What is textPlus?
textPlus operates as a leading mobile communications service provider, offering consumers a versatile platform for texting, calling, and content sharing. By providing an open network that functions across iOS, Android, and Windows devices, the company has effectively disrupted traditional telecommunications models. Its value proposition centers on delivering cost-effective, reliable connectivity, which has allowed it to capture a substantial user base globally.
Headquartered in Marina del Rey, the company maintains a strong market position by focusing on user experience and accessibility. Through its chart-leading application, textPlus bridges the gap between traditional carrier services and modern, internet-based communication, positioning itself as a critical utility for mobile-first consumers.
How much funding has textPlus raised?
textPlus has raised a total of $53.4M across 6 funding rounds:
Series A
$5.2M
Series B
$8.2M
Series C
$15M
Series D
$18M
Private Equity
$6.9M
Debt
$150K
Series A (2008): $5.2M with participation from Kleiner Perkins Caufield & Byers
Series B (2009): $8.2M led by Matrix Partners and Kleiner Perkins Caufield & Byers
Series C (2011): $15M supported by Matrix Partners, GRP Partners, and Kleiner Perkins Caufield & Byers
Series D (2012): $18M featuring Matrix Partners, The Raine Group, Kleiner Perkins Caufield & Byers, and GRP Partners
Private Equity (2015): $6.9M, investors not publicly disclosed
Debt (2020): $150K with participation from PPP
Key Investors in textPlus
Kleiner Perkins Caufield & Byers
Kleiner Perkins is a Menlo Park-based venture capital firm that raises dedicated funds and invests in early and growth-stage technology and life-science companies, backing founders across consumer, enterprise, healthcare, and climate/hard tech with capital and operational support from seed through IPO or acquisition.
Matrix Partners
Headquartered in Chicago, Matrix Partners is an award-winning firm that specializes in pet product strategy, advertising and public relations, leveraging decades of experience to drive successful marketing campaigns for national consumer brands.
GRP Partners
Now known as Upfront Ventures, this Los Angeles-based venture capital firm specializes in investing in technology businesses, with a focus on digital media, SaaS, consumer internet, and retail innovation to support the next generation of tech entrepreneurs.
What's next for textPlus?
With the recent strategic investment, textPlus is well-positioned to accelerate its product development and enhance its network reliability. The company is expected to focus on deepening its market penetration and optimizing its service delivery to maintain its competitive edge in the mobile communications industry. Future strategic initiatives will likely prioritize technological innovation and the expansion of its global footprint, ensuring that the platform remains a preferred choice for users seeking affordable and high-quality communication tools.
As the company moves into its next phase of growth, the continued support from its investor base will be instrumental in navigating the complexities of the telecommunications market. The focus remains on scaling operations while maintaining the high standards of service that have defined the textPlus brand to date.
