Lob Raises $50 Million in Series C Funding To Scale Its Direct Mail Platform
– Lob, the leading direct mail platform, announced that it has raised $50m in Series C funding.
– Led by long-time investor Y Combinator Continuity, this new financing round brings Lob’s total capital raised to $80m.
– Over 8,500 customers, including Twitter, Expedia, Booking.com, Betterment, Clover Health, Root Insurance and ThredUp, are using Lob’s platform to automate direct mail workflows.
– One in two U.S. households have now received mail generated from Lob’s platform, and the company is on pace to triple the amount of mail it will send in a single year.
– To continue scaling its operations, Lob is expanding its print delivery network—already the largest in America.
Coterie Closes $11.5M in Series A-1 Financing
– Coterie Closes $11.5M in Series A-1 Financing
– The round was led by Intact Ventures with participation from Alpha Edison, Lackawanna Insurance Group, a subsidiary of Group1001, and previous investors, RPM Ventures, Allos Ventures, and several others.
– Coterie integrates insurance into platforms and processes that businesses already use.
– Since raising its Series A, the company has continued to team up with key platforms such as Intuit Quickbooks and Thryv to deliver business insurance through the tools and services that small business owners are already using.
– In addition, Coterie recently announced it had launched solutions to help independent agents and brokers more seamlessly sell and service small business insurance.
Kong Raises $100 Million to Accelerate Cloud Connectivity
– Kong Inc. announced it has closed $100m Series D funding.
– The round was led by Tiger Global Management with participation from existing investors Index Ventures, CRV, GGV Capital and Andreessen Horowitz as well as new investor Goldman Sachs.
– This latest round brings Kong’s total funding to $171m, tripling its valuation to $1.4bn since the Series C round.
– The company will use the capital to scale its go-to-market operations, grow world-class Engineering and Customer Experience teams, and accelerate cloud connectivity with its new SaaS-based Kong Konnect service connectivity platform.
– Kong Konnect is a full-stack service connectivity platform designed for cloud native applications and delivered as a service.