Replika Software Secures Series A Financing from LVMH Luxury Ventures and L'Oréal BOLD Ventures to Power the Future of Social Selling
NEW YORK, Jan. 27, 2021 /PRNewswire/ -- Replika Software, the turnkey social selling solution enabling brands to empower their networks of social sellers to inspire and sell online, has completed its Series A financing round with LVMH Luxury Ventures and L'Oréal BOLD, both investment arms of their parent companies. The funding will enable Replika to aggressively expand its global footprint of brands and industries which can significantly benefit from creating new social selling channels. With this financing, the company plans to continue investing in its technology, introduce new breakthrough features and add to their team to support the rapid adoption of the platform. Representatives from LVMH Luxury Ventures and L'Oréal BOLD (Business Opportunities for L'Oréal Development) will be a part of Replika's Board of Directors.
Kareen Mallet, Co-founder of Replika Software, said, "When we founded Replika, we envisioned a future where every brand would be able to benefit from the power of social selling. After concluding commercial arrangements with several Maisons of LVMH and brands of L'Oréal, it is tremendously satisfying to see that the investment arms of two of the world's most forward-thinking companies have decided to invest in our vision. We're thrilled to have their support as we enter this phase of growth and lead the industry towards humanizing online shopping."
Replika's relationship with LVMH started in 2019 when the group discovered and selected the solution to be highlighted at the Vivatech Innovation Awards. The company was then invited to participate in LVMH's accelerator, "La Maison des Startups", at Station F and their business relationship has continued to expand ever since, with deployments in both Europe and the US. The journey with L'Oréal began when their Chief Digital Officer, Lubomira Rochet, a true advocate of Social Commerce, identified Replika out of over 1,000 startups exhibiting at Vivatech and she has continued to pave the way within the organization for brand deployments across all divisions, in countries around the world.
"The Series A financing builds on an exceptional year for Replika. We were able to rapidly grow a roster of clients across several verticals, introduced important programming and feature upgrades, while solidifying our management team with key executive appointments. We believe this funding will help us shift the current online selling paradigm, not only in the fashion and beauty industries, but in the broader healthcare, entertainment, travel and electronics industries as well," -said Corey Gottlieb, Co-founder.
About Replika Software
Replika Software is an award-winning turnkey social selling software that enables brands to activate their network of social sellers to sell online, inspire on social media and connect with consumers anytime, anywhere. The company is based in New York and Paris, at Station F. with La Maison Des Startups/LVMH. Former Fashion Director from Neiman Marcus & Bergdorf Goodman, Kareen Mallet, along with Advertising Executive & Serial Entrepreneur, Corey Gottlieb, founded the company in 2016.
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SOURCE Replika Software Inc.
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