- Repeat aims to make consumer packaged goods (CPG) customers more loyal by sending personalized reminders.
- The company raised $1.5 million in seed funding from Harlem Capital, Techstars and Mucker Capital.
- The two co-founders met at a Venice startup and were planning to get married in April until COVID-19 happened.
The good news for ecommerce companies is that the pandemic has driven U.S. consumers online. Up to half say they buy household supplies with a click, according to McKinsey & Company, but 70% of buyers never return to a brand for another purchase.
Repeat, formerly known as PRZM, aims to change that and make customers more loyal by figuring out their unique consumption habits. The company uses the data to remind shoppers with email nudges, it is time to restock. "Hi Anna. Are you ready for another face wash?" reads one such reminder. When customers go back to the site the items they "need" will be waiting for them in their cart.
Outer, the direct-to-consumer outdoor furniture brand that uses backyards as showrooms, raised $4.3 million in a seed round led by Mucker Capital. The two-year-old Santa Monica based company has seen business boom during the pandemic as retail stores shut down and online orders surged. Suburbanites looking for a stay-cation plucked up their eco-friendly sectionals as consumers spent more time at home.
"We went from tens of thousands of dollars in monthly revenue to millions of dollars in monthly revenue," said co-founder Jiake Liu. "In April we hit profitability."
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Coronavirus Updates: Trump Jumps Into Musk Tweetstorm; L.A. May Extend Lockdown Until August; UpKeep's $36M Raise
Here are the latest headlines regarding how the novel coronavirus is impacting the Los Angeles startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for the latest updates.
- Now Trump weighs in on Elon Musk's defiant move to open a Tesla plant early
- Los Angeles may extend shelter-in-place directives until August, says county health official
- UpKeep raises $36 million Series B as maintenance services startup in demand amid COVID
UpKeep raises $36 million Series B as maintenance services startup in demand amid COVID<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzI3MzY0OS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYzNzY2MDM1MX0.QEuZGTPO-hQeDjY0DE8YJ2Kej7fFdACnErWzvCpLvOw/image.jpg?width=980" id="8d2c5" class="rm-shortcode" data-rm-shortcode-id="8c29b58d478d9ef13655e213ffae8a90" data-rm-shortcode-name="rebelmouse-image" />
Ryan Chan, UpKeep founder and CEO, says the pandemic has only made UpKeep more attractive as companies put a greater emphasis on cleaning and maintenance.<p><a href="https://www.onupkeep.com/" target="_blank">UpKeep</a>, a mobile platform that helps companies streamline maintenance requests, announced Tuesday it has raised $36 million in Series B funding. Though it is a difficult time for many companies to fundraise, Ryan Chan, UpKeep founder and CEO, says the pandemic has only made UpKeep more attractive as companies put a greater emphasis on cleaning and maintenance. "I feel fortunate that we are in a space that is growing because of this," Chan told dot.LA. "We were able to raise at very favorable terms, but for a lot of companies it's very difficult to raise right now."</p><p>Chan certainly does not want to be seen as gloating. "We got lucky, but through no fault of our own," he added. Though UpKeep is a Los Angeles company, it turned to New York-based Insight Capital to lead the round. Existing investors Emergence Capital, Battery Ventures, Y Combinator, Mucker Capital, and Fundersclub also participated.</p><p>"COVID-19 is bringing the importance of maintenance into the spotlight, underscoring UpKeep's mission," Deven Parekh, Managing Director at Insight Partners, said in a statement. Upkeep says it saw 206% revenue growth last year and has signed with notable brands including Unilever, Siemens, DHL, Thermo Fisher Scientific, McDonald's and Jet.com.</p>
Los Angeles may extend shelter-in-place directives until August, says county health official<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzI3MzYzOS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY1MTE2MDQ3OH0.8SsIb7kUNYHLhSGzsxUiRBMEQd75L0Gnl8bsMRbBJSs/image.png?width=980" id="0fa20" class="rm-shortcode" data-rm-shortcode-id="b03901f7608a01aea8d5d0f02c3d6392" data-rm-shortcode-name="rebelmouse-image" />
Now Trump weighs in on Elon Musk's defiant move to open a Tesla plant early<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzI3MzMyNC9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYxOTAxOTQ4OX0.KNXEiNukPzNReeVRUf3Ntd-lhTsix_CuVd33Qy4W6gM/image.jpg?width=980" id="b2b27" class="rm-shortcode" data-rm-shortcode-id="79f2d38d535393cc507416f82c953e35" data-rm-shortcode-name="rebelmouse-image" />
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