LEHI — Utah's Podium is on an incredible growth arc since launching its reputation and customer interaction software in 2014. On Thursday, the company broke ground for a new $20 million headquarters.
Podium innovated a cloud-based platform that helps offline businesses attract, communicate with and retain customers through the careful management of their online presences and messaging tools.
While the business began in co-founder and CEO Eric Rea's Provo apartment five years ago, it is now pulling in $60 million annually in recurring revenue and employs 500. The new, 130,000 square-foot, five-story facility will allow Podium to accommodate over 800 additional staff members.
“We’ve been helping local businesses modernize the way they interact with customers, and as they’ve grown, so have we,” said Rea. “Local businesses are the lifeblood of our economy and our communities. This new building will allow us to continue to scale and grow to help fill the communication gap between those businesses and their customers.”2 comments on this story
Podium has attracted the attention of a slew of heavy-hitting venture capital firms and raised over $92 million in venture funding to date. The latest capital infusion came in last year's $60 million Series B round, led by Silicon Valley's Institutional Venture Partners, with participation from GV (formerly Google Ventures), Accel, Summit Partners and Y Combinator.
Thursday's groundbreaking comes just nine months after Podium cut the ribbon on a new $10 million, 125,000 square-foot facility, located right next door to the new building.