SingleOps, an Atlanta-based business management software startup that caters to the green and outdoor services industry, has raised $1.6 million in a Series A round led by serial entrepreneur and founder of Atlanta Ventures David Cummings, with participation from all existing investors.
Cummings initially led the company's first seed round of $1 million in May 2017. Sean McCormick, founder and CEO of SingleOps, said a few angel investors and customers participated in the Series A round.
"We’ve been growing nicely and wanted to put some more fuel on the fire," McCormick said.
“SingleOps has evolved tremendously since the seed investment, achieving consistent 100 percent year-over-year growth. I was thrilled to lead the new financing, and look forward to SingleOps’ continued growth and seeing them create even more value for their customers,” Cummings said in a statement.
SingleOps builds business management software built specifically for the green industry, such as tree care, landscaping and other outdoor service businesses, McCormick said.
"These types of businesses when they get to be a certain size … they just have so many people in their business so it becomes very hard to manage," he said.
Most businesses in the green industry rarely grow over a couple million dollars in revenue, McCormick said, which is how SingleOps helps them operate their business from one platform. Customers have collectively processed over $1 billion in revenue directly through SingleOps.
The round will be used to enlist new workers in the sales and support division of SingleOps to further serve its existing verticals, while also using some of the funding for product development.
"It’s a growth equity round … the main goal is to build out the sales and support force," he said.
In June, the company plans to move into a 4,500-square-foot office space at Piedmont Center, with plans to nearly double its workforce in 2019, McCormick said.
Founded in 2014, SingeOps currently has 20 full-time employees and has grown more than 100 percent year over year. The company bootstrapped about half a million dollars before completing its first seed round with Cummings, bringing the startup's total amount raised to a little more than $2 million. McCormick said the company prides itself for being capital efficient without having to raise too much funding to function.
"We’ve been able to grow and make a meaningful business without taking too much capital," McCormick said.
