Repsly secures funding from First Beverage Group, Launchpad Venture Group and K5 Ventures, moves HQ to Boston
Central European B2B Mobile Cloud company develops solutions that simplify field work,
Boston, MA., June 17, 2014. Repsly Inc., a B2B Mobile Cloud solution provider who simplifies field management and increases field team effectiveness, announced that it has secured a round of funding led by Launchpad Venture Group, First Beverage Group and K5 Ventures. The company, which has been operating since 2010 as Salespod, is a SaaS business that manages the activities of field reps and the data that they collect. Repsly’s clients include companies such as L'Oreal, Nike Golf, KIA Motors, Keune, Philips, Doctors Urgent Care, Schweigen Home Appliances, and Lavazza, who use this solution to drive higher accountability and efficiency within their field teams. Customers in 40 countries also leverage Repsly to gather and analyze data generated by their reps about everything from product performance, to competitive actions, customer demographics, and service delivery.
ensuring that field teams are productive and successful
Tom First, Managing Partner, First Beverage Ventures and founder of Nantucket Nectars said that the firm was interested in Repsly because the solution is such a strong fit for companies selling consumer products through retail channels. “We are very excited to be involved with Repsly, not only because of the impact they can have on food and beverage companies, but because of their broad applicability to any organization with teams in the field.”
Repsly will use the funding to invest in growth. “We have developed a disruptive product and built great success with clients around the world,” said company Co-Founder and CEO Marko Kovac. “This round of funding will enable us to aggressively spread the word about Repsly by allowing us to invest in sales and marketing infrastructure.” The company recently hired Richard April as Senior Vice President of Marketing to build its sales and marketing organization.
Tim Curran, Repsly board member and Launchpad Venture Group member stated“I have been following and advising Repsly for over a year, as I was attracted to their extremely positive customer references, triple-digit organic revenue growth and the high quality solution they have developed to address market needs.”
Repsly, Inc. is a business-to-business software as a service (SaaS) company focused on providing a solution to simplify processes for field teams and their managers. With customers in over 40 countries, Repsly targets organizations with field reps that visit established clients on a recurring basis to perform customer service and field management functions, such as taking replenishment orders, merchandising products on retail shelves, marketing for referrals, or performing regular maintenance. Deployed by leading global brands as well as innovative start-ups, Repsly enables these organizations to improve the efficiency of their field teams, and greatly simplifies the collection and analysis of field data. As a result, Repsly’s solution helps organizations create a tight connection between the field and back-office operations. Founded in 2010, Repsly is headquartered in Boston.