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The newly raised capital will help Theatro swiftly scale its offerings across retail, manufacturing, and hospitality and other markets that have huge hourly workforces
Fremont, CA: Theatro, the rapidly-growing enterprise mobile voice platform in the market, today announced it has secured a $20 million Series C investment. The funding was led by Sageview Capital, a growth capital firm focused on investing in primary tech-enabled businesses. Recently Theatro had raised $15 million Series B-1 this year that included strategic investments by Cisco Investments and Honeywell Ventures.
The newly raised capital will help Theatro swiftly scale its offerings across retail, manufacturing, and hospitality and other markets that have huge hourly workforces. Sageview Capital partner Dean Nelson will join the Theatro Board of Directors with this investment.
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With Theatro's voice-driven virtual assistant, the frontline employees get "heads-up and hands-free" mobile access to their leadership teams, enterprise systems, and each other. TheSaaS solution makes the use of speech technology, mobile apps, and free IoT devices to assist employees in operating more efficiently and remaining focused on customers. This helps companies to create personalized customer experiences and drive employee productivity while increasing sales, operational profitability, and conversion rates.
"Given Theatro's strong momentum and unique, proven ability to empower hourly employees, we're enthusiastic about the opportunity to be part of their future growth," said Nelson. "We have been impressed with the impact that Theatro's solutions have made in the retail market, and we believe that their strong value proposition will be well received across a broad range of geographies and markets."
This Series C expansion round follows significant developments from Theatro throughout 2019. Theatro has nearly tripled the number of stores set up since 2018, including a major rollout with Walgreens and its first gaming customer, Coyote Valley Casino. With the addition of French and Spanish language support to meet the needs of global clients and the addition of strategic partners, including Intel, Cisco, Honeywell, and Microsoft, Theatro has established an entire ecosystem necessary for rapid and constant growth.
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