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Vestaboard Announces Additional $5M Seed Capital With Strong Participation from Customers
Tuesday, September 20, 2022
Captivating Messaging Display Projects Strong Growth After Last Year's Revenue Grew Seven Times from 2020.
SAN FRANCISCO, Aug. 23, 2022 /PRNewswire/ -- Vestaboard, the premiere messaging display made to help people inspire each other at work and at home, is kicking off a new round of seed funding led by customers. The brand is known for their innovative design that modernizes a classic display - bridging the gap between technology and human connection. Vestaboard aims for significant growth in 2022 and 2023 after multiplying revenue seven times in 2021 from 2020. The funding round will help the brand move from a pre-order to an inventory-based model, meet marketing and sales plans and commence R&D for a second, more economical display.
"People are truly gravitating toward Vestaboard for its aesthetic value and the impact a Vestaboard message has on individuals and families at home, and people in the workplace," notes founder Dorrian Porter. "We foresee Vestaboard and our future products being a compelling part of modern-day lifestyles. We are excited about the innovation ahead and by the incredible backing and love from our customers."
"Vestaboard is a design and engineering triumph," said David Bohnett, founder and general partner of Baroda Ventures. "The team has delivered world class hardware and software during exceptionally challenging times. The company is growing substantially with its magical first product, robust software and has exciting plans for future displays. "
To date, Vestaboard has now raised $10M in seed capital, and over 70% of the brand's accredited investors are customers including professional investors, entrepreneurs, technology and design executives. The brands' investors include David Bohnett via Baroda Ventures, VP of Engineering at Shopify Farhan Thawar, venture capitalist and angel investor Hany Nada, LA social impact entrepreneur and designer Bridgid Coulter Cheatle, and financial commentator and investor in public and private companies Howard Lindzon. The company expects to add additional investment in the coming months.
Vestaboard was built on the notion that people are at their best when they feel connected and inspired by each other. Vestaboard's shared messaging experience brings people together and creates spaces that build joyful connections. The display's 132-fluttering bits make endless combinations of color, numbers, letters and punctuation for users to send just the right message at just the right time. Vestaboard+, the brand's optional paid software that enables owners to curate and automate content for their Vestaboard from a vast and growing library of channels, debuted in February with rapid adoption. Having recently announced the limited-edition Vestaboard White available for pre-order, displays are designed in flagship black or white to create an eye-catching canvas in any room.
Vestaboard is available at http://vestaboard.com for $2,995.
ABOUT VESTABOARDVestaboard was made to help people inspire each other - a sleek design, users can send any message at any time from anywhere. Vestaboard's 8,448 flaps flutter to create a welcomed, mesmerizing sound and encourages people to look up. An experience that combines both the visual and auditory senses, Vestaboard's concept is unlike any other form of electronic communication as it offers focused, high-visibility messaging that brings people together and creates more inspiring environments. Vestaboard+, the brand's optional software subscription, enables owners to curate and automate content from a vast and growing library of channels. For more information about Vestaboard, please visit vestaboard.com or contact vestaboard@autumncommunications.com.
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SOURCE Vestaboard
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