Outbox, the startup that digitizes your postal mail then puts it online for access via web, iPhone, Android or iPad, has raised $5 million in Series A funding. The round was led by previous investor Floodgate and included investment from Founders Fund, Correlation Ventures, TDF Ventures, WTI, Expansion VC, and Peterson Ventures, as well as other angel investors.
In total, Outbox raised from over 80 people using AngelList. This makes it the largest round ever raised on AngelList Invest, we’ve confirmed with AngelList founder Naval Ravikant, though not the largest total raise on AngelList. With Invest, accredited investors put in small amounts online, and AngelList creates an LLC on-the-fly that invests in the startup directly.
This is not the first funding round for Outbox — it raised $2.2 million back in 2011, also led by Floodgate. Earlier this year, when the company launched in beta in San Francisco, there were also hints that it would take on additional outside investment again in order to expand its service to other markets such as New York, Chicago, Boston, Washington, D.C., and L.A., one of which (likely NY) may go live by the end of the year.
Outbox was started by Evan Baehr and Will Davis, who had both previously worked on various committees in the U.S. House, before later meeting at Harvard Business School.
“I had this crazy idea that I wanted a Dropbox for my snail mail,” explains Davis, whose experience with today’s postal mail challenges was influenced by the fact that his family had moved six times in eight years. “I had this overwhelming pent-up frustration with postal mail,” he says.