NEW YORK — Reachify, a provider of data for sellers and buyers of enterprise software, has closed a $1.5 million round of funding led by Forerunner Ventures, with participation from NEA, Female Founders Fund, Beanstalk Ventures and Commerce Ventures.
The funding will allow Reachify to expand its reach in the retail sector, while building traction in new categories including travel, insurance, banking, automotive and consumer packaged goods.
“There is an abundant amount of data that buyers and sellers of enterprise software need in order to make intelligent decisions,” said Cindy Lincks, CEO and Founder of Reachify. “However, until now, this data has never been collected or made available in a useful format. We’ve solved this problem and we are very pleased that such thoughtful and prominent investors backed our team to transform the $620 billion enterprise software market.”
The number of sellers, buyers and available products in the enterprise software market is growing at a rapid pace across all industries. The growing complexity means there is no single reliable source for sellers or buyers to gather product, market and competitive information. Reachify has solved this problem and provides the first comprehensive source of the right data and insights, which enables both sellers and buyers of enterprise software to make more informed decisions.
“Every industry is struggling to keep up with the pace of change that technology is driving in their businesses. Retailers and brands are no exception. What stood out about Reachify is the simplicity of the platform and the efficiency with which they are able to bridge the disconnect between buyers of software up and down the stack who are overwhelmed by lack of organized information and the overload of options, with software vendors who are looking to find the right customers for their solutions. Reachify will no doubt become a mission critical resource for software buyers and sellers, and we are thrilled to partner with the team as they tackle this mounting challenge in the market,” said Eurie Kim of Forerunner Ventures. “We invest in innovative companies that can change entire industries and show exceptional opportunity for growth, and we found that in Reachify,” said Amit Mukherjee of NEA. “Reachify’s ability to cut through the noise and streamline both vendor selection and the sales process solves a large and critical problem for a very large industry.”
Reachify has offices at 450 Lexington Ave. in New York.