Lob Raises $50M In Series C Funding
- Written by Michael Rodriguez
- Published in Financial News
Direct mail platform Lob has raised $50M in Series C Funding via investment fund Y Combinator Continuity, bringing Lob’s total capital raised to $80M.
With the additional capital, Lob said it plans to invest in its print delivery network, designed to provide on-demand access to printing and real-time content personalization. Lob will also invest some capital into its hiring plans, hoping to double its employee count in 2021.
As part of the announcement, Lob pointed to estimates that integrating its platform into direct mail workflows has reduced execution time by 95%—from 90 days to less than a day—cutting costs and improving data quality for its clients. It added that some of the company’s customers are seeing a 20% increase in consumer retention through timely personalization.