Discover more from Utah VC
Podium Raises $201M in Series D Funding to Accelerate the Digital Evolution for Local Businesses
Additional Funding to be Invested Towards Future Growth and Innovation to Support Local Businesses
LEHI, Utah, Nov. 15, 2021 -- Podium, a communication and payments platform for local businesses, announced today it has raised $201 million in Series D funding, led by YC Continuity with participation from Durable Capital Partners, Arpex Capital, Accel, Album VC, IVP, Sapphire Ventures, Summit Partners, and Sorenson Capital. This latest round brings the company's valuation to over $3 billion.
"We see this as a watershed moment for local businesses all over the world, especially as the world opens up again and local businesses are tasked with meeting the changing preferences of consumers who have welcomed digital-first interactions through the pandemic," said Eric Rea, co-founder and CEO of Podium. "Our goal is to help communities get back on their feet and to help local businesses participate in a meaningful way in the digital evolution happening at the local level."
Podium is helping thousands of local businesses facilitate millions of interactions with consumers today, from text messaging, website chat, marketing campaigns, to payment transactions. Podium's mission is to help all local businesses thrive, and will continue to play an integral role in transitioning their analog operations to a digital one, so that they can get back to what they do best -- serve their customers.
"Podium brings world-class marketing and payments tools to the small and medium businesses that power our economy and employ the lion's share of workers. These businesses have traditionally been overlooked by technology companies," says Ali Rowghani, Managing Director of YC Continuity. "Podium's products level the playing field for SMBs and help them compete in a changing world."
Additional funding will support Podium's expansion to reach more local businesses all over the world as well as deeper investments to build out their payments, communications and marketing technology. This includes supporting everything a local business may need to collect payments, manage all their communications with consumers, and create more personalized and effective marketing campaigns that drive conversations and revenue.
Podium exists to help local businesses thrive, so they can focus on what matters most: their customers. Today, more than 100,000 local businesses are powered by Podium, helping to facilitate millions of customer interactions and payment transactions. From customer-generated reviews, to more seamless communication offerings and contactless payment tools, Podium is modernizing the way local businesses operate and grow their businesses. Podium is headquartered in Lehi, Utah, and was founded in 2014. To learn more, visit www.podium.com.
About YC Continuity
YC Continuity is a growth fund that invests early in Y Combinator's most elite companies. In addition to Podium, their portfolio includes Stripe, Coinbase, DoorDash, Instacart, Checkr, Brex, Zapier, Fivetran, Faire, GitLab, Gusto, Segment, and others.