Zumbox Raises More Than $10 MillionTuesday, July 10, 2012
Digital postal service company Zumbox announced Tuesday that it has closed a $10.6 million funding round, bringing its total to date to $28 million.
The Inglewood company essentially creates an email inbox for each home, based on residential street address. Zumbox users receive digital copies of mail from those companies that agree to use the Zumbox system. Home customers, once comfortable with the system, could turn off their paper mail and receive their correspondence digitally.
The three-year-old company claims to be able to reach 120 million consumer households in the United States.
Representatives from Zumbox said they plan to use the money to market and develop the company’s technology and to fund operations. The round included money from Zumbox Chief Executive John Payne and Australian venture partner Computershare.