SAN FRANCISCO –– SendOwl, a technology company that provides the infrastructure to transfer, manage, protect and collect payment for digital products, has secured $9 million in seed funding in a round led by by new investor TheGP, with participation from returning investors defy.vc and Alumni Ventures, and new backer Authentic Ventures. The new funding will be used to accelerate the product roadmap, increase the number of 3rd party integrations, and invest in key creator partnerships.
SendOwl is building the “digital product rails for the internet” with a set of powerful and scalable tools designed to help people share their knowledge and passion with the world and in the process get paid for doing what they love. It is now the preferred tool for tens of thousands of independent merchants, as well as some of the world’s largest creative companies including Bungie Inc. and Universal Music Group.
“We believe scaled internet commerce was built primarily with physical goods in mind, and we’re excited to build a ground-up commerce layer for digital products,” said Matt Plotke, CEO of SendOwl. “We hear from creators all the time how much of a game-changer it is for them to control their revenue streams, and I look forward to continuing to expand the product and team to service an ever-growing user base. Completing this round at a significantly increased valuation to our last is further validation that our vision is resonating.”
SendOwl says users have delivered more than $2 billion of digital products using the platform, which grew its monthly average users 25%+ in H2 of 2022 alone. The funding comes shortly after several other recent product launches, including the Link App, which allows Linktree’s 30M+ users to sell digital products and services directly from their Linktrees.
“We are incredibly excited to partner with Matt and the team at SendOwl,” said Phin Barnes, Co-Founder of TheGP. “It’s rare to find a company with such strong product market fit when it comes to helping creators build sustainable businesses. That’s why we were eager to provide the partnership and funding they needed to build the infrastructure to support these creators.”
“At defy.vc we saw the massive opportunity in front of SendOwl early on and it was a no brainer to continue to invest behind the vision and Matt’s leadership,” said Bob Rosin, partner at defy.vc. “With the tremendous growth in digital goods commerce, the need for an infrastructure solution is something that reminds me of the early days at Stripe.”
