What is textPlus?
textPlus operates as a prominent mobile communications service provider, facilitating voice, text, and data sharing for a global audience. By leveraging an open network architecture, the company has successfully connected over 110 million users across iOS, Android, and Windows platforms. Its market position is defined by a focus on providing cost-effective, reliable alternatives to traditional telecommunications, effectively disrupting the legacy carrier model through a user-centric, app-based interface. The firm's ability to maintain high engagement levels across diverse device ecosystems, including tablets and smartphones, highlights its technical agility and market relevance.
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 Kleiner Perkins Caufield & Byers, GRP Partners, and Matrix Partners
Series D (2012): $18M featuring Matrix Partners, Kleiner Perkins Caufield & Byers, The Raine Group, 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
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.
Matrix Partners
An award-winning firm that specializes in consumer product strategy, advertising, and public relations, with a deep history of supporting national brands and consumer-facing enterprises.
GRP Partners
A Los Angeles-based venture capital firm, now known as Upfront Ventures, that specializes in investing in technology businesses including digital media, SaaS, and consumer internet sectors.
What's next for textPlus?
Following the recent strategic investment, textPlus is well-positioned to optimize its operational efficiency and further penetrate international markets. The company's lifecycle stage, characterized by major enterprise-level funding, suggests a transition toward long-term sustainability and potential market consolidation. Future strategic initiatives will likely focus on enhancing network reliability, exploring new monetization avenues within the mobile ecosystem, and maintaining its competitive edge against both traditional telecom incumbents and emerging VoIP competitors. The continued support from high-profile venture capital partners provides the necessary financial runway to execute these objectives while navigating the complexities of the global digital communications market.
See full textPlus company page
