Sending platform Sendoso secured $100 million in Series C funding, bringing its total funding over $152 million. The round was led by SoftBank Vision Fund 2 with participation from existing investors Oak HC/FT, Struck Capital, Stage 2 Capital, Craft Ventures, Signia Venture Partners and Felicis Ventures.
Sendoso plans to use the capital to accelerate the expansion of its global footprint, hiring and product offerings. That initiative includes opening an Ireland-based headquarters that features a dedicated logistics and supply chain operation to further support the organization’s 20,000 global enterprise users. Additionally, Sendoso hopes to increase its 500-person workforce by 30% before 2022.
This funding comes at a time where sending campaigns are on the rise, as revealed in Sendoso’s State of Sending Report. The research found that 64% of marketing organizationsachieved a higher client retention rate through gifting, 54% closed more deals and 63% forged deeper client relationships. With the increasing success of gifting initiatives, the company recently integrated with Microsoft Dynamics 365 tohelp diversify its buyer datasets and expand partnership opportunities.
"Sendoso combines an advanced SaaS platform with the marketplace selection and logistics precision of Amazon.com,” said Kris Rudeegraap, CEO and Co-Founder of Sendoso, in a statement. “This unique combination delivers on-brand execution at scale for corporate gifting. This funding round is a major milestone for Sendoso and will help us expand our products, services and global footprint."