Online-to-Offline Platform Sendoso Closes Series B Funding Round with $40M Investments
Source: retail tech insights
The renowned sending platform, Sendoso, secured $40 million investments from its Series B funding round led by Oak HC/FT.
Sendoso, a San Francisco, CA-based sending platform secured $40 million investments from its Series B funding round led by Oak HC/FT, totaling the company’s funds raised to $54.1 million. the corporate achieved 330 percent growth in revenue last year, has decided to utilize the funds for continued product innovation, market expansion, and team growth.
Today’s companies undergo challenges that increase daily, especially in reference to buyers through traditional channels. A recent report by Forrester shows that about 28 percent of the sales representatives say that one of the most important challenges they face is while getting customers to answer their phones. The competition to capture the buyer’s attention continuously fuels the teams to seek out innovative ways to approach traditional sales and marketing strategies that are more direct, also that which creates a more personalized outreach.
“When we founded Sendoso in 2016, the mission was very clear: create a sending platform to assist businesses to rise above the digital noise and build meaningful connections,” said Kris Rudeegraap, Co-Founder and CEO of Sendoso. “Many companies are still struggling to remain top-of-mind with buyers and build long-lasting relationships with their customers. the very fact that our customers are seeing up to a 60 percent response rate and a 5x increase in close rate on opportunities using Sendoso validates the effectiveness of our platform.”
Sendoso assists organizations to include digital and physical sending strategies as a part of their go-to-market programs. the extra touchpoints by Sendoso help connect the businesses with its customers in many efficient ways, during the buyer’s journey. It integrates with the leading sales and marketing tools, like Salesforce, Marketo, Hubspot, Outreach, and various others, allowing its customers to leverage from their existing programs and attain visibility into the effectiveness of the integrated campaigns that encompass strategies sharing.
“At Nutanix, our global sales organization of 1,200 inside and field sales representatives are consistently trying to find new ways to attach with buyers,” said Alex Cox, Global Marketing Programs at Nutanix, a worldwide leader in cloud software and hyper-converged infrastructure solutions. “Since adopting Sendoso, we have seen a 20x annual return on our sending campaigns and are ready to optimize our meeting-maker programs.”
Oak HC/FT led this round of funding with a few returning investors, Craft Ventures, Signia Venture Partners, Storm Ventures, Struck Capital, and Stage 2 capital and new investors Felicis Ventures and Prologis. Oak HC/FT’s Allen Miller and Sendoso COO Michelle Palleschi will become the members of Sendoso’s Board of Directors soon.
“Direct mail and company gifts have long been effective ways for businesses to create meaningful relationships with buyers and customers, but the industry has largely existed in an offline and inefficient manner. Sendoso is that the first to vary that with its Sending Platform and has positioned itself as a category creator within account-based marketing and sales,” said Allen Miller of Oak HC/FT. “We’re impressed by Sendoso’s tremendous growth and vision for the send category, and we’re excited to back Kris, Braydan, and therefore the entire Sendoso team as they still provide innovative solutions that help businesses grow.”
In addition to the company’s record development over the last year, Sendoso has been named as “Cool Technology Vendor” by Gartner; earned leadership positions within the “account-based execution,” “promotional product management,” and “direct mail automation” categories on software review site G2; and received awards for “Product of the Year” and “Best Cloud Computing” software from Business Intelligence.
5 Trends that will Change Offline Retail in 2020
social media channels such as Facebook, Instagram, WhatsApp, are proving to be important marketing mediums for offline retailers
The retail industry has embraced and adopted technological changes in recent years. The advancement of retail-tech and fintech has revolutionized the way small and large players run their businesses.
Below are five trends which will shape physical retail in 2020:
Adopting New Technologies in Retail
By adopting new technologies and implementing them, physical retailers can create superior pricing propositions and more extensive selection in-store, and improving upon conversion rates by offering better prices over a web platform with the gathering of a huge network using technology. Retailers also are ready to provide a more massive selection of products compared to all or any the web platforms put alongside the assistance of solutions like virtual inventory.
Integrating AR & VR
Augmented reality and computer games are still not introduced at large within the retail sector. But, many home and fashion brands are successful at using AR/VR technology. the subsequent approach should be to explore the proper level of engagement with consumers to supply an immersive shopping experience.
Sales through Search Engines and Social Media
The issue of discoverability on the web for physical retailers has been prevalent for years. But retailers are now adopting technologies to be equally discoverable as online stores. Social media channels like Facebook, Instagram, WhatsApp, also are proving to be important marketing mediums for offline retailers.
Better Customer Experience
It may be true that e-commerce has brought massive changes to online shopping. However, consumers across the planet still prefer assisted in-store experience aside from touch and feel before making purchases. Taking advantage of this chance, many retailers are providing customers with an exciting and educative experience in-store for a guaranteed and informed buying decision. This has pushed small and large brands to specialize in physical retail as their flagship channel, including investments in experience centers.
Omni-channel Retail
Retailers got to be available for his or her audience both in big outlets and through digital channels with an integrated consumer outreach. With stiff competition everywhere, this approach is one among the foremost vital consumer acquisition and engagement strategies for all retailers and makes.
News Source:
