Yesware Raises New Funding And Changes CEO

Yesware, an email productivity platform for salespeople, has pulled in $15 million in new funding. In addition, its CEO and co-founder Matthew Bellows has stepped down to be replaced by Joel Stevenson.

Bellows will continue in his post as chairman of the board of directors. He will also assume a full-time role of managing partnerships, the company says.

Prior to this, Stevenson served as chief operating officer of the company, and before that as its VP of sales and marketing. He also spent seven years in senior leadership roles at Wayfair.

The funding round was led by Foundry Group, with participation from existing investors Battery Ventures, GV, IDG, and Shea Ventures. The company has reached total funding in $48 million. The money will be invested in product development.

In a blog post, Bellows says he feels it is time to bring the firm, which was founded in 2010, to the next level.

“The biggest company I’d run before Yesware was our first startupwhich topped out at 7 employees and $1.5 million in revenue,” he writes. “I’ve been the CEO of Yesware for eight years and it’s been a great run. But we’re now more than 10x bigger a company than I’ve ever led before. More importantly, we have both the ambition and the financing to go another 10x from here.”

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Bellows notes that his CEO position was “the best job I’ve ever had in my life.”

Yesware offers an email productivity platform that it claims helps sales teams prospect, connect, and close with accounts.

 

 

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