Corporate gift platform Sendoso raises $100 mln in round led by SoftBank

SAN FRANCISCO, Sept 14 (Reuters) - San Francisco-based Sendoso, a platform that makes it easy for companies to send gifts to clients or employees, said on Tuesday it raised $100 million in a round led by SoftBank Group’s Vision Fund 2.

“We take care of all the merchandise ordering. We have warehouses around the world that store that merchandise, and we kit things together with handwritten notes and multiple gifts and then ship it all out,” said CEO Kris Rudeegraap who started the company in 2016 as he experienced the frustration of doing that work himself as an employee in sales.

The platform plugs into various sales and marketing platforms for managers to keep track of the spending and assess the impact of the gifting, he said. It also offers experiences such as wine tasting as gifts.

Rudeegraap declined to share the latest company valuation, saying only that it quadruple the valuation of the previous funding round last year.

He said the new funds will be used to improve the platform and the product offerings and also expand the company’s footprint in Europe. (Reporting by Jane Lanhee Lee; Editing by Lisa Shumaker)