About TextNow
TextNow is a company based in Waterloo (Canada) founded in 2009 by Derek Ting.. TextNow has raised $2.92 million across 3 funding rounds from investors including Accelerator Centre, Freestyle VC and Menlo Ventures. TextNow operates in a competitive market with competitors including Rebtel, Pinger, textPlus, Tyntec and Fongo, among others.
- Headquarter Waterloo, Canada
- Founders Derek Ting
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Sectors
Telecommunications
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$2.92 M (USD)
in 3 rounds
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Latest Funding Round
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Investors
Accelerator Centre
& 3 more
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Employee Count
Employee Count
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Human Resources and Administration
7 people
Data Analysis and Operations Team
6 people
Leadership Team
5 people
Operations Team
4 people
Software Development Team
2 people
Product Management Team
2 people
Legal and Compliance
1 people
Voice Team
1 people
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Funding Insights of TextNow
TextNow has successfully raised a total of $2.92M across 3 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Last Round
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First Round
First Round
(19 Oct 2011)
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2020 | Amount | Seed - TextNow | Valuation | Accelerator Centre |
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| May, 2012 | Amount | Seed - TextNow | Valuation |
investors |
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| Oct, 2011 | Amount | Seed - TextNow | Valuation | Freestyle , Menlo Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in TextNow
TextNow has secured backing from 4 investors, including venture fund and angel investors. Prominent investors backing the company include Accelerator Centre, Freestyle VC and Menlo Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Startups are built and accelerated in a structured studio environment.
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Founded Year | Domain | Location | |
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Freestyle VC is engaged in seed funding for tech startups.
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Founded Year | Domain | Location | |
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Early-stage venture capital firm investing in AI, healthcare, and tech sectors.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by TextNow
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - TextNow
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Textnow Comparisons
Competitors of TextNow
TextNow operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Rebtel, Pinger, textPlus, Tyntec and Fongo, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cheap international calling services are provided by Rebtel.
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| domain | founded_year | HQ Location |
Free texting and calling are enabled through a cross-platform app.
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| domain | founded_year | HQ Location |
VoIP calling and messaging services are provided to global users.
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| domain | founded_year | HQ Location |
Mobile messaging services are provided for enterprise-customer connections.
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| domain | founded_year | HQ Location |
Free mobile voice calling is provided across Canada.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Textnow
Frequently Asked Questions about TextNow
When was TextNow founded?
TextNow was founded in 2009 and raised its 1st funding round 2 years after it was founded.
Where is TextNow located?
TextNow is headquartered in Waterloo, Canada. It is registered at Waterloo, Ontario, Canada.
Who is the current CEO of TextNow?
Derek Ting is the current CEO of TextNow. They have also founded this company.
Is TextNow a funded company?
TextNow is a funded company, having raised a total of $2.92M across 3 funding rounds to date. The company's 1st funding round was a Seed of $1.5M, raised on Oct 19, 2011.
What does TextNow do?
TextNow was founded in 2009 in Waterloo, Canada, as a provider of mobile communication services. Free texting and international voice calling are offered through an app available on Android and iPhone devices. An individual phone number is assigned to each user for receiving calls and messages. Access is enabled over WiFi or cellular data plans, with operations focused on North American markets.
Who are the top competitors of TextNow?
Who are TextNow's investors?
TextNow has 4 investors. Key investors include Accelerator Centre, Freestyle VC, Menlo Ventures, and Troy Carter.
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