SAN FRANCISCO – April 11, 2023 – Lob, a fast-growing direct mail automation start-up, has announced a significant milestone of $100 million in revenue, with 40% year-over-year revenue growth and a nearly 25% customer growth increase in the past 12 months. This success cements Lob’s position as a leader in the direct mail automation space and the company’s commitment to providing innovative solutions to its customers.
"We are thrilled to have reached this incredible $100 million in revenue milestone amidst a challenging time for the tech industry," said Leore Avidar, CEO and co-founder of Lob. "It is a testament to our team's hard work and dedication, as well as the innovative direct mail solutions we provide to our customers."
Lob's success is further evidenced by its rapidly expanding customer base, which includes Expedia, thredUP and SeatGeek. This momentum comes as Lob celebrates achieving several other milestones, including strategic executive hires and a close partnership with USPS.
"We are proud we have helped more than 12,000 customers modernize their direct mail processes and we are just getting started," said Avidar. "Customers have already sent over 1 billion mail pieces through our platform. We are a growing and profitable company and our vision is to continue to innovate and push the boundaries of what is possible for direct mail.”
Lob is the first end-to-end direct mail automation platform to transform antiquated print and mailing processes. The platform's ease-of-use, flexibility, and scalability have made it a popular choice among marketing professional wanting to combine online and offline communications.
“Lob is the only platform that enables marketers to build target lists, create scalable and hyper-personalized direct mail and then measure its results for continuous testing and optimization,” said Ryan Ferrier, Lob’s chief operating officer.
The company’s most recent executive hires are the latest examples of Lob’s ongoing commitment to strengthening the team to support its next phase of corporate growth and product development. Last year, Lob brought new executives to lead through the next phase of growth, including Chief Financial Officer Madhu Jagannathan and Chief Revenue Officer Cory Hogan.
As CFO, Jagannathan brings to Lob decades worth of financial leadership and his thorough understanding of making companies profitable and public to underscore Lob’s growth trajectory. As CRO, Hogan is leveraging his background in driving SaaS and digital sales, marketing and business development to focus on strengthening Lob’s partnership and strategic account pipeline.
“This is an important time of strategic growth for Lob, and the strength of our executive team is evident in our revenue achievement. The current team we have in place is poised to put us on the path to $250 million in the next couple of years,” Avidar said.
Last year, Lob transformed the direct mail landscape by providing 100% carbon neutral direct mail. “By offsetting the impact of every mail piece across its entire lifecycle, we are setting a new sustainability standard for direct mail and the marketing industry overall,” Ferrier said.
