The funding will enable the company to expand and execute private trials with some of the largest U.S. utility, insurance, banking, Internet, satellite, phone, travel and cable providers.
doxo, Inc., a Seattle, Washington operator of a new on-line service that enable people and providers to manage transactional documents such as bills, statements, notifications, and policy updates, paperless and in electronic format, has raised $5.25m in a Series A financing.
Investors in the round include Mohr Davidow Ventures and Bezos Expeditions.
doxo’s solution is aimed at delivering immediate savings to businesses of 80% or more over paper mail.
Each year in the U.S., more than 55 billion transactional documents – bills, statements, notifications, policy updates, and other critical documents – are delivered between businesses and their customers. Despite years of effort to get customers to “turn off” paper, only about 12% of this document volume is delivered exclusively in electronic format today.
Just the direct expense of paper, printing and postage for transactional mail costs businesses more than $35 billion each year.
In addition to the economic expense, the volume of transactional mail creates enormous environmental waste.