February 11, 2016
Statflo today announced it has successfully closed a $2.4-million seed round to accelerate its growth.
Selected by CIX as one of Canada’s’ most innovative startups, Statflo also unveiled an exciting new strategic partnership with iQmetrix, a leading provider of retail management and customer experience technology.
“We are changing how wireless customer service is delivered,” said Kevin Gervais, Statflo’s co-founder and CEO. “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.”
Statflo delivers a powerful data-driven platform helps technology retail stores drive more sales, keep sales reps more engaged, and deliver a more modern, authentic customer experience.
The company’s customers span across independently-owned and corporate-owned wireless retail dealers, as well as telecom providers. The platform has been rolled out to hundreds of locations across six major carriers, while revenue climbed 500% last year from 2014.
“Statflo is a innovator and disruptor in the market for mobile dealer software,” said Ray Sharma, Executive Managing Partner with Extreme Venture Partners.
Craig Strong, Partner with Round13 Capital, agrees that “Statflo's technology gives wireless dealers and carriers a more proactive, effective way to reduce churn and increase sales with their existing customers."
Through this new partnership, iQmetrix will help its wireless dealer customers drive higher sales and ROI using their existing data.
"We are excited to partner with Statflo because of the powerful technology and their passion for bettering the wireless industry,” says Kelly Kazakoff, Chief Operating Officer at iQmetrix. “This seamless integration allows our clients to be more competitive through increased sales from past customers, faster reporting and streamlined reconciliation.”
The latest funding was led by Round13 Capital. It also includes a consortium of investors from Toronto, Kitchener, Vancouver and Menlo Park, including participation by Extreme Venture Partners, MaRS IAF, Globalive Capital, Rising Tide Fund, Garage Capital, Hedgewood and TIO Networks.