What is textPlus?
textPlus operates as a prominent mobile communications service, enabling users to text, talk, and share content affordably and freely. The company distinguishes itself by offering extensive choice, cost savings, and dependable service to a global user base, aiming to enhance the overall phone experience. Its expansive network connects over 110 million individuals worldwide through a leading application available across iOS, Android, and Windows platforms, including devices like iPod touch and tablets. Headquartered in Marina del Rey, textPlus has garnered backing from notable investors, reflecting its established presence and future potential in the competitive mobile communication landscape.
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 Kleiner Perkins Caufield & Byers and Matrix Partners
Series C (2011): $15M supported by Matrix Partners, GRP Partners, and Kleiner Perkins Caufield & Byers
Series D (2012): $18M featuring The Raine Group, GRP Partners, Kleiner Perkins Caufield & Byers, and Matrix 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. Passionate About PetsSM since 1987, Matrix has created successful marketing campaigns for hundreds of consumer and pet product brands. Matrix Partners' client experience includes dozens of national brands ranging from pet foods, treats and supplements to cat litter, accessories and grooming aids.
GRP Partners
Upfront Ventures is a venture capital firm located in Los Angeles that specializes in investing in technology businesses. Their focus areas include digital media, SaaS, consumer internet, and retail innovation. The firm aims to support innovative companies that are shaping the future of technology. Their intended clients are entrepreneurs and startups in the technology sector.
What's next for textPlus?
The recent major strategic investment in textPlus signals a pivotal phase for the company, likely focused on scaling its operations, enhancing its platform capabilities, and expanding its global reach. This infusion of capital, particularly in the form of a strategic investment, suggests a focus on synergistic growth and market consolidation. textPlus is well-positioned to leverage this financing to further innovate its free and low-cost communication solutions, potentially exploring new service offerings or deepening its penetration in existing markets. The company's trajectory indicates a strong emphasis on user acquisition and retention, aiming to solidify its position as a leader in the mobile communications industry.
See full textPlus company page
