- TextUs — an industry-leading enterprise texting solution that allows businesses to have engaging two-way conversations at scale — announced it has raised $22 million in Series C financing. These are the details.
TextUs — an industry-leading enterprise texting solution that allows businesses to have engaging two-way conversations at scale — announced it has raised $22 million in Series C financing led by Eastside Partners with participation from Access Venture Partners. The new funding round will allow TextUs to accelerate its growth through increased product innovation and go-to-market expansion.
TextUs has established a leadership position by delivering a texting platform that allows companies to maximize both reach and conversion. And as more companies seek solutions to effectively connect with customers, candidates, and employees, text messaging has become the most effective communication channel. Garnering a 98% read rate and response rate up to 10x higher than email or phone, texting’s higher engagement rate leads to higher productivity and more revenue and profitability for companies.
TextUs has established a meaningful presence in select verticals by delivering a texting platform that allows companies to engage customers and candidates at scale and convert them to two-way texting conversations that result in substantially higher close rates. And the platform’s value is further enhanced by integrations with existing enterprise software like customer relationship management and human resource management systems.
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“We’re excited to partner with TextUs to scale the team and continue building their intuitive, industry-leading platform. It’s rare to find investment opportunities where the management, technology, and market are all so strong. We look forward to working with TextUs to deliver additional innovation and customer value to the marketplace.”
— Benjamin Cobb, Partner at Eastside Partners
“TextUs is very fortunate to have forged a relationship with Eastside Partners and Access Ventures. Business texting is a $4B market on a path to exceed $15B by 2028. This investment coupled with the expertise that these firms have in marketing software will allow us to extend our leadership position in our target segments of this rapidly growing market.”
— Martin Payne, CEO of TextUs
“Access Ventures invested in TextUs because we believe in the power of text as a communication medium. We were impressed by the ability of the TextUs platform to manage billions of messages while maintaining security and compliance. We believe that texting will be integrated into many, if not most, SaaS platforms overtime and that TextUs will continue to be the preferred partner in delivering and managing large scale compliant infrastructure.”
— Frank Mendicino, Managing Partner at Access Venture Partners
