Mail Scanning Startup Looks for Series B
Earth Class Mail Corp., a Seattle-based company that aims to re-invent the business of delivering snail-mail, is out to raise between $11 million and $20 million for its Series B financing within the next several weeks, CEO Ron Wiener tells peHUB. The startup last year raised $13.4 million in a Series A round from Ignition Partners and the Keiretsu Forum, a group of angel investors. In addition, the company secured a $3 million senior secured debt financing from Comerica and a $5.1 million convertible note financing last year, for a total of $21.4M of capital raised to date. Earth Class Mail works with postal services to scan mail and deliver it electronically to its clients. The service is said to be green since it helps to reduce carrier miles and promotes recycling.
