Podium secures $201m to support its expansion
- Tuesday, November 16th, 2021
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Podium, a communication and payments platform for local businesses, has raised $201m (£150m) in Series D funding, led by YC Continuity, with participation from Durable Capital Partners, Arpex Capital, Accel, Album VC, IVP, Sapphire Ventures, Summit Partners, and Sorenson Capital. This latest round brings the company’s valuation to over $3 billion.
Podium helps local businesses facilitate interactions with consumers using text messaging, website chat, marketing campaigns and payment transactions. Its tech is currently deployed by more than 100,000 local businesses. The additional funding will support the company’s expansion to reach more local businesses all over the world as well as deeper investments to build out its payments, communications and marketing technology. This includes supporting everything a local business may need to collect payments, manage all its communications with consumers, and create more personalized and effective marketing campaigns that drive conversations and revenue.
“We see this as a watershed moment for local businesses all over the world, especially as the world opens up again and local businesses are tasked with meeting the changing preferences of consumers who have welcomed digital-first interactions through the pandemic,” said Podium Co-founder and CEO, Eric Rea. “Our goal is to help communities get back on their feet and to help local businesses participate in a meaningful way in the digital evolution happening at the local level.”