(Bloomberg) -- Podium Corp.'s valuation has doubled to more than $3 billion from 2020 with the software maker's latest round of fundraising.
The Lehi, Utah-based startup, which helps small businesses interact with customers online, has raised $201 million in a round led by YC Continuity, according to the company. Accel, IVP and Sapphire Ventures are among the firms that participated. Podium's last valuation was $1.5 billion last year.
Podium helps small businesses like plumbers, car dealerships and dentists to do everything from digital payment processing to responding to customer messages. It has 100,000 local businesses as customers.
“The problem is most of these businesses don't have the technology to get found online,” said Eric Rea, co-founder and chief executive of Podium, adding that the startup that was launched in 2014 now has “well over $100 million in annual recurring revenue.”
Ali Rowghani, managing partner at YC Continuity was optimistic about the trajectory of Podium's business. “This will definitely be a public company,” he said.
©2021 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
