London-based SendOwl , a software company that develops tools for selling digital products online, announced on Thursday, February 16, that it has raised $9M (approximately €8.45M) in a Seed round of funding.
The round was led by new investor TheGP , with participation from returning investors defy.vc , a Silicon Valley-based early-stage VC firm, and Alumni Ventures , America’s largest VC firm for individual investors.
The round also saw participation from new investor Authentic Ventures .
What does SendOwl offer?
As social and business activities shifted to various digital channels, digital purchasing and selling became the new norm. The SendOwl platform empowers individual creators and businesses to sell and distribute digital products anywhere online.
SendOwl’s tools help sell, distribute, and handle virtually any digital product on the internet after purchase. It offers the digital economy with checkout and delivery tools like on-site checkout, unique payment links, subscriptions, drip campaigns, PDF stamping, download restrictions, and more.
The startup claims that its solution can help users go from zero to selling in under five minutes, and from one to 10+ million sales. Currently, the tool is used by tens of thousands of individual retailers and some of the world’s biggest creative firms, such as Bungie Inc. and Universal Music Group.
According to the company, its users have distributed more than $2B in digital goods through the platform, which has increased its monthly average users by 25 per cent or more in H2 of 2022 alone.
SendOwl says the funds will help accelerate the company’s product roadmap, increase the number of third-party integrations, and invest in key creator partnerships.
Matt Plotke, CEO of SendOwl, says, “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.”
The funding comes after the release of several other recent products by SendOwl, including Link App, which enables Linktree’s 30M+ users to offer digital products and services directly from their Linktrees.