Repsly, a Boston-based provider of field team management software for retail brands, has raised $1.6 million for its second seed round and added local venture capitalist Woody Benson to its board.
The company's announcement on Tuesday comes after it has more than doubled its revenue for three consecutive years and became cash-flow positive earlier this year, with nearly 1,000 customers across more than 70 countries. The company plans to use the new funding, which previously raised $2.1 million from 2014 and 2015, to expand its senior team.
The round was led by Launchpad Venture Group, an angel investing group. Other investors in the round included LaunchCapital, Hub Angels, SideCar Angels and Companyon. Benson, who is a partner at LaunchCapital, will serve as an observer on Repsly's board.
Repsly's mobile-optimized software helps field teams for retail brands collect and analyze data about their products in stores.
“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,” Benson said in a statement. “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."
Correction: A previous version of this article incorrectly said that Woody Benson was a partner at Launchpad. He is a partner at LaunchCapital.
