Greylock Partner and Y Combinator (YC) alumnus YC Kumarak took to TechCrunch to discuss the future of Postscript and their recent Shopify Series. The article, titled “Postscript raises $110M Series D at a $1.5B valuation, YC’s YC Kumarak on the future and why it remains focused on SMS” delves into the reasoning behind Postscript’s continued focus on SMS and what the recent Series means for the company’s growth.
The Shopify Series
Postscript, a company that provides SMS marketing solutions for Shopify merchants, recently closed a Series D round of funding for $110 million at a valuation of $1.5 billion. The funding was led by Bain Capital Ventures, with participation from existing investors including Greylock and Matrix Partners.
YC Kumarak, who led the investment in Postscript for Greylock, notes that the funding will be used to accelerate the company’s growth, particularly in product development and hiring. Kumarak also emphasizes that Postscript’s success is due in large part to its focus on the Shopify ecosystem.
The Future of Postscript
While SMS may seem like a dated technology in the age of social media and instant messaging apps, Kumarak believes that it remains a critical component of e-commerce marketing. He notes that SMS has a 98% open rate, making it a highly effective way to reach customers with targeted messaging.
Kumarak also points out that SMS is a particularly valuable tool for Shopify merchants, as it allows them to reach customers at various stages of the purchasing process. From abandoned cart reminders to post-purchase upsells, SMS can help merchants drive sales and increase customer loyalty.
Looking ahead, Kumarak is optimistic about Postscript’s future. He notes that the company has seen significant growth over the past year, with more than 4,000 Shopify merchants now using its platform. With the recent Series D funding, Postscript is well-positioned to continue expanding its offerings and serving the needs of e-commerce businesses.
The Importance of Partnerships
Kumarak also stresses the importance of partnerships in Postscript’s growth. He notes that the company has worked closely with Shopify to integrate its platform with the e-commerce giant’s offerings, and that this collaboration has been instrumental in Postscript’s success.
Kumarak also points to Greylock’s partnership with Y Combinator as another key factor in Postscript’s growth. As a YC alumnus himself, Kumarak understands the value of mentorship and support in building successful companies. He notes that Greylock’s partnership with YC has allowed the firm to identify and invest in promising startups early on, including Postscript.
Postscript’s recent Series D funding is a testament to the company’s success in providing effective SMS marketing solutions for e-commerce businesses. As Kumarak notes, the company’s continued focus on the Shopify ecosystem and partnerships with key players in the industry will be critical to its growth going forward. With the support of investors like Greylock and a strong leadership team, Postscript is well-positioned to continue driving innovation in the e-commerce marketing space.