:
- Betaworks: $2 million
- Founders Fund: $900k
- Tinycap: $1 million
- Caffeinated Capital: $500k
- Indicator Ventures: $100k
- 4 individual investors from the merchant community who are also customers of Postscript contributed an additional $100k.
These funds will enable Postscript to further develop their integration with Shopify’s eCommerce offerings, adding new features and capabilities to enhance customer communications between merchants and buyers. Additionally, proceeds will be used to hire talent and expand services into other channels such as Facebook Messenger and WhatsApp to reach more customers and enable more efficient intercommunications between them.
Impact of the Funding Round
Postscript, a Y-Combinator backed startup, recently closed a $4.5 million seed round to help Shopify merchants stay connected with their customers through text message marketing.
This funding round has been seen as an important step for the company and its mission to increase customer engagement and retention for online stores.
The following paragraphs will discuss the impact of this funding round.
Postscript’s plans for the funding
The Postscript team is actively planning to invest the $4.5 million they just raised in a funding round led by Rembrandt Venture Partners, with participation from other notable technology investors such as First Round Capital, Nextview Ventures and Expa.
Postscript plans to use the funds to expand their customer base and offer more features to their existing customers. These features include interactive campaigns such as automated surveys, polls and A/B tests that enable merchants to connect further with their customers over SMS. Additionally, merchants will have access to analytics tools to refine their SMS campaigns even further and get a better picture of customer behavior in real time.
Lastly, Postscript plans on investing in talent to continue innovating and offering the best messaging platform for Shopify online stores. This includes investing heavily in product engineering and customer success teams so that merchants get the best out of their service.
Benefits for Shopify merchants
The Postscript funding round resulted in a $4.5M investment to help Shopify merchants stay connected with their customers through text messages and other personalized communication. This innovative tool will enable businesses to engage with customers more individually, transforming the customer experience as we know it.
Shopify merchants can now utilize the Postscript platform to increase relationship building with current customers, promote loyalty offers and improve customer engagement by strategically delivering personalized content via text messages. In addition, the platform’s advanced AI allows users to create targeted campaigns which significantly boosts sales and provides valuable insight into customer shopping behaviors, allowing merchants to better identify trends in their target markets.
Postscript also reduces operational costs for Shopify merchants by eliminating the need for expensive marketing software solutions. This is because all automation, customization and analytics functions are integrated into one platform. This facilitates scalability and allows for increased experimentation as users can quickly develop multiple versions of text-based campaigns without costly investments in design or software builds. As such, users can iterate faster on ideas when testing new channels or strategies more cost effectively than before.
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