Repsly Secures $1.6 Million Seed Funding
Repsly, a SaaS company changing the way teams do work in the field, announced it has completed a $1.6 Million second seed round of financing and has added tech veteran Woody Benson to its board of directors.
The investment round was led by Launchpad Venture Group, the largest angel investing group in the Northeast and one of the top three most active groups in the United States. Joining Launchpad were existing and new investors, including LaunchCapital, Hub Angels, SideCar Angels, and Companyon. Benson, a Partner at Launch Capital, joins Repsly's board of directors as an observer.
The fundraise comes after three consecutive years in which Repsly has more than doubled its revenue with initial seed funding from 2014 and 2015. Repsly has grown to nearly 1,000 customers in more than 70 countries, and established itself as cash flow positive earlier this year. This investment will enable the company to add talent and experience to its senior team in preparation for continued acceleration of its growth.
"At a time when retail is changing faster than ever, Repsly is in a great position to empower brands to grow by enabling them to collect and use data to make smarter decisions in the field," said LaunchCapital's Woody Benson. "It's always exciting to get involved with a company at this stage of growth, especially one so committed to embracing the paradigm of consumerized enterprise software."
Repsly's mobile-first platform gives brands a framework for collecting and analyzing data about their performance in the field, helping high-growth teams achieve the level of organization and analysis they need to win in the competitive retail environment.
"We have worked hard to keep Repsly simple and intuitive while making it powerful enough to transform teams and give brands a competitive advantage," said Repsly's co-founder and CEO, Marko Kovač. "As the world of retail evolves, we are looking forward to empowering more and more brands with the tools they need to keep innovating."