California based start-up Lob has secured USD 50 million in a series C funding round led by Indicator Ventures on 25th of February, 2021. The association has till now secured a total amount of USD 121.4 million.
Investors: The acquisition of USD 50 million funds took place in series C round led by Indicator Ventures along with the participation from previous investors like Y Combinator Continuity Funds, First Round Capital and Scrum Ventures.
What the funding is for: The fresh funding would be capitalized for the development and improvement of their infrastructure. According to sources the company is also aiming to triple the amount of physical mail delivered through the platform this year which means the round would allow it to continue expanding the Print delivery network.
Founders of the company: Harry Zhang and Leore Avider
About the company: Lob is a privately held organization which operates under the computer software industry. Its headquarters is established in San Francisco, California and has a work strength of around 51-200 employees. They also deal with various specialties like APIs, shipping, address verification and printing. Lob is basically an organization which offers direct mail and address verification APIs which allows businesses to send personalized mail to their clients.
What the CEO has to say: “Marketing as a whole is always trying to find a unique channel in order to make their customer aware of whatever their call to action is. Right now, social is really expensive, Google AdWords is super expensive with email you can easily unsubscribe. No one has been paying attention to direct email and the prices do not scale with supply and demand.” — Harry Zhang, Co-founder of Lob.
“In a digital age there are two main categories of physical mail which Lob continues to support for its customers. First there is mail sent for a regulatory purpose, in other words mail that businesses are legally required to send in printed form. Second there is a direct mail sent as marketing, which many companies are rediscovering.” — Leore Avider, Co- founder of Lob.
What the investors have to say: “Lob is leading the digital transformation of direct mail, a business process used by every company on Earth which has remained virtually untouched by software. Lob’s platform delivers exceptional value to some of the world’s largest senders of direct mail by lowering cost and improving deliverability, tracking and reporting. Even for the most sophisticated senders of direct mail, Lob’s API driven product is vastly superior to legacy approaches.” — General Manager at Indicator Ventures.
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