QuoteMachine announces US $3.7M additional seed financing

CPE News

CPE News (10.17.2023) – QuoteMachine has officially announced the closing of $3.7 million in additional seed funding led by Manresa Ventures with participation from Clocktower Technology Ventures and Precursor Ventures.

Jackson Gates, managing partner at Manresa Ventures, has joined QuoteMachine board of directors along the two founders.

Founded by Jean-Denis Rocheteau and Jonathan Muschalle, QuoteMachine is a provider of sales software solutions. Its sales software enables retailers to deliver customized sales experiences to their customers through efficient quoting, ordering, invoicing and payment services.

In 2021, QuoteMachine raised $1 million in seed funding led by Telegraph Hill Capital (THCAP) with participation of Maple Leaf Angels’ fund MLA48 III, Real Ventures, and other private investors.

photo credit: QuoteMachine

News Release

QuoteMachine Closes $3.7M Seed Funding Round to Accelerate High-Value Sales for Retailers

Manresa Ventures led the round, with additional investment from Clocktower Technology Ventures and Precursor Ventures
While traditional processes are manual and dated, QuoteMachine empowers salespeople to deliver more personalized, intricate customer experiences while also offering a frictionless in-house payment solution
In the last six months, QuoteMachine’s team size has more than doubled, and the company has handled $40 million in gross merchandise value on a monthly basis

October 17, 2023 08:00 AM Eastern Daylight Time

MONTREAL–(BUSINESS WIRE)–QuoteMachine, a leading retail software platform empowering retailers to scale their big-ticket sales and tailored sales experiences involving human interactions, today announced the closing of $3.7 million in seed funding led by Manresa Ventures with additional investments from Clocktower Technology Ventures and Precursor Ventures.

QuoteMachine — which has now raised $4.6 million USD to date — intends to use the new capital to launch new payment solutions, offer new inventory management capabilities to better empower salespeople and grow its go-to-market teams.

Selling big-ticket items has traditionally been handled by dated softwares or manual paper processes. It is a complex process that requires expertise from the seller to understand the customer’s needs. Through QuoteMachine’s unique concept of transactional microsites, the company turns any conversation in-store or online into a sale, delivering a seamless customer experience that has been proven to increase revenue in both B2C and B2B environments regardless of the complexity of a merchant’s products, services or workflow. At present, 70% of QuoteMachine’s merchants are in the United States.

Creating a New Standard of Excellence in Customer Experience at Scale

“Our goal is to emerge as the main sales software powering SMB commerce that places the human touch at the heart of their sales experience,” said JD Rocheteau, CEO of QuoteMachine. “SMB retailers are uniquely positioned to fulfill their customer’s desire for personalization. Our team understands this and will empower retailers to deliver a new standard of excellence in customer experience at scale.”

With QuoteMachine, retailers can leverage a range of payment options to oversee big-ticket sales, enabling procurement and inventory management solutions that empower salespeople to deliver more personalized, intricate customer experiences via an in-house payment solution. Traditionally, payments are taken in person or even over the phone, but with QuoteMachine, customers can make an initial deposit online via the microsite, and subsequent installments are then captured by the merchant without requiring the customer’s presence.

Personalization at the Heart of Post-COVID Buyer Experience

As buyers and retailers alike look to the future of e-commerce and customer experience, reports have indicated that customers have come to expect personalization and are frustrated when that experience is lacking. Especially in a market where customer expertise, passion and local familiarity are paramount, QuoteMachine enables retailers to thrive as they foster enjoyable and successful communities.

In the last six months, QuoteMachine’s team size has more than doubled, and the company has handled $40 million in gross merchandise value on a monthly basis. Roughly 60% of the sales conversations supported by QuoteMachine are turned into sales either in-store or online. The company offers integrations on both Shopify or Lightspeed Commerce’s marketplace and is also part of the Intuit Developer Platform, where millions of QuickBooks Online users go to find, try and buy apps that meet their needs.

Investor Perspectives on QuoteMachine’s Seed Funding Round

“QuoteMachine provides the best-in-class payment solution for online and offline retailers who rely on high-touch, personalized sales for categories such as home & design, pools & spas and high-end furniture,” said Jackson Gates, managing partner at Manresa Ventures. “Historically, these retailers needed to take card payments over the phone, process unnecessary paperwork and reconcile multiple payments across their systems. The founders at QuoteMachine have an extensive background building sophisticated payments systems, and they saw an opportunity to remove friction and increase efficiency in an untouched $5B market. We are thrilled to be investing in them and the company.”

“We are thrilled to be part of QuoteMachine’s funding round as the company seeks to empower sophisticated SMB commerce experiences,” said Ben Savage, a partner at Clocktower Technology Ventures. “The company’s payment and checkout experience especially highlights the software’s fintech play as it streamlines financial services to deliver value for merchants rather than creating friction in the sales process.”

For more information about QuoteMachine, please visit http://quotemachine.com/.

About QuoteMachine

QuoteMachine is a leading provider of sales software solutions. Its sales software enables retailers worldwide to deliver customized sales experiences to their customers through efficient quoting, ordering, invoicing and payment services. Regardless of the complexity of a merchant’s products, services or workflow, QuoteMachine ensures a seamless and delightful customer experience resulting in proven growth in both B2B and B2C settings. The company is funded by investors including Manresa Ventures, Clocktower Technology Ventures and Precursor Ventures.
Contacts

Treble
Monique Beals
quotemachine@treblepr.com