Total amount raised
$22.1 Millions
Latest funding date
02/01/2023
Location
Recurrency has successfully raised $22,125,000 over two funding rounds, with significant contributions from investors such as 9Yards Capital and Contrary. The platform is dedicated to automating and optimizing ERP functions for wholesale distributors and B2B retailers.
Keep reading to explore the intricacies of Recurrency's fundraising journey and the investors backing this innovative platform.
What Is Recurrency?
Recurrency, founded on August 6, 2018, by Sam Oshay, is headquartered in San Francisco, California. The company operates within the B2B, e-commerce, software, and wholesale industries, employing between 51-100 people.
Specializing in ERP automation, Recurrency helps wholesale distributors and B2B retailers optimize their pricing and sales processes. The platform automates sales, purchasing, and pricing workflows within existing ERP systems, driving revenue growth and enhancing customer experience.
How Much Funding Has Recurrency Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Develop the initial product and validate the business model.
- Seed Round
- Amount Raised: $125,000
- Date: August 2020
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Build a foundational team and further develop the product.
- Series A
- Amount Raised: $22,000,000
- Date: February 2023
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Scale the business, enhance product offerings, and expand market reach.
Total Amount Raised: $22,125,000. Current Valuation: Not publicly disclosed.
Key Investors
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a leading venture capital firm that has been investing in technology companies for over a century. They have a strong track record of identifying and supporting high-growth startups.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: LinkedIn, Shopify, Pinterest.
- Y Combinator
- Details: Y Combinator is a startup accelerator that has funded over 2,000 startups since its inception in 2005. It provides seed funding, advice, and connections to help startups grow.
- Investment Focus Areas: Technology, software, e-commerce.
- Notable Investments: Airbnb, Dropbox, Stripe.
- Lachy Groom
- Details: Lachy Groom is an angel investor known for his early-stage investments in technology startups. He has a background in product management and has worked with several high-profile companies.
- Investment Focus Areas: Technology, software, fintech.
- Notable Investments: Stripe, Figma.
- Elad Gil
- Details: Elad Gil is a serial entrepreneur and investor with a focus on technology and healthcare startups. He has co-founded several companies and has been involved in numerous successful ventures.
- Investment Focus Areas: Technology, healthcare, software.
- Notable Investments: Airbnb, Coinbase, Stripe.
- Contrary Capital
- Details: Contrary Capital is a venture capital firm that invests in early-stage technology companies. They focus on identifying and supporting the next generation of entrepreneurs.
- Investment Focus Areas: Technology, software, e-commerce.
- Notable Investments: Not publicly disclosed.
What's Next for Recurrency?
Recurrency stands at the cusp of a significant opportunity to modernize ERP systems for the vast $7 trillion US distribution industry. With plans to develop additional ERP modules like payments processing, pricing optimization, and e-commerce management, the company is poised to address critical pain points in the supply chain.
Given the ambitious product roadmap and the large market opportunity, Recurrency may pursue additional funding rounds to support growth and development. The increasing demand for AI-powered ERP solutions and seamless integration with existing systems further bolsters their growth prospects.
However, challenges such as competition from established ERP providers and ensuring seamless integration with a variety of existing systems could pose hurdles. Maintaining rapid product development and customer support as the company scales will be crucial for sustained success.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Recurrency and gather other critical business insights.
Sign up for free to start optimizing your sales strategies today.
