Montreal, February 9, 2023 - ENDVR, the leading digital incentives and training platform, that enables brands and retailers to directly engage, incentivize and train frontline store employees, today announced it has raised $6 million in Seed funding, led by Companyon Ventures, with participation from Leadout Capital, Business Development Bank of Canada (BDC) and TBD Angels.
The new capital will be used to accelerate ENDVR's market expansion, growing their sales, marketing, development and operations teams, moving ENDVR one step closer to being the essential platform used by brands to acquire customers at brick-and-mortar retail stores.
"The retail landscape continues to evolve, and with the combination of consumers returning to stores in person, digital advertising costs rising and conversion rates decreasing, it's become harder for brands to acquire customers online." says Steve Gendron, Co-Founder, and CEO.
"With over 85% of retail sales in 2022 occurring at brick-and-mortar stores, ENDVR and our brand partners firmly believe in the power of physical retail."
Launched in Fall 2020, ENDVR has since signed over 150 brand partners, helping them generate $140 million in retail sales across thousands of retailers in the ENDVR network, distributing over $3 million in cash, 125,000 product rewards and prizes directly to frontline retail sales employees.
"With Companyon's support, we're on a mission to be the reason forward-thinking brands, retailers and their employees thrive, by making it easy for them to empower & reward frontline sales associates with instant cash, product & prizes for delivering extraordinary experiences. In doing so, we're helping brands acquire customers, helping retailers retain great employees, all while driving sales at their physical retail locations."
The platform is quickly becoming essential for brands' customer acquisition at physical retail stores.
"ENDVR has proven to be an indispensable tool in arming retail staff with the knowledge and incentivization to drive our brands and products into the marketplace. ENDVR has become integral to our sell-through strategy in North America in the last two seasons."
- Nick Castagnoli, Brand Marketing Director, Group Rossignol North America
"Providing brands direct access to retail sales reps through a mobile app opens up all kinds of possibilities for driving product knowledge and creative sales incentives," says Firas Raouf, Co-Founder of Companyon Ventures. "The opportunity for ENDVR in physical retail coupled with ENDVR's CEO, Steve's deep expertise in retail distribution, made this investment an easy decision."
ABOUT ENDVR
ENDVR is the leading digital platform for brands to motivate, educate and compensate frontline retail sales associates at the retailers that sell their products. Allowing brands and retailers to build a direct line of communication with frontline employees selling their products. ENDVR helps businesses incentivize and empower frontline employees to drive sales and provide unparalleled insight into how they can continually improve their products and service.
ABOUT Companyon Ventures
Companyon Ventures funds B2B startups to an outsized Series A and their first $10M in ARR through an immersive expansion program building repeatable & scalable GTM execution.
ABOUT Leadout Capital
Leadout Capital is an early stage venture capital firm focused on backing founders with customer segment expertise building purpose-driven companies in large end-markets.
