PebblePost, a Programmatic Direct Mail solution provider, has raised $47 million in Series B equity and debt funding. The company plans to use the funds to enhance customer operations, expand its product and enter new markets.
The round of funding includes loans from Horizon Technology Finance, Silicon Valley Bank (SVB), RRE and additional institutional investors and industry angels.
PebblePost’s Programmatic Direct Mail solution enables digital marketers to take real-time online activity and turn it into personalized tangible media such as post cards and catalogs.
“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 in a statement. “This debt financing greatly enhances our balance sheet to further enable us to lead the market we created.”
“PebblePost connects digital advertising, direct mail and data services, which represent $83 billion, $50 billion, and $78.8 billion spent respectively,” said said Jim Robinson, Managing Partner at RRE Ventures in a statement. “It’s a $200 billion market opportunity that they were the first to capitalize on.”