Zipwhip just closed our Series D funding round for $51.5 million! Led by Goldman Sachs, with participation from current investors OpenView, M12 and Voyager Capital, this investment will help us continue marching toward our goal of text-enabling every business phone number in North
Zipwhip just closed our Series D funding round for $51.5 million! Led by Goldman Sachs, with participation from current investors OpenView, M12 and Voyager Capital, this investment will propel Zipwhip as it continues toward its goal to one day text-enable the more than 200 million business phone numbers in North America.
With this growth funding round, we are going to invest in an aggressive product expansion strategy, which includes hiring more engineers, product developers and expanding our leadership team. Zipwhip will also enhance our enterprise product offering, including our APIs. Today, over 100 enterprise organizations rely on Zipwhip’s software to communicate effectively with customers. We are also going to invest in our integrations, such as connectors into CRMs and other tools in the cloud. Finally, we will use this money to grow our channel presence and relationships.
This investment round substantiates the unique trajectory that Zipwhip has been on with the success and growth of our industry. Zipwhip invented the texting-for-business software industry. In 2014, you couldn’t text enable an existing business number, so Zipwhip worked with all the mobile carriers to make it possible to text enable existing landlines, toll-free and VOIP numbers. These partnerships paved way for the entire texting-for-business industry that Zipwhip has continued to lead. Since then, we have seen a boom in the number of businesses that recognize the power and importance of texting, all the while consumer demand for fast, easy and convenient communications has only increased.
In fact, in 2018 we grew our messaging traffic by 262 percent and have now text enabled 3.3 million landline, VoIP and toll-free phone numbers. We are also proud of the fact that today we have over 10,000 direct software customers. All of this has culminated to a more than 80 percent increase in revenue. Of course, this explosive growth wouldn’t be possible without our 260 hard-working employees.
A big thanks to our customers, partners, employees and especially our investors for believing in the power of texting for business. We are thrilled to have you along on this wild ride!