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Utah-based Company Weave, raises $60 million accounting for a total of $970 Million, almost reaching the Unicorn mode.
FREMONT, CA: Weave, a startup that simplifies communications with customers, especially for businesses by integrating features like texting, phone service, fax, and reviews, has raised a $70 million Series D fund. The latest round accounts to total funding of $152.5 million. Weave is a step away from becoming a unicorn, as its present valuation is $970 million according to the statement published by the company. The company’s previous round of funding was conducted in December 2018, when it accumulated funds of $37.5 million in its Series C.
Weave’s money point in the idea hails from the proposition where it assists customers by reminding them for their appointments, texting callers back if the line is busy, and provides the profiles of the customer to businesses. When a customer calls the office, Weave’s technology presumably allows the calls to be answered while pulling up the entire fact file on her. All information, including upcoming appointments, missed payments, and other vital information, are shared before the call is picked. The company has the loyalty of more than 13,000 customers and proves useful for small and medium-sized businesses like dental offices and doctors offices.
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Weave has many of the best retention numbers we’ve ever seen for an SMB SaaS company , The company will be continually impressed by their accelerated growth and results. Weave is a section of Utah’s burgeoning startup scene that comprises Lucid Software and Divvy. It is also the first Utah-based company to join Y Combinator. The Series D funding will assist Weave in the plans for improving the products and enriching its developing internal presence. Weave competes with companies like Docmate, Doctible, and Solutionreach. The company have doubled its revenue in 2018 and decided to grow its foundational structure in Utah into 300 employees. In the beginning, the company was trying to reach 500 employees in actuality.
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