PromoRepublic raises $1.5M to build distributed marketing software and expand services available for franchise and multi-location brands.
Investors in the companies seed round include follow-on investment from Innovestor Ventures, Genesis Investments, several superangels and the Business Finland government fund. It’s not the first time PromoRepublic has attracted funding; overall, the company has raised nearly $5M to date.
”The company’s enterprise product tailored for large franchising businesses is showing strong traction, and economies of scale of the SaaS business model is kicking in” – commented Innovestor’s Wilhelm Lindholm
Since its founding in 2015, PromoRepublic has become one of the top social media marketing SaaS providers with over 20,000 active small business users to date. As some small businesses perform under national franchise brands, PromoRepublic recently launched a special solution for head offices to manage their local presence on digital for thousands of locations.
PromoRepublic’s 5-year history and knowledge of small businesses’ marketing philosophy has shown that partners who leverage vendor content, messaging, branding, and demand generation initiatives in their local markets drive a winning customer experience.
“We believe in business models that value partners in their ecosystem, be it franchisees or direct sales representatives. Not only does this model decrease the risks for entrepreneurs, it also nurtures a very personal approach to local customers, which is often impossible for large enterprise companies. We can now leverage our experience in serving thousands of small businesses for use with marketing teams of national and global brands who want to engage their representatives in marketing initiatives“ — says Max Pecherskyi, CEO & Co-founder of PromoRepublic.
According to Forrester’s latest research, the distributed marketing software market will reach $1.18 billion by 2023. This is due to the fact that 75% of all world trade today is indirect. In other words, selling and marketing to and through independent representatives, field salesforces, agents, and franchisees is the new normal. Nearly 50% of all brands invested in distributed marketing in some capacity, Forrester says. Marketing executives consider this approach the most effective for local customer experiences and the key to influencing new buyers. Lockdown and rapid digitization has motivated head offices to actively use software for consistent branding, while representatives create experiences for local customers online and offline.
PromoRepublic in the media:
For additional information:
Founded in 2015, PromoRepublic is a distributed marketing solution that connects small businesses, agencies, and multi-location brands with local audiences. Their 40+ team is spread worldwide: in Palo Alto, New York, London, Helsinki, and Kyiv. They’ve helped more than 200k businesses in 120 countries create more than 9 million social media posts and counting. For more information, visit promorepublic.com.