Paperless Post raises $25 million in funding
Paperless Post is an online startup that offers invitations and cards. Paperless Post has raised $25 million in a third round of institutional funding. August Capital led this round of funding and several existing investors participated in this round. This round of funding will be used for accelerating development of online and mobile products to increase engagement with its growing base of 45 million users.
“Paperless Post lets you communicate beautifully, conveniently, and privately about the social experiences you care about,” stated Paperless Post CEO and co-founder James Hirschfeld. The company offers paper cards and stationary. “Our goal is to become the new protocol for valued social communication, regardless of the medium you choose. We’ve always been a very capital-efficient company with strong organic growth. Adding this cash to our balance sheet will help us realize this vision faster for a greater number of people in the U.S. and abroad.”
Paperless Post sent over 100 million invitations and other stationary since launching. The user base double in 2013 for the second year in a row. Based in New York City, Paperless Post has raised a total of $37.4 million.