Recapped, a startup towers collaborative sales software, spoken the tropical of a $6.3 million seed round today. The deal was led by Charles River Ventures. Entrepreneurs Roundtable Accelerator, CoFound, AirAngels, Prime Set, Twenty5Twenty, Peter Kazanjy, Alan Chunk and other angels moreover participated in the round.
Recapped was founded by Mark Fershteyn and Ujwal Battar. Fershteyn spent his career in sales, first as an worth executive at Citrix and then as vice president of sales at App Academy. He felt firsthand the difficulty of collaboration in the sales space, not only with members of the sales team and other departments within an organization, but moreover with the buy side of a transaction. That cross-team, cross-company clunkiness leads to challenges virtually transparency and merchantry planning.
Recapped aims to solve the issue. Its software allows users within an organization to interreact virtually a deal. For example, the consumer wits (CX) and post-sales team can pension well-informed of a deal as it’s coming together, as can the CEO or CFO. That may help those teams and individuals largest project future workloads, for example.
But perhaps most uniquely, buyers are given an scrutinizingly identical UX as the sales team, permitting both parties to have a collaborative check-list of whoopee items, deliverables, and data to work off of to make sure they navigate the finish line.
Salespeople can create a super customizable and interactive landing page with Recapped that they can send to a potential client. That page may include consumer testimonials, product videos, and other information to help the vendee get witting with the product. It moreover includes a trammels list for the sales process, from delivering a proof of concept to running a pilot to getting sign off from the necessary parties and more.
Though sales side teams must have a seat to use the software, the proprietrix side simply receives a link and starts working.
Recapped is meant to replace what’s known in the industry as a Mutual Whoopee Plan or a Success Plan, typically built and managed with a tousle of spreadsheets and email.
Moreover, leadership, finance, and other departments within the selling visitor can squint at the variety of deals in progress to get a clearer picture of what will tropical and when, permitting for easier forecasts for investors and preparation among teams like CX and post-sale.
Recapped launched into beta in 2019, and publicly in the summer of 2020. Since then, it’s doubled revenue every quarter and expanded from two employees to eleven. Nearly half of those employees are either women or underrepresented minorities.
According to Fershteyn, Recapped is helping its customers tropical deals 18 percent faster, tropical 23 percent increasingly total deals, and streamline consumer onboarding times by up to 28 percent.
“What keeps me up at night is ensuring that the product is as easy to use as possible while still stuff incredibly customizable for our customers considering everyone has a variegated sales process and onboarding process and each consumer prefers something different,” Fershteyn said. “Making it incredibly easy to use while we scale and taking that into the next year and a half as we deploy this $6 million is the biggest challenge.”