At age 25 Jake Bolling owned his first company: the red gasoline cans synonymous with taxi driver trunks and horror movie wrong turns. He’s still involved in the gas station business, but with a bit more technical grounding. Today, as the cofounder of Skupos, his company provides the insight loop between CPG (consumer packaged goods) companies, gas and convenience retailers and distribution companies.
Today, Skupos announced a $26 million series B round led by Insight Partners, Toba Capital, Dynamo Ventures, Unilever Ventures and Tao Capital, bringing their total funding to $37 million. Currently 7,000 U.S. retailers use Skupos technology. With the new funding they’re hoping to grow that number to 40,000 stores in 50 states by the end of 2020, which should not be difficult if they continue to grow at their current rate of 15% per month. It doesn’t hurt that half the U.S. population visits convenience stores, largely gas stations, on a daily basis.Read More