Physical, a San Francisco-based startup that provides an end-to-end platform for managing subscription-based businesses, has announced a $75 million Series B funding round. The round was led by 3L Capital, with participation from existing investors, including L Catterton, Kleiner malluweb Perkins, and Silicon Valley Bank.
The company was founded in 2018 by Chris Cabrera and Michael Kassin, both of whom have backgrounds in software and media. Their platform is designed to help businesses manage their subscription-based operations, from billing and payments to customer support and retention.
Physical’s software is used by a range of businesses, including those in the media, healthcare, and financial services sectors. The company’s platform is designed masstamilan to help businesses reduce churn, increase revenue, and improve customer satisfaction.
In a press release announcing the funding round, Cabrera said that the company plans to use the funds to expand its product offerings and increase its headcount. “We’re thrilled to have the support of our investors as we continue to grow and scale our business,” he said.
The company plans to add new features to its platform, including tools for analytics and data insights, as well as new payment options and integrations with other software tools. Physical also naukri24pk plans to expand its sales and marketing teams to reach more customers.
“Physical is addressing a real pain point for businesses that rely on subscription-based models,” said Mike Vernal, Partner at 3L Capital. “We’re excited to partner with them as they continue to grow and expand their platform.”
The Series B funding round follows a $7 million seed round in 2019 and a $20 million Series A round in 2020. The company has raised a total of $102 million to date.
Physical is just one of many startups that are focused on helping businesses manage their subscription-based models. As more companies move to this business model, there is increasing demand for tools and platforms that can help them manage their operations more efficiently and effectively.
The pandemic has also accelerated the shift to subscription-based models, as more people have shifted to online services and purchases. As a result, there has been a surge in interest in subscription-based businesses, and many startups are trying to capitalize on this trend.
In addition to subscription-based businesses, Physical is also targeting the broader digital economy, which ifttt includes the gig economy and other businesses that rely on digital payments and transactions. The company’s platform is designed to help these businesses manage their finances and operations more efficiently, which is becoming increasingly important as the digital economy continues to grow.
The company’s founders, Cabrera and Kassin, have a track record of success in the software and media industries. Cabrera is a serial entrepreneur who founded Xactly, a cloud-based software company that went public in 2015. Kassin is a media executive who has worked at companies such as CBS and Fox.
With their expertise and experience, Physical is well-positioned to continue to grow and expand its platform. The company’s focus on subscription-based businesses and the broader digital economy freesabresult is also likely to pay off, as more companies move to these models and demand for software and platforms to manage these operations continues to grow.
In conclusion, Physical’s latest funding round is a testament to the company’s success in helping businesses manage their subscription-based models. The company’s focus on expanding its product offerings and reaching more customers is likely to pay off as demand for these tools and platforms continues to grow. With its experienced founders and talented team, Physical is well-positioned to continue to grow and succeed in the years to come.