Sendoso raises $100 million after reaching 20,000 users on its corporate giving platform

Sendoso is a popular “end-to-end” gifting platform that provides access to 30,000 products. It includes corporate swag, regular physical gifts, gift cards, and more, as well as logistics, packing, and shipping services to get those gifts to the recipients. It is announcing $100 million in funding, led by a significant new investor, capitalizing on this shift.

This latest Series C round of funding is led by SoftBank’s Vision Fund 2. Previous investors Oak HC/FT, Struck Capital, Stage 2 Capital, Craft Ventures, Signia Venture Partners, and Felicis Ventures are also participating.

The company had been on an incredible growth trajectory for years, but it experienced a spike in activity when the pandemic broke out. More than 20,000 firms have joined up to use its services, mainly used for sales and marketing outreach and boosting employee morale.

“Everyone was stuck at home by themselves, saturated with emails. Having a personal connection to sales prospects, employees, and others just meant more.”

Kris Rudeegraap, the CEO of Sendoso

Sendoso isn’t saying how much it’s worth, but Rudeegraap revealed that it’s four times more than the startup’s Series B value from 2020. According to PitchBook, that figure is $160 million, putting the current worth at $640 million. The company has already raised over $150 million in funding.

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