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SendGrid Announces Series D Funding of $33 Million Led by Bain Capital Ventures

Additional Financing Sets Stage for Next Phase of Profitable Growth for Leader in Customer Communications & Cornerstone in the Developer Economy

DENVER, Nov. 30, 2016 /PRNewswire/ -- SendGrid, the leading delivery platform for customer communication that drives engagement and growth, today announced that is has closed $33M in a Series D round of funding. The round involves previously existing SendGrid investors, and was led by Bain Capital Ventures, together with Foundry Group, Bessemer Venture Partners and SofTech VC and will be used to accelerate SendGrid's product roadmap, including enhancing the company's Marketing Campaigns email marketing product and its Expert Services offerings. The capital will also accelerate SendGrid's global expansion plans and provide the company with additional flexibility to execute on strategic opportunities.

"We are thrilled to put additional capital on our balance sheet to provide us with flexibility to continue investing in our exciting opportunity. We are proud to receive this endorsement from our existing investor team, and appreciate their continued support as we build the world's most trusted communications platform that drives growth for our customers," said Sameer Dholakia, CEO, SendGrid.

SendGrid's roots are in the bedrock of the developer API economy and its email platform is at the gravitational center of digital customer communications. Seven years ago, its three developer founders set out to build a better way to send email, creating the first cloud-based email communications platform. Since that time, SendGrid has attracted a fiercely loyal following among developers by providing easy-to-use APIs, scalable email sending infrastructure and industry-leading customer support. Over time, as the company's customer base diversified, SendGrid expanded its customer offerings by providing an expansive email marketing product powering a marketer's ability to easily send promotional communications and just recently launched Expert Services that enable all of its customers to more effectively communicate through email.

Today, SendGrid powers customer communications for over 42,000 paying customers, including many of the world's leading digital and traditional brands including Airbnb, Costco, eBay, Spotify, Uber and Yelp. The company is driving digital conversations at scale by sending over 1 billion emails per day on behalf of over 120,000 total active customers from over 100 countries around the world. 

"We are pleased to help further the development of SendGrid's product roadmap and expansion plans," said Ajay Agarwal, Managing Director at Bain Capital Ventures. "SendGrid provides a powerful communication platform for developers and marketers around the world to drive engagement and growth in their businesses. We're excited to lead this new round of growth capital." 

About SendGrid:
SendGrid is a proven, cloud-based customer communication platform that drives engagement and business growth. A leader in email deliverability, SendGrid successfully delivers over 30 billion emails each month for Internet and mobile-based customers like Airbnb, Pandora, HubSpot, Spotify, Uber and FourSquare as well as more traditional enterprises like Intuit and Costco. For more information, visit www.sendgrid.com.

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/sendgrid-announces-series-d-funding-of-33-million-led-by-bain-capital-ventures-300370295.html

SOURCE SendGrid

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