Scalable email delivery for transactional email.
SendGrid Raises $21 Million In Funding To Deliver More Emails
The delivery rate of email is not as spectacular as it once was and so many companies are stepping in the space in an effort to maximize on the email marketing efforts of companies and those institutions that rely on having their emails delivered and read. One such company is SendGrid, a graduate of the Techstars program started in July 2009.
Since striking out on its own, SendGrid has grown from strength to strength, so much so that it has managed to attract serious backing from top VCs. Its latest funding round was led by led by Bessemer Venture Partners. Other investors included existing backers, Foundry Group, Highway 12 Ventures, SoftTechVC, 500 Start-ups and Bullet Time Ventures. All told, the effort raised a whopping $21 million.
The new round of funding is expected to shore up operations as SendGrid prepares to scale its business and clients who currently include the likes of Foursquare, Twilio and AirBnB. Said CEO Jim Franklin: “We want to be the go-to company for transactional email.”
By the looks of things SendGrid is on its way to becoming that go-to company for mass email management, but it will still need to watch out for the big fish in the sea. Presently SendGrid faces stiff competition from Amazon Web Services and AuthSmtp and will need to step its game if it’s to compete with these heavily-funded companies.