B2B Payments Startup Podium Closes $201M Series D Funding Deal

Local business communication and payments platform Podium closes a $201 million Series D funding round at a $3 billion-plus valuation led by YC Continuity, with participation from Durable Capital Partners, Arpex Capital, Accel, Album VC, IVP, Sapphire Ventures, Summit Partners and Sorenson Capital, according to a press release on Monday (Nov. 15).

The fresh infusion of capital will help Podium further its mission of helping local businesses embrace digital-first operations and transition analog operations to digital. The new funding will also assist Podium in branching out and reaching more community businesses around the world, building out their payments, communications and marketing technology solutions.

See also: Podium Unveils Card Reader for ‘Frictionless’ Payments

“We see this as a watershed moment for local businesses all over the world, especially as the world opens up again and local businesses are tasked with meeting the changing preferences of consumers who have welcomed digital-first interactions through the pandemic,” Eric Rea, co-founder and CEO of Podium, said in the press release. “Our goal is to help communities get back on their feet and to help local businesses participate in a meaningful way in the digital evolution happening at the local level.”

Founded in 2014 by Rea and Dennis Steele and headquartered in Lehi, Utah, Podium strives to help local businesses integrate digital processes to better serve their customers, offering solutions for digital payments, text messaging, website chat, marketing campaigns and more.

Read more: Podium Lands $125M to Expand Contactless Payments Over Messaging

“Podium brings world-class marketing and payments tools to the small and medium businesses that power our economy and employ the lion’s share of workers. These businesses have traditionally been overlooked by technology companies,” says Ali Rowghani, managing director of YC Continuity. “Podium’s products level the playing field for SMBs and help them compete in a changing world.”

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