Sendoso Secures $100 Million Series C led by SoftBank Vision Fund 2 to Accelerate Global Expansion
Sending Platform pioneer establishes European hub to serve its 20,000+ global customer base
SAN FRANCISCO, September 14, 2021-- Sendoso, the leading Sending Platform, today announced it has secured $100 million in Series C funding, led by SoftBank Vision Fund 2*, with participation from existing investors Oak HC/FT, Struck Capital, Stage 2 Capital, Craft Ventures, Signia Venture Partners and Felicis Ventures. With this round, Sendoso's total funding exceeds $152 million. As the category leader, Sendoso will use the funding to accelerate the expansion of its global footprint, hiring, and product offerings.
As part of its expansion, Sendoso will open its new European headquarters, based in Ireland, with a dedicated logistics and supply chain operation to further support its 20,000 global users from customers including Comcast, Kimpton Hotels, Thomson Reuters, Nasdaq, eBay, and others. Sendoso currently has over 500 employees across the U.S., Europe, and the Asia Pacific and will increase its workforce by 30% by the year-end.
"We believe Sendoso offers the most comprehensive end-to-end gifting platform in the market," said Priya Saiprasad, Partner at SoftBank Investment Advisers. "Their platform includes a global marketplace of curated vendors, seamless integration with existing tools, global logistics, and deep analytics. As a result, Sendoso serves as the backbone to enterprises' engagement programs with prospective customers, existing customers, employees and other key stakeholders. We're excited to lead this Series C round to help Sendoso accelerate its vision."
"Sendoso combines an advanced SaaS platform with the marketplace selection and logistics precision of Amazon.com. This unique combination delivers on-brand execution at scale for corporate gifting," said Kris Rudeegraap, CEO and co-founder of Sendoso. "This funding round is a major milestone for Sendoso and will help us expand our products, services and global footprint."
Founded in 2016, Sendoso is the pioneer and a category leader, with more customers, capital, and employees than any other vendor. With an acclaimed customer success team that offers consultative advice to businesses on how to build meaningful relationships through personalized engagement strategies, Sendoso has been named a leader across nine categories by G2 Crowd. Sendoso customers benefit from the industry's most diverse roster of 30,000 gift options and global warehouses in North America, Europe, and Asia that have handled upwards of 3 million sends in over 165 countries.
Sendoso, the leading Sending Platform, is the most effective way for revenue-driving teams to stand out with new ways to engage at strategic points throughout the customer journey. By sending personalized gifts, branded swag, eGifts, and virtual experiences at scale, Sendoso customers see significant time savings per campaign, an increase in conversion rates, and higher retention rates. Founded in 2016, Sendoso is backed by $152M in venture funding and has a global footprint, with a presence in North America, Europe, and the Asia Pacific. Learn more at https://sendoso.com/.
*As of the date of this press release, SoftBank Group Corp. has made capital contributions to allow investments by SoftBank Vision Fund 2 ("SVF 2") in certain portfolio companies. The information included herein is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy limited partnership interests in any fund, including SVF 2. SVF 2 has yet to have an external close, and any potential third-party investors shall receive additional information related to any SVF 2 investments prior to closing.
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