DIRECTSCALE CLOSES $8.5M SERIES B FUNDING ROUND TO FUEL CONTINUED GROWTH
The cloud-based software platform helps streamline the business of direct sellingRead More
Lindon, UT – (Marketwired, October 18, 2017) DirectScale, a cloud-based software platform purpose-built to serve the $250 billion direct and social selling industry, today announced the close of an $8.5 million Series B funding round led by Grotech Ventures with participation from Origin Ventures and existing investor, Kickstart Seed Fund. DirectScale will use the capital to expand sales, marketing and product development to continue their rapid growth.
“DirectScale is experiencing tremendous growth as they bring much needed technology to the massive direct selling market — a market that has traditionally been very poorly served from the standpoint of technology,” said Lawson DeVries, General Partner at Grotech Ventures. “With powerful software, a great team and the direct selling market enjoying impressive growth on the back of social media, DirectScale is in the right place at the right time. We’re excited to partner with them for their next phase of growth.”
As the only truly configurable, full-stack, SaaS (software-as-a-service) provider in the industry, DirectScale provides business leaders with the easy-to-use tools they need to effectively manage growth. The DirectScale platform focuses heavily on providing an intuitive user experience that works equally well on mobile or desktop and includes such things as communication solutions to keep teams connected, ecommerce tools to promote and drive new sales and enrollments, and actionable business reports to track commissions and KPIs.
DirectScale also offers clients a robust and comprehensive admin tool to configure and manage the back office portal for their sales force, ensuring the experience is appropriately custom-fit for every audience around the globe. And as a true SaaS platform, DirectScale offers clients the ability to extend functionality through third party integrations and customizations, meaning business needs and objectives won’t be limited by the platform. Additional features include prospecting tools for new customers and team members, the ability to train new members through training modules and resource libraries, and tools to help sellers manage their social media.
“DirectScale is meeting the unique challenges of direct and social sharing companies head on,” said Rodger Smith, CEO of DirectScale. “We’re providing a desperately needed SaaS solution for the rapidly growing peer-to-peer social commerce space. This investment keeps DirectScale on the path to market dominance.”
Direct and social selling is a massive $250 billion industry that has been underserved by technology and DirectScale’s intuitive and simple platform has been received with enthusiasm. DirectScale currently has more than 3 million active users and since launching their new management platform, has seen a 55% increase in new leads per month — a significant indication of the need for such a solution in an industry that employs more than 102 million people around the world.
As a result, DirectScale’s revenue is growing well in excess of 100% annually, and this new funding will assist the rapidly growing company in scaling and responding to the high demand for the platform. The increased capital will help solidify DirectScale as a leader in the direct selling solution industry.
“DirectScale’s software solution is the best we have seen,” said Brad Christensen, CTO of Modere. “Their commitment to staying on the cutting edge gives us confidence that we will never have to worry that a competitor will have a superior product.”
About DirectScale Based in Lindon, Utah, DirectScale is a software solution designed to seamlessly meet the needs of the direct and social sales industry. With a focus on intuitive user-experience, and a full suite of cloud-powered business management tools, they are committed to helping organizations drive and plan for growth. Their experience in software and marketing, from distributor to corporate, means they truly understand what it takes to succeed. To learn more, please visit www.directscale.com.
About Grotech Ventures Founded in 1984, Grotech Ventures (http://www.grotech.com) is a leading early investor in high-potential technology companies. With more than $1.5B under management, Grotech seeks innovative, early-stage IT companies and continues to invest and add value throughout the growth of its portfolio companies. The firm has a strong combination of industry relationships and deep domain and operational expertise to accelerate growth. General partners include Frank Adams, Chuck Cullen, Lawson DeVries, Steve Fredrick, Don Rainey and Joe Zell. The firm has offices in Virginia, Maryland and Colorado.
Codeword for DirectScale email@example.com (801) 623-7196Read Less
10/18/17Silicon Slopes: DirectScale Closes $8.5M Series B Round
Led by Grotech Ventures, participation from Kickstart Seed Fund and Origin Ventures.Read More
10/18/17Fortune Term Sheet: Wednesday, October 18
DirectScale, a Lindon, Utah-based cloud-based software platform, raised $8.5 million in Series B funding.
10/18/17Provo Daily Herald: DirectScale closes Series B funding
DirectScale, a cloud-based software platform in Lindon built to serve the $250 billion direct and social selling industry, announced the close of an $8.5 million Series B funding round led by Grotech Ventures with participation from Origin Ventures and existing investor, Kickstart Seed Fund.
9/19/17Newscenter.io: DirectScale Brings In $8.5 Million
According to a recent SEC filing, software startup DirectScale has raised $8.5 million in financing.Read More
DirectScale organizes effort to help those affected by Hurricane Harvey
Although we’re far away from the flood waters, our DirectScale family has many friends and associates that have been affected by Hurricane Harvey. And even though we’re a relatively small company, we wanted to do our part to help those in need. Over the last several days we put out a challenge to all employees to open their hearts (and their wallets) to bring in certain items to assemble hygiene kits and/or to donate money. To make things even better, if an employee donates to any charitable organization in support of Hurricane Harvey victims, the founders have pledged to match all donations.
It has been amazing and inspiring to see the amount of effort and support that everyone at DirectScale has been able to give! In just a short amount of time, we were able to:
Every little bit helps and we challenge everyone to help our friends and neighbors in the gulf (and on the east coast as Hurricane Irma approaches) in any way possible. Our prayers are with everyone in the affected areas and we hope they get back to normal as soon as possible! #Harvey Donate Now
DirectScale takes #3 in UVEF’s Kickstart Top 25 Under 5 Awards
The Utah Venture Entrepreneur Forum (UVEF) seeks to recognize the best emerging companies established by entrepreneurs in the state of Utah. The purpose of the event is to promote companies who may become leaders in their fields in the state, the region and globally.
UVEF recognized 25 leading companies in two categories; pre-revenue companies who have an outstanding business model that demonstrates scalability, and revenue companies who are leading in a combination of economic standards including revenue and employee base.
CEO Rodger Smith accepted the award on behalf of DirectScale.Read the press release See the full list of winners
DIRECTSCALE COMPLETES ACQUISITION AND INTEGRATION OF COMMISSIONS PLATFORM
Rounds Out Offering for Direct and Social Selling IndustryRead More
Lindon, UT – February 4, 2016 DirectScale, a cloud-based software platform built to serve the $200B direct and social selling industry, today announced it has completed the acquisition and integration of Pillars Intl, a best-in-class genealogy and commissions solution to round out its product offering. The integration of Pillars makes DirectScale the first company in the industry to offer fully integrated genealogy and commissions, distributor portal, back office, e-commerce, and NetSuite enterprise business automation capabilities in one optimal solution for direct selling companies of any size, from startup to billion dollar international enterprises.
DirectScale has historically provided client and distributor experience layers over the top of other genealogy and commission providers. With this acquisition, DirectScale consolidates the experience into one unified solution that gives clients everything they need. DirectScale’s premiere offering uses current technology and provides a feature set that exceeds the capabilities of competing genealogy and commissions offerings.
Our clients repeatedly tell us that they love the client experience we provide and would prefer to work with us as a single, full-service technology provider rather than having to deal with multiple vendors, said Rodger Smith, CEO of DirectScale.With the acquisition and integration of this technology, we offer the complete solution that the market is asking for and is ready to buy.
DirectScale is uniquely positioned to serve direct and social selling enterprises and to solve one of the most challenging issues they face scaling their technology. It’s a very exciting time for the entire industry, said Michael Lohner, DirectScale board member and Chairman of Stella & Dot.
Last year, DirectScale announced its partnership with the #1 cloud business management software provider, NetSuite, allowing DirectScale to deliver a complete solution for direct selling corporate operations, including ERP solutions and industry specific add ons (apps/configurations, built by DirectScale) for NetSuite’s industry leading cloud-based ERP platform.
For more information about DirectScale, visit www.directscale.com.
About DirectScale Based in Lindon, Utah, DirectScale is a software solution designed to seamlessly meet the needs of the direct and social selling industry. With a focus on intuitive user experience and a full suite of cloud-powered business management tools, we are committed to helping organizations drive and plan for growth. Our team’s real world corporate and distributor experience means we truly understand what it takes to succeed.Read Less
DIRECTSCALE LAUNCHES NEW PRODUCT, ANNOUNCES PARTNERSHIP AND RAISES $4M IN SERIES A FUNDING
DirectScale Joins NetSuite SuiteCloud Development Partner Program; New Platform Delivers a Tailored Solution to Historically Overlooked Direct and Social Sales IndustryRead More
October 22, 2015 (Lindon, UT) — DirectScale, a cloud-based software platform purpose-built to serve the $200B direct and social selling industry, today announced that it has raised $4M in Series A funding, led by Kickstart Seed Fund and NetSuite. Additionally, DirectScale announced the launch of a new business management platform designed to address the challenges of direct and social sales, and the partnership with NetSuite. DirectScale is undertaking huge initiatives to tackle market challenges around direct and social selling for today’s modern businesses that strive to transform traditional sales and grow business.
We are industry veterans who have been in direct sales for more than 15 years, and have had to watch our customers suffer through dated solutions to manage their businesses, said Rodger Smith, CEO and Co-Founder of DirectScale. We know a superior client experience with your software partner can make the difference in your ability to respond to market challenges. So we designed DirectScale to hit all the needs of today’s direct and social sales businesses, with cloud power to easily scale with their success.
DirectScale’s new product innovation brings unprecedented value to businesses DirectScale’s new business management platform is designed for and by salespeople to address the specific challenges of direct and social sales, to effectively transform and grow customers’ businesses. The company offers APIs for seamless integration into existing company systems and records. The new platform delivers a simple and elegant user experience, through a dashboard that manages sales, inventory, and teams, and provides support for transactions, genealogy, and commissions.
DirectScale features includes:
Series A Funding Secured $4M The Series A funding from Kickstart Seed Fund and NetSuite will be used for development of existing and new features. This round marks the first Utah-based investment for Netsuite.
DirectScale Partners with NetSuite In addition to the investment from NetSuite, DirectScale has also become a NetSuite SuiteCloud Developer Network Partner. The partnership will allow DirectScale to build its platform on top of NetSuite, leveraging the agile, and flexible SuiteCloud Development Platform. Additionally, DirectScales customers will have the opportunity to use NetSuites leading cloud business management suite to streamline their business processes from lead to cash, all while gaining the benefits of operational efficiency, reduced IT costs, and hassle free software upgrades.
The social selling market is ripe for disruption and ready for a cloud-based platform to manage business operations, said Jim McGeever, President and COO of NetSuite. A new application built on top of NetSuites platform, with the backing of DirectScale’s experienced management team, will provide businesses in the industry with the agile, scalable, easy to use solution they need to succeed.
The offering that DirectScale is delivering has enormous potential. eCommerce, commissions, and back-office functionality all tied into a common ERP for financials, supply chain management, and inventory management all on a global scale, said Ryan Bovermann, Vice President of Information Technology at Nerium. This could broaden the features and functionality we have already been developing in-house for two years.
For more information and specifics about DirectScale, or to get your demo today, please visit www.directscale.com.
Based in Lindon, Utah, DirectScale is a software solution designed to seamlessly meet the needs of the direct and social sales industry. With a focus on intuitive user experience, and a full suite of cloud-powered business management tools, we are committed to helping organizations drive and plan for growth. Our experience in software and marketing, from distributor to corporate, means we truly understand what it takes to succeed.
Knock Twice DirectScale@knock2x.comRead Less
10/28/15Provo’s Directscale launches product; Conservation funding available Daily Herald
DirectScale, a cloud-based software platform built to serve the $200 billion direct and social selling industry, announced that it has raised $4 million in Series A funding, led by Kickstart Seed Fund and NetSuite.Read More
10/27/15Term Sheet — Tuesday, October 27 Fortune
DirectScale, a Provo, Utah-based cloud software platform for the direct and social selling industry, has raised $4 million in Series A funding from Kickstart Seed Fund and NetSuite.Read More
10/27/15The Daily Startup: Sportradar Attracts Michael Jordan, Mark Cuban WSJ
DirectScale Inc., developer of a cloud-based software platform to serve the social-sales industry, has launched a new business platform with a $4 million Series A round. Provo, Utah-based DirectScale said the funding was provided by Kickstart Seed Fund and NetSuite Inc.Read More
10/27/15DirectScale Officially Launched, Announces $4M In Series A Funding Beehive Startups
So if you were to design a software-as-a-service solution specifically for the direct sales industry, choosing Utah as your home base would make complete sense, no? That’s what DirectScale has done, announcing both their Series A round and official launch today, fully prepared to show the world they have chosen wisely.Read More
10/27/15DirectScale picks up $4 mln Series A Thomson Reuters PE HUB
Utah-based DirectScale, a software provider for the direct and social sales industry, has raised $4 million in Series A funding. The investors were Kickstart Seed Fund and NetSuite.Read More
10/27/15DirectScale raises $4M, partners with NetSuite to offer direct sales software Silicon Slopes
DirectScale offers a suite of business management tools designed for direct and social selling, a $200 billion industry. The offerings include business dashboards and reports, eCommerce, communications, prospecting, training and social.Read More
10/27/15DirectScale Raises $4M in Series A Funding FINSMES
DirectScale, a Lindon, Utah-based provider of a software platform purpose-built to serve the direct and social selling industry, raised $4m in Series A funding. The round was led by Kickstart Seed Fund and strategic investor NetSuite.Read More
10/27/15DirectScale Scoops Up $4M For Social Selling Software techrockies
The company, led by Rodger Smith, develops a software platform specifically aimed at helping salespeople with social sales, providing a business dashboard e-commerce features, email, text, and messaging, and more. DirectScale said the funds will be used for development of existing and new features.Read More
10/27/15DirectScale Scoops Up $4M For Social Selling Software Utah Business
Lindon, Utah-based DirectScale, a developer of social selling software, said this morning that it has raised $4M in a Series A funding round. The funding was led by Kickstart Seed Fund and NetSuite.Read More
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