Westlake Village, CA – August 24, 2009 – Zumbox, the world’s first and only paperless postal system, today announced the closing of its Series A funding with a total of $8 million raised. Investors include Art Bilger (Managing Member of Shelter Capital Partners, LLC) Rick Braddock (Chairman and CEO of Fresh Direct and former Chairman and CEO of Priceline.com), Michael Eisner (Founder of The Tornante Company and former CEO of The Walt Disney Company), Bill Guthy (founding principal of Guthy-Renker) and Donn Rappaport (CEO of Zumbox and Founder and Chairman of ALC).
Zumbox has created a web-based platform that powers the world’s first paperless postal system. The company has created a digital mailbox – a Zumbox – for every street address in the country. Postal mail can now be sent as digital files and received online, with no paper, printing or postage, and no scanning.
Zumbox represents the first practical alternative to traditional postal systems. By using Zumbox, businesses and other organizations not only enjoy significant reductions in their mailing costs, but also substantially reduce their environmental impact. Consumers enjoy greater convenience as well as a richer mail experience by accessing their mail online, going paperless, and receiving multimedia content in an entirely new and innovative way. Zumbox also represents an important alternative to commercial e-mail. Zumbox is secure (it is a closed system with bank-level security); it is based on an individual’s permanent street address as opposed to his or her e-mail address (providing greater accountability and reliability); it offers rich media capabilities; and Zumbox is spam-free.
“Despite a severely challenging economic climate, we were able to successfully complete this round of funding,” said Zumbox CEO, Donn Rappaport. “New investors include some of the most well-known and widely-respected names in the technology, marketing and entertainment industries.” Adding, “Zumbox is an idea whose time has come. We see their support as a testament to the fact that the world is ready for this new communications medium.”
Following a successful pilot in New Lenox, IL, Zumbox has exited beta and will launch the first stage of its national rollout starting in Q4 of this year. The company will facilitate delivery of paperless mail to approximately one million households in select markets through partnerships with municipal governments and media companies as well as both national and local mail senders.
“Zumbox has truly created a new communications medium, one that’s certain to be as valuable as it is disruptive,” said Rick Braddock, Chairman and CEO of Fresh Direct. “By combining the unique address system of the USPS with the power of Web 2.0, the company is revolutionizing how content of all types can be distributed, accessed and consumed.”