Reach Influence has scored $5 million in seed capital to start off the new year, scoring investments from Detroit Venture Partners
and Vineyard Capital Group to lead the round.
The downtown Royal Oak-based startup specializes in helping retailers maximize their sales through analytics gathered from its software. It had previously received an investment from Vineyard Capital Group
in 2012, and plans to spend much of 2015 using its newfound seed capital to build on that initial investment's foundation.
"We are leveraging that mainly in people and technology," says Susan Dettloff, marketing director of Reach Influence
. "We plan to grow our team this year."
The 5-year-old startup has hired four people over the last year, including analysts and program managers. It currently has a staff of 22 employees and the occasional intern.
Reach Influence provides technical and design services, such as data capture and analysis, to retailers and wholesalers. The startup’s software platform helps its clients measure marketing efficacy, engage shoppers, and provide an outlet to deliver digital offers by collecting daily transaction data.
After Vineyard Capital Group made its initial investment in 2012, Reach Influence’s team spend its time improving its software platform and installing better processes in the business. It rebranded to Reach Influence in 2013 and has been growing the company ever since.
"We have grown our sales quite a bit," Dettloff says. "Every year has been a building year in one way or another."
Source: Susan Dettloff, marketing director of Reach Influence
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.