Doxo secures $10 million for online billing

Ronny Kerr · February 16, 2011 · Short URL:

Paperless billing platform aggregates all your providers--utility, phone, insurance, bank, etc.

Paperless billing platform Doxo is announcing Wednesday that it has raised a $10 million Series B round led by Sigma Partners, with participation from previous investors Mohr Davidow, an early-stage IT focused firm, and Bezos Expeditions, the management group for Amazon CEO Jeff Bezos’s personal investments.
Former OpenTable CEO Thomas Layton, the company’s only new investor, is joining Doxo’s board of directors, along with Greg Gretsch of Sigma.
Previously, Doxo raised a $5.25 million round led by Mohr Davidow Ventures and Bezos Expeditions.
On the consumer-facing side of the business, Doxo sells itself as a digital file cabinet for storing and managing bills. The (still invite-only) service lets users add any providers with which they have accounts, like utility, phone, insurance, bank, and credit card companies. With a single log in and password, the user gains access to all the accounts they’ve added and any related documents, which are stored on the company’s servers forever. Naturally, one can also sign up to receive notifications via email, SMS, and more.
For consumers, Doxo is completely free for 500 MB of storage per month. The providers are the ones who pay because, from Doxo’s perspective, they are the ones who benefit most monetarily, by saving on expenses of yesteryear, like paper, printing and postage.

While evolving towards 100 percent paperless interaction, companies can also take advantage of a service that increases engagement and drives Web traffic, argues Doxo. Interested businesses can try the service out for free, before committing.

On top of the funding news, Doxo also announced that it has added Puget Sound Energy to its list of partners, allowing the utility's 750,000 customers to receive their bills online. Besides Puget Sound Energy, thousands of providers are  listed by Doxo users, including AT&T, Chase, Bank of America, Comcast and Sprint.

Founded in 2008, Doxo currently employs 20 people, but plans to increase that number with this new funding.

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