Launchpad Venture Group has just led a $1.2 Million Angel investment round in Repsly, a B2B Mobile Cloud solution provider that has recently relocated from Zagreb, Croatia, to Boston’s waterfront Innovation District.
"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," says Tim Curran, Repsly board member and Launchpad Venture Group member.
Investors in this round of funding
include Launchpad, 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.
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.
Here in the Northeast, we have all heard how Boston's Waterfront Innovation District has been drawing companies inward from the burbs, but this is the first one lured from Croatia.
To our new friends from Zagreb we
raise our glasses and say “Zhivio Boston! Dom graha i bakalara gdje
Lowells govore samo sa Cabotima, a Caboti samo sa Bogom.”
Or, in translation: “Here's
to dear old Boston, The home of the bean and the cod, Where Lowells speak only
to Cabots, And Cabots speak only to God."
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