In a recent development in the tech industry, Postscript, an SMS marketing platform for Shopify stores, has raised $35 million in a Series B funding round. The funding round was led by Greylock, a venture capital firm based in California, and included participation from existing investors, including Y Combinator.
Postscript’s Growth Trajectory
Postscript was founded in 2018 and has since grown rapidly. The platform offers Shopify store owners a simple and effective way to communicate with their customers via SMS. With the rise of mobile commerce, Postscript has been able to carve out a niche in the SMS marketing space.
Postscript has experienced significant growth since its inception. The company has reported a 400% increase in revenue in 2020, and the platform has been used to send over 300 million text messages to date. Postscript’s success can be attributed to its ease of use, powerful integrations, and exceptional customer service.
The Implications of the Greylock Investment
Greylock’s investment in Postscript is a significant milestone for the company. Greylock is a well-respected venture capital firm that has backed many successful companies, including Facebook, Airbnb, and LinkedIn. With Greylock’s investment, Postscript has gained a powerful ally in the tech industry.
In addition to the financial investment, Greylock’s experience and expertise will be invaluable to Postscript. Greylock has a long track record of helping early-stage companies grow and scale, and Postscript is no exception. With Greylock’s support, Postscript is well-positioned to continue its growth trajectory and become a leader in the SMS marketing space.
The Role of Y Combinator
Y Combinator, one of Postscript’s existing investors, also participated in the funding round. Y Combinator is a well-known startup accelerator that has helped many successful companies get off the ground. Y Combinator’s continued support of Postscript is a testament to the company’s potential.
Y Combinator’s involvement in Postscript’s growth is also noteworthy because it underscores the importance of early-stage support for startups. Without the support of investors like Y Combinator, many startups would struggle to get off the ground. The continued support of early-stage investors like Y Combinator is essential for the growth and success of the tech industry as a whole.
The Future of Postscript
With the support of Greylock and Y Combinator, Postscript is poised for continued growth and success. The SMS marketing space is still relatively new, and there is a lot of room for innovation and disruption. Postscript’s ease of use, powerful integrations, and exceptional customer service give it a competitive advantage in the space.
As mobile commerce continues to grow, SMS marketing is likely to become even more important for online retailers. Postscript is well-positioned to capitalize on this trend and become a leader in the space. With Greylock and Y Combinator by its side, Postscript’s future looks bright.