Capital One Growth Ventures Invests in Programmatic Direct Mail with PebblePost, Joins Series C Investor Round Led by Advance Venture Partners
New Investment Closes out Pebblepost’s $31 Million Series C Round
PebblePost, the creator of Programmatic Direct Mail, announced Capital One Growth Ventures, Kickstart Seed Fund and other investors added funds to close out the company’s Series C round, which now totals $31 million. As previously announced, Advance Venture Partners (AVP) led PebblePost’s Series C round, which included prior investors RRE, Greycroft, Tribeca Venture Partners, strategic investors, and angels and pioneers in digital media.
“PebblePost provides brands with a simple, high-impact way to reach shoppers at home with personalized, meaningful mail,” said Aman Sharma, Partner, Capital One Growth Ventures. “The demand PebblePost is seeing across core industries including retail, financial services, and automotive is impressive. We are excited to support their goals of diving deeper into new partner and vertical categories that are prime for Programmatic Direct Mail adoption.”
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PebblePost is the first company to unite the power of digital advertising and the performance of physical mail with Programmatic Direct Mail, a new marketing channel that turns online engagement into direct, at-home interactions that drive purchase decisions. PebblePost’s Programmatic Direct Mail platform and solution integrate targeting, algorithmic optimization, attribution and quantitative analysis to send highly personalized direct mail to consumers.
“We were impressed with the early adoption of PebblePost’s Programmatic Direct Mail by digitally native, direct-to-consumer brands like Boxed, Parachute and TUMI, as well as established, marquee brands like Dyson,” added David ibnAle, Managing Partner at AVP and PebblePost Board Member. “PebblePost’s early market penetration with today’s biggest brands demonstrates the scale, technology innovation and high customer value that are the hallmarks of successful startups in our portfolio.”
PebblePost plans to invest the new funds into its customer platform, with enhancements to increase capabilities in the areas of attribution, re-engagement and prospecting to help brands measure and optimize campaigns. In addition, the company aims to expand its footprint across new vertical and partner channels, giving all brands the simplest and most powerful tool to convert shoppers into buyers.
“Our clients are activating Programmatic Direct Mail to achieve far higher marketing performance goals than digital or direct mail channels can provide,” said Lewis Gersh, CEO, PebblePost. “The new enhancements to our platform have revealed that PebblePost is driving even higher performance than we initially measured. We are thrilled to show brands the unparalleled lift in conversions that takes place when they deploy a campaign on our platform – not only online, but also in stores as we help them drive omnichannel campaign success.”
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