Extend Just Closed a $40M Series B Round of Funding, Ten Months After Our Series A
Please join me in welcoming Meritech Capital and PayPal as new investors in Extend, along with welcoming hundreds of new merchant partners including Peloton, iRobot, Harman / JBL, Advance Auto Parts and more!
When Joe Moss, Michael Darmousseh, Rohan Shah, and I started Extend in February 2019 we were excited about the tremendous potential to expand the extended warranty market, and the opportunity to build a company that was focused on providing customers with an honest and easy to use protect plan offering. With the addition of this new capital we are well positioned to continue Extend’s rapid growth as the leader in the API-first extended warranty and protection plan industry.
This fundraising milestone is a reward for all of the amazing Extend team members who have worked so hard to get this company to where it is today. Their commitment to making Extend easy to integrate for merchants, while at the same time transparent and fair to consumers, is what has consistently pushed us forward. One of our company rituals, on the sales team, is our “Where would I be without you Wednesdays” where we thank individual team members for their contributions. Today, though, I am sincerely thanking all of you for getting Extend to this position in just nineteen months. I could not be more energized about our future.
Although we have come so far in a short amount of time, we believe that we are just scratching the surface of what is possible. We will continue to reshape a legacy industry that has let consumers down for too long. With the addition of Meritech and PayPal, along with the continued support of Great Point Ventures, we are well on our way to building one of the most impactful companies in the $100B+ extended warranty industry.
Extend will continue to build our team, as we plan on hiring over 120 people in the next year across all positions - with a keen focus on engineering, product, and design. If you are interested in learning more and joining a mission-driven team that works hard and is truly collaborative, please check out our open roles here.
You can read the full press release here.