DENVER/PRNewswire/ — GoSpotCheck, the SaaS-based field execution management platform, today announced it has closed $16.5 million in Series B funding led by Insight Venture Partners, with participation from existing investors including Point Nine Capital.
GoSpotCheck has raised $26 million in total funding and has experienced more than 100% in revenue growth since their Series A in August of 2015. "We're seeing more validation in the market than ever before. SaaS-based solutions have proved critical for brands and merchandisers in all industries looking to get ahead with real-time insights and intelligence into the field or even into their own stores," GoSpotCheck CEO Matt Talbot said. "Our funding will help us stay ahead as the leading field execution management platform, and Denver's Best Place to Work, as awarded by the Denver Business Journal in May of 2016."
The round comes on the heels of enormous expansion for the Denver-based company, which has grown 500% in headcount in the last two years and increased revenue by 1000% over the same period. The funding will go towards office space, as GoSpotCheck recently commissioned a new, 16,000 square foot building directly next to its current headquarters. By the close of 2016, the growing business expects to have more than 100 employees, nearly double where they were in December of 2015.
"In addition to increasing headcount and expanding office space the funding will be allocated to the product, generating robust and comprehensive tools within the app," Talbot said. "As the market matures we're finding new and unique features that will help GoSpotCheck customers stay ahead. In order to do so, we'll be building out our product and engineering team, as well as our customer success, marketing and solutions teams to ensure and maintain consistency and dedication to new and current customers."
"We are pleased to partner with GoSpotCheck as they continue to grow their mobile data collection platform, giving enterprises the tools they need to drive meaningful results. Mobile-first workflow software within the enterprise, typically replacing and streamlining previously manual processes, is a theme that will continue to be an important software trend." said Harley Miller, Vice President at Insight Venture Partners.
GoSpotCheck is a powerful web and mobile software solution that, unlike other field execution management products, uniquely focuses on a user-friendly, mobile app to collect field and store intelligence. This empowers managers to make more strategic, data-driven decisions in real time, increasing ROI and driving performance.
GoSpotCheck is for enterprises who need real-time data and intelligence from the field in order to make quicker and better business decisions. These enterprises want a solution for their field teams that's configurable to their use case with the flexibility to analyze survey data. GoSpotCheck is a powerful web and mobile software solution that, unlike other field execution management products, uniquely focuses on a user-friendly, mobile app to collect field intelligence. This empowers managers to make more strategic, data-driven decisions in real time.
About Insight Venture Partners
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than$13 billion and invested in more than 250 companies worldwide. Our mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit https://www.insightpartners.com or follow us on Twitter: @insightpartners.