SendGrid, an email delivery platform, has secured over USD 20 million in Series C round led by a new investor Bain Capital Ventures as well as from existing investors Bessemer Venture Partners and Foundry Group. The new funds will be used to expand the functionality of the platform and increase its channels to market as well as accelerate the business to the next level. The company announced the news via a Twitter Post.
— SendGrid (@SendGrid) December 2, 2014
Founded in 2009 as part of TechStars and based in Boulder, Colorado, SendGrid sends more than 435 million emails per day and 15 billion emails per month and has sent over 300 billion emails.
Previously, the firm has received USD 5 million (Series A) in 2010, USD 750,000 (Series A) in 2009 and a seed investment of USD 12,000 from Techstars. The latest round brings the total capital of the company to date is USD 47.4 million in 5 rounds from 13 investors.
Image Source: NetRegistryCategory Business Investments