Programmatic direct-mail platform PebblePost, announced this week that it has secured $47 million in a Series B round of equity and debt funding.
That includes a term loan facility with Horizon Technology Finance that, together with a secured credit facility with Silicon Valley Bank (SVB), gives PebblePost access to $27 million. The extra $20 million comes in the form of equity from institutional and angel investors.
This announcement concludes the company’s Series B funding round that included $15 million raised in February of this year.
These funds will be used to enhance consumer operations, expand the company’s product offerings, enter new markets and add talent to the company.
"Horizon and SVB provided us with a compelling combined structure that allows us to accelerate development of our Programmatic Direct Mail platform to meet the demands of our current brands," stated Marita Scarfi, CFO of PebblePost. "This debt financing greatly enhances our balance sheet..."
PebblePost’s Programmatic Direct Mail solution connects digital data with tangible media offerings, by connecting online and in-store activity with households.