SendGrid Raises $5 Million, Sends A Bajillion E-mails

If you send 200 million e-mails a month you should meet SendGrid . The email delivery and management service has raised $5 million in its latest round of funding. Foundry leads the investor group, which includes angel investors Scott Petry (Postini founder) and Matt Mullenwag (Wordpress) and several of SendGrid's early backers, such as Highway 12 Ventures , David Cohen (TechStars), Jeff Clavier (SoftTech VC), Dave McClure (FF Angel). Foundry's co-founder, Ryan McIntyre , will join the company's board of directors. Since its Series A funding ( $750k back in December ), SendGrid (which was incubated by TechStars) has seen a nice boom in volume. Today, the company has 400 direct-paying customers, versus 100 in December. The service has also processed roughly 1.2 billion transactional emails.