The series A funding round for PowerInbox has led the email platform company to raise a $ 10 Million. Participants in this funding round included Longworth Partners, Battery Ventures and Atlas Ventures. Gimy, Genesis and Correlation Ventures were some of the other participants having funded in this round. The company had earlier raised a $ 1.9 million from its seed funding round which had included participants like Correlation, Atlas, Longworth and some other angel investors.
Another company that recently raised a similar amount from its Series B funding round was ActivePath. With participants like Battery Ventures, Gimy and Genesis Partners, the company raised a $ 10 million in its round of funding held in September 2011.
Powerinbox and activepath came up with the idea to merge off late this summer, after having realized that they share similar viewpoints.
While PowerInbox mainly targets the consumer space, ActivePath, on the other hand bases its install in its enterprise. Its social email platform called active mail was founded in 2007.PowerInbox mainly focused on turning email into a platform for its developers to build applications of their own by using an API provided. The company has in fact offered around fifty of its interactive apps to its users.
With the idea kicked off, the two companies are now one and will move forward in offering both enterprise and consumer products. PowerInbox is now the company’s brand name. ActivePath has now added its key product components to the platform belonging to PowerInbox. Jeff Kupietzky, the former CEO of ActivePath will now serve as the CEO of the newly combined company.
Lance Jackson,Dileep Thazmon and Matt Thazmon, founders of PowerInbox will play their management roles and focus on the development of the company’s product. With 500000 users spread over, 50 email applications, the newly joint company will have served more than 500000 interactive emails in the previous year.
Working with email providers the company will move to presenting before its users email solutions which are dynamic, interactive and which do not require downloading. Also, email games like Poker and Scrabble will now be available to consumers.