Plans Enhancements To Newest Marketing Channel Since Search And Social
PebblePost®, the inventor of the Programmatic Direct Mail® solution, announced that it has secured a total of $47 million in Series B round equity and debt funding. This sum includes a term loan facility with Horizon Technology Finance and secured credit facility with Silicon Valley Bank (SVB) that together will provide access to $27 million in funds in addition to $20 million in equity capital from institutional investors and industry angels. This completes the Series B funding led by RRE, which includes the previously announced $15M closing. Cafferty & Company served as independent advisor to PebblePost on each of the term loan and secured credit facility transactions.
“Our latest round of funding is a testament to both brand and consumers’ overwhelming embrace of the new, respectful form of advertising made possible by our Programmatic Direct Mail® platform,” said Lewis Gersh, CEO. “Several hundred marketers who are benefitting from it will appreciate how this will fuel our product and the channel’s further evolution.”
PebblePost plans to use these proceeds to enhance Customer Operations, expand its product and enter new markets, in addition to adding more world-class talent. The funds will also provide flexibility to its working capital as the company expands to enterprise brands across multiple vertical markets.
“Horizon and SVB provided us with a compelling combined structure that allows us to accelerate development of our Programmatic Direct Mail® platform to meet the demands of our current brands,” said Marita Scarfi, CFO of PebblePost. “This debt financing greatly enhances our balance sheet to further enable us to lead the market we created.”
Industry experts and investors have also expressed their optimism about the opportunity PebblePost has identified.
“PebblePost uniquely connects digital advertising, direct mail and data services, which represent $83 billion, $50 billion, and $78.8 billion spent respectively. It’s a $200 billion market opportunity that they were the first to capitalize on,” said Jim Robinson, Managing Partner at RRE Ventures.
The Programmatic Direct Mail® solution is the only digital offering that efficiently and effectively connects online activity into home, and from home into store, via personalized, dynamically rendered tangible media, establishing a mutually beneficial dialog between consumers and brands.
“Marketers are calling PebblePost’s solution the first new marketing channel since search and social,” said John Elton, Partner at Greycroft Partners. “We have had a number of our e-commerce portfolio companies using the solution with incredible results. PebblePost has become the secret weapon for customer acquisition across our portfolio.”