Bezos And Mohr Davidow Back Stealthy Paperless Billing Startup Doxo
May 10, 2010 at 18:21 PM EDT
Paperless billing is the digital future that never quite fully arrives. Even among people who otherwise embrace the digital lifestyle, and pay their bills electronically, many find it difficult to give up on the paper statement. They feel they need it for their financial records or it serves as a physical reminder to pay the bill. And meanwhile, businesses are stuck sending out paper bills every month which on average cost $10 per customer per year. Stealthy Seattle startup Doxo is working on a way to increase the adoption of paperless billing. The company raised $5.25 million in a series A last November, which included the conversion of shares from a previous seed round. The round was led by Mohr Davidow, and Amazon CEO Jeff Bezos also invested through his personal investment vehicle Bezos Expeditions.