Dive Brief:
LVMH Luxury Ventures and L Oréal Bold have invested an undisclosed amount of Series A capital in Replika Software, a social commerce company, according to a Wednesday announcement.
The funding allows Replika to add more brands in various industries to its client lineup, invest in the company s technology, create new features and hire more employees to support its growth, according to the company.
In 2019, LVMH encountered the platform and selected it to be highlighted at the Vivatech Innovation Awards. Afterwards, LVMH invited the startup to participate in its accelerator, La Maison des Startups and the companies continued to develop a close relationship, per the press release.
Replika Software asegura una ronda de inversión de serie A de parte de LVMH Luxury Ventures y L Oréal BOLD Ventures para impulsar el futuro de las ventas sociales
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27 gennaio 2021 14:04
Fonte: Adnkronos
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NEW YORK, Jan. 27, 2021 /PRNewswire/ Replika Software, the turnkey social selling solution enabling brands to empower their networks of social sellers to inspire and sell online, has completed its Series A financing round with LVMH Luxury Ventures and L Oréal BOLD, both investment arms of their parent companies. The funding will enable Replika to aggressively expand its global footprint of brands and industries which can significantly benefit from creating new social selling channels. With this financing, the company plans to continue investing in its technology, introduce new breakthrough features and add to their team to support the rapid adoption of the platform. Representatives from LVMH Luxury Ventures and L Oréal BOLD (Business Opportunities for L Oréal Development) will be a part of Replika s Board of Directors.
Replika Software Secures Series A Financing from LVMH Luxury Ventures and L Oréal BOLD Ventures to Power the Future of Social Selling
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NEW YORK, Jan. 27, 2021 /PRNewswire/ Replika Software, the turnkey social selling solution enabling brands to empower their networks of social sellers to inspire and sell online, has completed its Series A financing round with LVMH Luxury Ventures and L Oréal BOLD, both investment arms of their parent companies. The funding will enable Replika to aggressively expand its global footprint of brands and industries which can significantly benefit from creating new social selling channels. With this financing, the company plans to continue investing in its technology, introduce new breakthrough features and add to their team to support the rapid adoption of the platform. Representatives from LVMH Luxury Ventures and L Oréal BOLD (Business Opportunities for L Oréal Development) will be a part of R
This month, the multinational beauty maker’s venture capital fund announced a minority investment in Replika Software, a tool that lets brands create a ‘retail partnership’ with any individual active on social or streaming platforms.
Kareen Mallet and Corey Gottlieb launched Replika Software in 2017 as a sort of commission solution for retail salespeople, brand ambassadors, and influencers all people who are passionate about product and actively speaking with consumers online.
Remarking on this month’s minority investment deal with the BOLD fund (Business Opportunities for L’Oréal Development), Mallet says,
“As an industry, we’re just scratching the surface of how powerful social commerce can be when it’s combined with the massive scale offered by the global online community.”
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