By Brian Kovalesky, StartUp Beat Editor
Today’s early-stage startup funding and acquisitions news:
Outbox, which digitizes snail mail and makes it available for secure viewing online, has closed a $5 million Series A funding round. It was led by previous investor Floodgate Ventures and included participation from Correlation Ventures, Founders Fund, TDF Ventures, WTI, Expansion Venture Capital, and Peterson Ventures, along with Angel investors. The company’s service is somewhat complex, as they actually physically pick up snail mail from users’ mailboxes and digitize it. The service costs $4.99 per month, and Outbox claims it has processed over 150,000 pieces of mail since its launch in 2011. It originally launched in Austin, where it is based, and has also been in private beta in San Francisco. It was founded by Will Davis and Evan Baehr. The team raised $2.2 million in Seed funding in 2011.
Vital Stats:
Website: www.outboxmail.com
HQ: Austin
Founders: Will Davis and Evan Baehr
Year Founded: 2011
Investors: Correlation Ventures, Founders Fund, TDF Ventures, WTI, Expansion Venture Capital, Peterson Ventures, Angels (Series A)
Innovation: Secure digitization of snail mail.
Total Funding: $7.2 million
(Sources: Outbox, TechCrunch)
More funding and acquisitions news…
Steve Case’s Revolution Ventures Raising $150M For New Early-Stage VC Fund (via TechCrunch)
With $5M In Its Coffers, Game Publisher Pubgames Sets Its Sights On Southeast Asia (via TechCrunch)
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