TextUs Secures $22MM Growth Equity Round to Scale Industry-Leading Text Messaging Platform
TextUs messaging platform fills a major gap in business messaging allowing for real-time conversations that result in 10X higher engagement rates than email or voice
TextUs, an industry-leading enterprise texting solution that allows businesses to have engaging two-way conversations at scale, announced today it has raised $22M in Series C financing led by Eastside Partners with participation from Colorado-based Access Venture Partners. The new investment will allow TextUs to accelerate its growth through increased product innovation and go-to-market expansion.
“We’re excited to partner with TextUs to scale the team and continue building their intuitive, industry-leading platform. It’s rare to find investment opportunities where the management, technology, and market are all so strong,” said Benjamin Cobb, Partner at Eastside Partners. “We look forward to working with TextUs to deliver additional innovation and customer value to the marketplace.”
TextUs has established a leadership position by delivering a texting platform that allows companies to maximize both reach and conversion. As more companies seek solutions to effectively connect with customers, candidates, and employees, text messaging has become the most effective communication channel. Garnering a 98% read rate and response rate up to 10x higher than email or phone, texting’s higher engagement rate leads to higher productivity and, ultimately, more revenue and profitability for companies.
“TextUs is very fortunate to have forged a relationship with Eastside Partners and Access Ventures,” said Martin Payne, CEO of TextUs. “Business texting is a $4B market on a path to exceed $15B by 2028. This investment coupled with the expertise that these firms have in marketing software will allow us to extend our leadership position in our target segments of this rapidly growing market.”
TextUs has established a meaningful presence in select verticals by delivering a texting platform that allows companies to engage customers and candidates at scale and convert them to two-way texting conversations that result in substantially higher close rates. The platform’s value is further enhanced by integrations with existing enterprise software such as customer relationship management and human resource management systems. This solution maximizes engagement rates and works seamlessly with existing systems resulting in optimal customer conversion and user productivity, benefits that clearly differentiate TextUs from other products in the marketplace.
“Access Ventures invested in TextUs because we believe in the power of text as a communication medium. We were impressed by the ability of the TextUs platform to manage billions of messages while maintaining security and compliance. We believe that texting will be integrated into many, if not most, SaaS platforms overtime and that TextUs will continue to be the preferred partner in delivering and managing large scale compliant infrastructure,” said Frank Mendicino, Managing Partner at Access Venture Partners.
A remote-first company based in Denver, TextUs will be expanding its nationwide team, hiring approximately 40 employees over the next several months. These additional team members will allow the company to accelerate expansion of technologies that optimize engagement rates, integrations that enable access to new verticals, and go-to-market capacity that increases revenue growth. Please visit textus.com/jobs for a complete list of open positions.
TextUs is the leading conversational texting platform that enables organizations to have engaging real-time conversations with customers, candidates, and employees. TextUs integrates with several customer relationship management (CRM) and applicant tracking system (ATS) platforms, making texting an easy and seamless extension of current business systems. With a 98% read rate and up to 45% response rates, TextUs delivers business-class text messaging combined with automated campaign features to connect businesses with their customers in real time. To learn more, visit www.textus.com.
About Eastside Partners
Eastside Partners is a growth-equity firm that backs management teams who are building exceptional products and services. Since 2005, the firm has invested more than $250 million, focusing on B2B SaaS, Healthcare and Tech-Enabled Services companies. Eastside’s investment strategy is focused on companies whose culture always puts the customer first.
About Access Venture Partners
Access Venture Partners is a leading early-stage venture capital firm focused on building world class technology companies in partnership with exceptional entrepreneurs. Headquartered in Colorado with a focus on supporting startups in the Mountain West, Access has deployed capital into more than 100 companies since its inception. More at accessvp.com.