Elevate Secures $500k to Fuel Growth
Funds will be used to expand sales and digital marketing efforts worldwide.
ST. PAUL, Minn. - July 23, 2014 - PRLog -- Elevate Research, Inc. announced today that it has secured $500k in seed capital. The oversubscribed round was led by Confluence Capital and Icon Venture Partners, with participation from local angel investors.
Elevate is the easiest and most affordable way for restaurants and retailers to survey customers who recently dined in one of their restaurants or shopped in one of their stores. It allows all sizes of restaurants and retailers to:
-- Get immediate feedback from real customers;
-- Follow up with upset customers to get them to come back; and
-- Have better conversations about performance.
“We set out to create a customer feedback platform so easy to setup that you could do it yourself and so lean that you could try it for free,” said Joe Stanton, Co-founder and CEO. “Plus, it had to be tailored to the specific needs of restaurant and retail operators. These were things that were unheard of in this space. But I’m happy to say that we accomplished all three with Elevate."
Elevate plans to use the majority of the funds to fuel the expansion of its sales and digital marketing efforts worldwide. “We offer more than just a software platform to our clients,” Stanton continued. “We create exclusive content based on our years of experience working with industry leading brands, and deliver it through the platform at the right time to help create meaningful change. We are about performance improvement.”
Elevate will also use a portion of the funds to continue to integrate with other software platforms (e.g., mobile payments, reservation systems, online shopping carts, etc.) that make sense for their clients. “Everything we do at Elevate is about creating more value for our clients,” said John Cohoon, Co-founder and CTO. “But it always starts with simplicity and ease of use. Always.”
Elevate also plans to make the platform available to hotel operators this fall.
With this investment, Ryan Broshar from Confluence Capital and Jeff Hinck from Icon Venture Partners will be joining Elevate’s Board of Directors.
“Joe and John have both spent the majority of their careers helping restaurants and retailers listen to customers,” commented Ryan Broshar. “But they got tired of continually turning away small businesses for their over-staffed, over-priced services.”
Jeff Hinck added, “Elevate is the first pure customer feedback SaaS product created specifically for restaurants and retailers. It’s great because operators can set it up and start seeing the responses on the same day, at a price point that anyone can afford.”
“The funny thing is that we created Elevate for smaller restaurants and retailers,” continued Stanton. “There was no easy and affordable option for them. But what we’ve found is that larger organizations are drawn towards Elevate too. Easy to use and affordable are universal themes that are embraced by all types and sizes. And we are excited to have both the capital and partners now to bring it to the masses.”
Elevate is the easy and affordable way to survey your customers after they dine in your restaurants or shop in your stores. Founded in 2014, Elevate is based in St. Paul, MN and was recently announced as a semi-finalist for the MN Cup competition. For more information, please visit www.elevateresearch.net or follow Elevate on Twitter @ElevateResearch.