Podium to accelerate digital evolution for SMBs with $201m Series D round

Eric Rea, Co-Founder and Chief Executive Officer of Podium
Eric Rea, Co-Founder and Chief Executive Officer of Podium

Podium, a communication and payments platform for local businesses has announced that it has successfully raised $201 million facilitated through a Series D funding round.

The round is 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.

Podium targets acceleration of SMB digital evolution

Eric Rea, the Co-Founder and Chief Executive Officer of Podium is extremely optimistic with the company’s progress and achievements experienced by the platform in its growth.

“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.”

“Our goal at Podium 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 many local businesses to facilitate millions of interactions with consumers, from text messaging, website chat, marketing campaigns, to payment transactions.

Podium’s mission aims to help local businesses thrive and continues to play an integral role in transitioning their analog operations into digital so that they can get to serve their customers.

Stakeholder comments on Podium’s Series D funding

Ali Rowghani, the Managing Director of YC Continuity is also optimistic with their investment.

“Podium is bringing world-class digital marketing and payments tools to the small and medium businesses that power our economy and employ the largest quantity of workers.”

“These companies have traditionally been overlooked by technology companies but Podium will level the playing field for SMBs and help them to compete in a changing world.”

Additional funding will support Podium’s expansion to reach more local businesses globally with deeper investments to build their payments, communications and marketing technology.

This strategy by Podium includes supporting everything that a local business may need to collect payments, manage all their communications with consumers as well as creating more personalized and effective marketing campaigns that drive conversations and revenue.