NEW YORK, June 17, 2021 /PRNewswire/ -- Salesfloor, the industry-leading mobile clienteling and virtual selling platform for store associates, completed its Series B fundraising round with a $27 million investment by New York based Level Equity.
Founded in 2014, Salesfloor is a tool used by store associates to serve and sell to shoppers via live chat, video, email, text messaging and appointments. Global retailers like Saks Fifth Avenue, buybuy Baby, Holt Renfrew, Bloomingdale's, Ben Bridge Jeweler, and Chico's use Salesfloor to bridge the gap between online shoppers and in-store associates, resulting in a 10x lift in sales conversion rates and 50% increase in average order values. As of Q1 2021, the company doubled revenue and grew its customer base 67% year over year. Today 50,000+ store associates from retailers across the world use the Salesfloor platform.
"We are very pleased to have Level Equity as an investor and welcome them to our Board as we begin the next chapter of growth at Salesfloor," said Oscar Sachs, Co-Founder and CEO at Salesfloor. "Evolving the role of in-store associates has become a winning strategy for brands around the world. With the support of experienced partners like Level Equity, we are confident we will continue to lead the industry and continue to help our clients deliver results for their customers."
"Salesfloor has proven itself to be a leader in retail technology and a top vendor for some of the best brands in retail," said Charles Chen, Partner at Level Equity. "Salesfloor's team has grown the business impressively, having recently expanded its solution and customer base with a highly efficient use of capital. We are excited about working with the Salesfloor team on their continued growth prospects."
Salesfloor will use the new funds to develop new platform features, expand to international markets and grow the team across all departments.
"As stores around the world begin to re-open, companies are rethinking what tools are needed to engage customers in a post-pandemic economy," says Ben Rodier, Co-Founder and Chief Client Officer at Salesfloor. "This year, digital clienteling and virtual selling interactions on the Salesfloor platform are up 310% vs last year and in Q1 2021, platform transaction volumes surpassed $2 billion."
Stikeman Elliott LLP provided legal counsel services to Level Equity. Fasken Martineau served as legal counsel to Salesfloor.
Salesfloor is an award-winning mobile platform designed to personalize customer experiences. Salesfloor provides clienteling and virtual selling tools to engage customers on any channel, Storefronts for live online shopping with store associates, and mobile checkout for convenient in-store experiences. With over 50,000 associates from leading retailers in apparel, beauty, jewelry, and baby/toys, Salesfloor is modernizing the role of store associates. Retailers such as Saks Fifth Avenue, buybuy Baby, Holt Renfrew, Bloomingdale's, Ben Bridge Jeweler, Chico's and more choose Salesfloor to drive results such as higher online conversion rates, increased basket sizes and decreased return rates. For more information, visit www.salesfloor.net and follow Salesfloor on LinkedIn and Facebook.
About Level Equity
Based in New York and San Francisco, Level Equity is a growth equity firm focused on providing capital to rapidly growing software and internet companies. The firm manages over $1.7 billion across a series of long term committed investment partnerships. For more information about Level Equity, visit levelequity.com.
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