Shoeboxed acquired by Earth Class Mail
Receipt and business card digitisation company Shoeboxed has unboxed some major news. The North Carolina-based company has been sold to Earth Class Mail, after having raised $2.5 million since it was founded in 2007. The terms of the deal were not disclosed, reports Julie Muhn at Finovate.
Founded in 2004, Earth Class Mail offers a postal mail scanning and forwarding service to help businesses and frequent travellers clear paper clutter.
The Texas-based company receives, processes, and digitises clients’ paper mail. It then enables users to view, access, search, and share the cloud-hosted, digitised versions.
After processing the paper copies, Earth Class Mail either stores physical copies on premise or shreds the paper, if the client prefers.
Additionally, Earth Class Mail leverages integrations with third parties to automate actions required. For example, if the piece of mail is an invoice, it will send it to Bill.com or sync it to cloud storage. The company will even deposit a cheque on the user’s behalf.
With the acquisition of Shoeboxed, Earth Class Mail will help users get rid of another source of pesky paper – receipts. Another benefit Earth Class Mail gains with the acquisition are Shoeboxed one million customers in 90 countries, half of which are small businesses in the US.
Last August, Shoeboxed launched Fetch, an “expense-report-free” expense reporting solution for small businesses.