easysend Raises $55.5M to Revolutionize Customer Interactions

The Rise of No-Code Platforms and EasySend's Funding

The adoption of no-code solutions is rapidly expanding across enterprise IT. Traditionally, individuals without technical expertise relied on developers for task completion. Now, startups creating these accessible tools are attracting substantial investment due to increasing demand.

EasySend Secures $55.5 Million in Series B Funding

EasySend, a Tel Aviv-based startup, has successfully raised $55.5 million in a Series B funding round. This capital will be allocated to platform development, talent acquisition, and business expansion.

The funding round was led by Oak HC/FT, with participation from existing investors including Vertex IL, Intel Capital, and Hanaco Venture. Additionally, EasySend secured $5 million in venture debt from Silicon Valley Bank.

Valuation and Revenue Growth

While CEO Tal Daskal declined to disclose the company’s current valuation, he confirmed it represents a fivefold increase compared to the previous round.

PitchBook previously estimated EasySend’s valuation at $31.4 million, suggesting a current valuation of approximately $157 million. The company has experienced significant revenue growth, particularly in the U.S. market, achieving a tenfold increase.

Customer Base and Key Verticals

EasySend currently serves around 100 enterprise clients across diverse sectors. These include education, government, financial services, and insurance.

The financial services and insurance industries are proving to be particularly strong markets for EasySend, with notable customers such as Cincinnati Insurance, NJM Insurance Group, PSCU, Sompo, and Petplan.

To date, EasySend has raised a total of $71.5 million in funding.

Addressing the Need for Digital Customer Journeys

Many businesses historically relied on paper-based forms for customer data collection. The individuals responsible for creating these forms often lacked technical skills.

As companies transitioned to virtual customer service environments, the need to digitize these processes became critical. Daskal and his team identified an opportunity to facilitate the creation of digital customer journeys “from scratch.”

The Impact of Digital Transformation and COVID-19

The shift towards “digital transformation” has accelerated, driven in part by the COVID-19 pandemic. This has spurred companies to move away from paper-based and offline operations.

This trend has positively impacted EasySend, providing a solution for organizations to empower their staff with digital tools.

Enhanced Functionality Through Analytics and AI

Digital tools are often more versatile than their analogue counterparts. EasySend is expanding its capabilities in analytics, enabling users to monitor engagement with their created interactions.

Future enhancements will incorporate AI-powered insights to deliver trending and forecasting data, as shared by Daskal with TechCrunch.

Future Plans: Integration and Expansion

EasySend intends to continue investing in new “customer journey” use cases and integrate technologies like RPA for seamless business integration.

The addition of services such as ID verification and e-signatures, alongside integrations with third-party technologies, could broaden the scope of interactions the platform can handle.

Industry Perspective

“Today, more than ever, companies need to create exceptional customer experiences to have a competitive edge,” stated Dan Petrozzo, partner at Oak HC/FT. “EasySend has transformed the way businesses deliver a digital experience to their customers in a quick and efficient way.”

Petrozzo further emphasized that the investment reflects Oak HC/FT’s confidence in EasySend’s leadership position in the digital era and anticipates substantial growth opportunities.