VC firm invests in email signature platform
A Grand Rapids venture capital firm has made its second investment.
Grand Ventures announced today it participated in the series A funding of Indianapolis-based Sigstr, a cloud-computing startup focused on personalizing employee email signatures.
“We believe Indianapolis is one of the most exciting entrepreneurial markets in the country, and we’re excited to make our first investment,” Grand Ventures Principal Maitlan Cramer said. “Bryan Wade, Dan Hanrahan and the rest of the Sigstr team, along with its board and investors, are exactly what we look for in an early stage company.”
The $5-million round of funding was led by Hyde Park Venture Partners and also included participation from Battery Ventures, HubSpot and High Alpha Capital.
“Sigstr is creating a new category in marketing,” Hyde Park Venture Partners partner Tim Kopp said. “Employee email is the last marketing channel that has gone untapped. Every day, there are billions of interactions between employees and their customers, and Sigstr helps marketers take advantage of this channel to drive real marketing ROI.”
Sigstr’s platform is used by companies such as Angie’s List, California Closets and United Way. The company currently has 300 customers and has had more than 500-million signature impressions.
“Content curation and distribution is a differentiator in business,” Grand Ventures Partner Tim Streit said. “Sigstr enables marketers to deliver personalized content and win business by utilizing lost real estate on millions of employee emails. Doing more with less is a great way to drive ROI.”
The company has more than 30 employees.
The round of funding is expected to allow Sigstr to grow its product, sales and marketing teams and further develop its offerings.
“The future of marketing is authenticity,” Sigstr CEO Bryan Wade said. “Our vision is to unleash the power of your employees and to help marketers leverage employees to market from the inside out.”