Toronto-based Statflo has raised a $12 million Series A round.
The round was led by Elsewhere Partners, with participation from existing investors Round13 Capital and Globalive Capital, as well as new investors Generation Ventures, and automotiveMastermind co-founders Johannes Gnauck and Marco Schnabl.
Statflo will use the new funding to accelerate development of its intellectual property.
Statflo’s solution is targeted to wireless and tech retailers. The platform identifies the best leads for sales associates to build a path to purchase across phone, digital, and messaging, while providing an interface for front-line staff to communicate with customers.
“This investment demonstrates the market demand for Statflo’s data-driven technology for wireless retail,” said Kevin Gervais CEO of Statflo. “Retail workers are looking for ways to drive more traffic and transactions. Personalized interactions are key to driving sales, and our platform gives those retailers the technology to make things personal.”
To date, Statflo has raised $16.5 million. The company will use the funding to accelerate development of its intellectual property.
“Statflo has created a new, engaged interaction layer between a wireless retail store and its customers much the way automotiveMastermind did in the retail automotive space,” said Elsewhere Partners co-founder and principal Sam Kentor, who invested in automotiveMastermind while at JMI Equity. “In doing so, it is helping modernize brick and mortar stores in the wireless retail market by enabling a more intimate and human experience while helping them establish an ongoing relationship and a more engaged customer base.”
Kentor and Generation Ventures partner Laura Lenz will join Statflo’s board of directors.
Photo via Unsplash.