Erply builds iPad-compatible, cloud-based point-of-sale and inventory management software for brick-and-mortar retailers. The company serves 115,000 stores and manages 45 million SKUs on its platform. Erply has a staff of 45 and is profitable, which influenced its decision to take a smaller raise. Product roadmap includes an iPad-compatible RFID, NFC, and Bluetooth-enabled hardware device to manage inventory slated to debut later in the year. The company is ramping enterprise sales efforts to target larger retail chains and Fortune 500 customers with more than 200 store locations. Erply also signed a lease for a new sales floor in New York City and plans to double its staff in the months ahead. Erply builds business-management software that handles inventory control, bookkeeping and other tasks for brick-and-mortar and online operations. The company targets small businesses with lower-cost packages as an alternative to larger providers like SAP, Microsoft and Oracle. It offers a mix of free and paid packages, with a 25% conversion rate to paid plans and an average subscription fee of $74 per month. Erply reports roughly 2,000 business customers and 8,000 users/seats, and its client base is growing about 20% each month. The company is already profitable. Management plans to spend the majority of the new funding on marketing and expanding the team in Eastern Europe and is preparing an iPad app for real-time inventory management.

Total raised

$4M

Funding rounds

2

Latest round

Series B

Latest activity

May 2013