Postscript Raises $35M in Series B Funding to Continue Dominating the SMS Marketing Space
Postscript, the text message marketing platform for Shopify stores, recently announced a new round of Series B funding worth $35 million, with Greylock leading the investment, and participation from YC Continuity Fund and OpenView, among others.
Postscript’s Unique Selling Proposition (USP) is its capability to create a personalized and respectful way to communicate and engage with customers using SMS, which is emerging as a new category of customer communication with unprecedented engagement, ROI, and growth in brand trust. The company also aims to eliminate spammy SMS strategies and treat SMS as a personalized customer lifecycle channel.
Postscript has established itself as a trusted platform by over 3,500 ecommerce brands, including small boutique businesses, digitally-native brands, and staple retailers such as Olipop, Hydrant, Dr. Squatch, Brooklinen, Fanjoy, and Native. In 2020, brands on Postscript sent hundreds of millions of text messages, generating approximately $500 million in attributed revenue. The platform has a 5-star rating from over 1,100 reviews in the Shopify App Store and was featured as a 2021 Winter Leader on G2. It is also a member of the exclusive Shopify Plus Certified App Program.
Series B Funding Details and Company Growth
The $35 million round of funding from Greylock, YC Continuity Fund, OpenView, and other investors shows that Postscript has immense potential and a bright future ahead. Postscript also welcomes Sarah Guo and Mike Duboe, Partners at Greylock, to its Board.
The new funding will aid Postscript’s vision of building a Conversational Commerce platform that delivers many different ecommerce interactions seamlessly over SMS. Specifically, the company will focus on two areas with the funding:
- Rapid product growth: immediate investment into new first-to-market features and improvements that continue maximizing SMS as a customer lifecycle channel and delivering seamless ecommerce experiences over SMS.
- Team growth to support additional talent in customer success, engineering, and go-to-market.
Postscript CEO Adam Turner believes that ecommerce engagement and interaction will continue to happen more and more in mobile native channels like SMS. Consumers crave seamless digital experiences, and in the future, they will prefer messaging channels over mobile web.
Drew Cowan, Senior Manager of Lifecycle Marketing at Dr. Squatch, said, “We rely on Postscript for all parts of the shopper’s journey — from cart abandonment to customer education, to cross-sell and upsell opportunities. I have no doubt our profits through text message marketing will grow over the next year and beyond, especially given Postscript’s impressive product roadmap.”
Postscript’s growth is impressive, with a customer count increasing by 400% YoY since its launch in early 2019. The Postscript team size also grew by 230% in 2020 to support this rapid pace. Postscript was originally backed by Y Combinator and announced a Seed Round in December 2019.
Techcrunch And YC
Postscript has received coverage from various media outlets, such as TechCrunch and YC. TechCrunch is a website that specializes in reporting technology news related to innovation and startups. It has extensively covered Postscript’s latest developments, including its recent fundraising efforts and integration with Shopify.
YC, which stands for Y Combinator, is a startup accelerator that has provided backing for several successful startups, such as Airbnb and Dropbox. Postscript was a member of YC’s Winter 2020 cohort, and the accelerator has since then offered ongoing mentorship and support to the company.
About Postscript
Postscript is a leading ecommerce SMS platform that enables brands to communicate and engage with customers through text message marketing. The platform directly connects with Shopify and Shopify Plus merchants, allowing brands to segment lists, create deep data flows, and respect the inbox of consumers. To learn more about Postscript and its features, visit https://postscript.io.
Conclusion
With the new round of funding and its clear vision, Postscript is on its way to dominating the SMS marketing space. The company’s unique approach to personalized and respectful customer communication has won over thousands of brands, and its rapid growth is a testament to its potential. As ecommerce continues to grow, SMS is emerging as a valuable channel for customer engagement, and Post
