Toronto data-driven retail engagement platform Statflo has closed a $2.4 million seed round, led by Round13 Capital with an assist from a consortium of investors including Extreme Venture Partners, MaRS IAF, Globalive Capital, Rising Tide Fund, Garage Capital, Hedgewood and TIO Networks.
At the same time, Statflo announced a partnership with Vancouver’s iQmetrix, a retail management and customer experience technology provider.
“We are changing how wireless customer service is delivered,” said Statflo founder and CEO Kevin Gervais. “As wireless dealers and operators face the end of long-term contracts and competition from players such as Apple and Amazon, we’re giving them powerful tools to drive revenue growth and build hyper-local relationships that make customers happier.”
Working with wireless retail dealers and telecom providers, Statflo has seen its revenue climb by 500% over its 2014 figures as its product has been rolled out to hundreds of retail outlets across six major carriers, namely Telus, Rogers, Verizon, AT&T, Bell and U.S. Cellular.
“Statflo is a innovator and disrupter in the market for mobile dealer software,” said Ray Sharma, Executive Managing Partner with Extreme Venture Partners.
iQmetrix works to bridge the gap between physical and digital sales channels for retail stores, specializing in interactive retail offerings, including digital signage, in an attempt to engage and educate consumer during the purchase process.
“We’re excited to partner with Statflo because of their passion for bettering the wireless industry through Statflo’s powerful technology,” says iQmetrix Chief Operating Officer Kelly Kazakoff. “This seamless integration allows our clients to be more competitive through increased sales from repeat customers, faster reporting and streamlined reconciliation.”
Founded in 1999, iQmetrix is a privately held software company with offices in Canada, the United States and Australia.
“By partnering with iQmetrix, we can provide wireless retailers and operators with a powerful data-driven platform that drives higher revenue and lets them deliver better, more personalized customer service,” said Statflo’s Gervais. “It’s about making retail smarter and helping wireless retailers and operators be more successful.”