NEW YORK and TEL AVIV, Israel, REACH, a leading digital commerce and collaboration platform built for real-time customer transactions, is announcing $7 million in Series A funding, led by Grayhawk Capital and Pritzker Group Venture Capital, with participation from seed investor NFX.
The capital raise brings REACH’s total funding to $13 million. REACH’s cloud platform empowers businesses like never before with document collaboration, e-signature, video conferencing, ID verification and payments, all in one single platform.
“Businesses today are under increasing pressure to streamline customer engagement and sales,” said REACH CEO Yair Ravid. “REACH’s platform empowers businesses to handle every aspect of customer sales process securely and in real-time – without the friction, cost or complexity that’s created by using multiple solutions.”
Why REACH?
The move to remote work during the pandemic has been an incredible catalyst for digital transformation, fundamentally changing the way companies across industries conduct business. Most companies today are having to adopt multiple technology solutions, leading to integration issues, higher costs, as well as unneeded complexity and fatigue with customers.
REACH solves these challenges by providing companies with a comprehensive suite of tools – everything they need to communicate, close deals, and provide support to customers in the moment. Customers can quickly and securely fill out forms, sign documents, confirm their identity, and complete transactions, all while having a live audio or video chat with the agent or customer representative. This is done with a complete audit trail and recording for compliance purposes, making conducting business easier than ever for agents and customers.
REACH is quickly emerging as the leading solution for businesses with higher value or more complex transactions with customers where a human needs to be in the loop to provide the customized attention and confidence needed to complete a transaction. Mortgages, insurance policies, bank loans, or other sales can be processed quickly and securely using REACH’s platform. With no downloads required, clients can easily and efficiently collaborate with a company’s agent via their mobile device to complete a transaction just as if they were in person.
“REACH was purpose-built to solve the remote business challenges companies face today,” shares Ravid. “Imagine giving your clients the same feeling and confidence as an in-person meeting with every virtual interaction. REACH is designed to foster stronger agent and customer collaboration with a real-time experience where both parties can share information simultaneously.”
REACH’s virtual workplace platform is fully customizable, integrating seamlessly into any company’s existing workflows and systems – allowing them to complete entire customer journeys in a simpler way. The solution integrates into businesses via an open API or through integrations into business systems like Salesforce and Microsoft Dynamics and was built with privacy and safety in mind. In addition, a “self-service mode” gives enterprises the flexibility to choose how to engage with customers.
“Too often we see enterprises take a Frankenstein approach to digital customer engagement with disparate solutions for workflow management, eSignature, video conferencing and beyond” said Leib Bolel, Partner at Grayhawk Capital. “More challenging, these platforms aren’t integrated or real-time. We invested in REACH as a fast-growing platform that’s truly reshaping the future of digital commerce, helping businesses across industries to streamline how they communicate with customers, negotiate contracts, and transact all in one platform.”
REACH rapidly building momentum with enterprises
Since the beginning of the pandemic, REACH has quickly built momentum with customers across financial services, insurance, mortgage and automotive industries adopting its cloud software, leading to an 8x increase in revenue (from Q1 2020 to Q4 2021). American Express, Mercedes-Benz (Daimler AG), British American Tobacco and SCSK Corporation are just some of the notable customers worldwide that use REACH to deliver a frictionless customer experience.
“Customers today expect conducting business with companies to be simple, intuitive and real-time,” said Adam Koopersmith, Managing Partner at Pritzker Group Venture Capital. “REACH is delivering that ease of use, bringing real-time communications, workflows, and commerce together in an intuitive platform built for B2C companies. We couldn’t be more excited to invest in this Series A financing of REACH as they continue to execute on their vision.”
REACH will use the proceeds from the investment round to accelerate adoption of its virtual workplace platform, sales, marketing, product development, and go-to-market activities.
This article was shared with Prittle Prattle News as a Press Release by PRNewswire
