Popular email startup Front has just finished a a new funding round to bring in more capital. Instead of choosing the traditional way however Front’s CEO Mathilde Collin decided to take a rather unusual route: a large-sized, later-stage investment group led predominantly by fellow software founders.
While this type of funding is not unheard of, it is unusual. For the email startup Front this seem to have been a successful round and they managed to raise $59 million to fund their future plans.
By the numbers, Front’s Series C financing announced on Wednesday isn’t unheard-of for the tech industry. The San Francisco-based startup raised $59 million at a valuation it says is four times its previous, which, according to data from startup tracker PitchBook, came in at $200 million when its $66 million Series B round was announced two years ago. By that estimate, Front, which declined to confirm it, would be valued at $800 million.
The majority of the money in this funding round comes from a small group of already-successful tech executives: Atlassian cofounder Mike Cannon-Brookes and president Jay Simons, Okta cofounder Frederic Kerrest, Qualtrics cofounders Ryan Smith and Jared Smith, and Zoom founder Eric Yuan.
We have some exciting news to share — we’ve raised $59million in Series C funding with support from investors including Sequoia Capital and top executives from Atlassian, Okta, Zoom, and Qualtrics!
We’re thrilled to continue investing in our product and customers. Here’s an early look at our product roadmap, and you can read more on our next chapter in Forbes.
This funding will now allow Front to move forward with their roadmap, which I must say look quite impressive.
I have used Front myself and quite liked it. It is however a product that really shines when used by teams rather than as an individual. With an affordable pricing starting at just $9/user this is a great choice for small to medium businesses with customer service and group collaboration in mind.
2020 will be an exciting year for email startup Front and i look forward to see their innovation as they move forward.