Toronto, Canada, October 24, 2015 --(PR.com
)-- Red Peach, the leading inventory control and multichannel selling solution, today announced that it has closed $10 million in Seed financing. The investment was led by Quest Ventures LP. This brings the company's total funding to $15 million. Red Peach will use the funds to further accelerate the company's commitment to automate commerce for brands and continue to expand its solution to larger retail businesses.
Consumer shopping behavior is changing, and retailers are now forced to expand to additional channels, add new processes and sophistication in order to grow their businesses. This evolution has created more complexities for retailers, resulting in a need for a multichannel solution that automates their backend procedures.
"Our vision is to become the single source of truth for all commerce businesses of every shape and size," said Luke Fillion, CEO of Red Peach Inc. "This round of funding allows us to continue expanding our product to achieve that goal and gives us the ability to grow a team who shares our passion around this vision. We've made it this far so quickly because of the tenacity our company has fostered, and that focus will continue as we grow."
Red Peach has tripled its revenue over the past month and continues to power companies and brands on the forefront of commerce and technology, such as GoProd and Sonos. With sales speaking for themselves, the company processes nearly 1 million new orders each month, equating to $1B in annual GMV.
"Red Peach's rapid growth and product vision positions the company to lead the next phase in the evolution of commerce," said Mark Parent, co-founding partner and president at Quest Ventures. "With this Seed Funding, RPG is poised to continue to evolve its products to further commerce automation and scale its technology to service larger customers."
Red Peach has nearly doubled its employees over the past month, and the company plans to add an additional 50 new hires in the next two months. These expanding teams are being led by exceptional leaders and talent including vice presidents of marketing, sales, finance and platform. Jason Lam, the new vice president of marketing, is an analytical marketer and team leader with 12 years of experience in developing, managing and executing online marketing programs. Julie Arsenault, the new vice president of sales, comes from a long career with Best Buy, using his creative and strategic thinking to mold winning sales teams. Finally, co-founder Alain Beausoleil has been named vice president of platform, where he will be responsible for growing the customer base through strategic partnerships and product enhancements.
For more information about Red Peach, its product and its career opportunities, please visit RedPeach.ca.www.redpeach.ca