# textPlus

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/textplus

- Industry: Internet
- Headquarters: Marina del Rey, US
- Website: www.textplus.com
- Total disclosed funding: $53M
- Latest round: Series I (Feb 4, 2015)
- Investors on record: 4

## About

Based in the US, textPlus, Inc. operates as a communication service provider, offering users free SMS and MMS messaging and low-cost calling options, facilitating flexible connectivity without traditional phone service constraints.textPlus, Inc. is a communication service provider that enables users to access a second phone number. Founded in 2007 and headquartered in Marina del Rey, US, the company has successfully raised a total of USD 6.90 mn across multiple funding rounds, with its latest funding round being Series I, which raised USD 6.90 mn from investors including Kleiner Perkins and Matrix Partners. The company has engaged in six deals to date. The founder's history is not publicly available.textPlus offers a range of communication services primarily focused on providing a second phone number for users, which enables free SMS and MMS messaging within the United States and Canada. The platform allows users to make domestic and international calls at rates starting from 2¢ per minute, targeting various use cases such as personal communication and business outreach. The application is designed for individuals seeking flexible and cost-effective ways to communicate without the need for traditional phone services. TextPlus has been positioned to cater to a diverse clientele, including both individual consumers and businesses that require affordable international calling solutions. The services are marketed in multiple geographical areas, including the United States, Canada, and select international markets, where users can take advantage of the competitive calling rates.textPlus generates revenue through a transactional model that encompasses both direct-to-consumer and business-to-consumer interactions. Users can download the textPlus app for free, which provides them with access to a free phone number and unlimited texting capabilities. Revenue is primarily derived from pay-per-use calling features, allowing users to make calls at competitive rates. The company's pricing structure is straightforward; for instance, the low per-minute charge for international calls facilitates transactions between the firm and its clients. This model attracts a broad customer base, as users enjoy transparent pricing without the burden of sign-up fees. Overall, the revenue structure reflects a blend of individual consumer transactions and potential partnerships with businesses looking to leverage textPlus's communication services.The recent funding will be strategically utilized to enhance product offerings and expand market presence. textPlus is actively designing new features aimed at improving user experience and intends to launch these updates within the next year. The company also plans to expand into new geographic regions, specifically targeting additional markets in North America and Europe by the end of 2024. This growth strategy is expected to leverage the recent funding to support these initiatives.

## Funding rounds

- Series I, Feb 4, 2015, $6.9M — Kleiner Perkins, Matrix Partners
- Series D, Sep 27, 2012, $18M — Kleiner Perkins, Matrix Partners, Upfront, The Raine Group
- Series C, Jan 31, 2011, $15M — Kleiner Perkins, Matrix Partners, Upfront
- Series B, Dec 4, 2009, $8.2M — Kleiner Perkins, Matrix Partners
- Series A, Jan 24, 2008, $5.2M — Kleiner Perkins

## Investors

- Kleiner Perkins (https://capitalatlas.ai/funds/kleiner-perkins) — Series A, Series B, Series C, Series D, Series I
- Matrix Partners (https://capitalatlas.ai/funds/matrix-partners) — Series B, Series C, Series D, Series I
- Upfront (https://capitalatlas.ai/funds/upfront) — Series C, Series D
- The Raine Group (https://capitalatlas.ai/funds/the-raine-group) — Series D