New York, NY -- July 20, 2017 -- PebblePost®, the inventor of the Programmatic Direct Mail® solution, today announces 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.”
To learn more about PebblePost’s Programmatic Direct Mail® solution visit: PebblePost.com.
PebblePost invented its Programmatic Direct Mail® solution to transform real-time online activity into personalized, dynamically rendered tangible media that’s delivered into postal hubs within 12-24 hours, every day. The company’s patent pending digital platform integrates segmentation, campaign management, production, analytics and optimization. PebblePost combines the power of intent data with the effectiveness of in-home to achieve far higher conversion rates and ROAS. PebblePost® is a venture-backed company based in NYC.
About Horizon Technology Finance
Horizon Technology Finance Corporation is a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and cleantech industries. The investment objective of Horizon is to maximize its investment portfolio's return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Headquartered in Farmington, Connecticut, Horizon has regional offices in Pleasanton, California, Reston, Virginia and Boston, Massachusetts. Horizon's common stock trades on the NASDAQ Global Select Market under the ticker symbol “HRZN”. To learn more, please visit www.horizontechfinance.com.
About Silicon Valley Bank
For more than 30 years, Silicon Valley Bank ("SVB") has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at www.svb.com.
Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group (Nasdaq:SIVB).
Blast PR on behalf of PebblePost