Paris/London, April 11th 2019 ─ ReachFive, the SaaS Customer Identity and Access Management platform (“CIAM”), announced it has closed a $10 million Series A funding round led by CapHorn Invest, with participation from Dawn Capital and Ventech. This new round orchestrated by the investment bank Avolta Partners, will fuel product innovation, customer growth and global expansion.
This capital injection confirms the momentum of ReachFive, and follows a stellar year of growth, in which the company saw its recurring revenue more than triple. ReachFive simplifies the consumer authentication process, providing a secure and unified 360-degree view of the customers to the brands, while also significantly improving the end user experience. The start-up has established strong relationships with leading players across a variety of sectors, including the likes of BUT, Boulanger, Etam Group, L'Occitane, Hachette Group, The Compagnie des Alpes, ENGIE, Micromania-Zing, and La Redoute, many of which have committed to multi-year partnerships.
“This round recognises the value we bring to enterprise in retail and beyond. The market represents a major opportunity and we are thrilled about the next chapter. We will significantly accelerate our business in France, and continue our push across Europe. Our clients already use ReachFive to connect their customers across 55 countries using our native cloud platform, uniquely available across any cloud providers, including AWS, Google, Microsoft Azure, OVH, and Alibaba amongst others. With fresh financing to boot, we are now ready to conquer new heights,” said Jérémy Dallois, CEO & Founder of ReachFive.
With its Identity-as-a-Service platform, ReachFive can gather and manage all types of consumer information directly from the customer touchpoints, whether online or offline, instead of through complex legacy systems, unable to distribute, share and protect unique consumer profiles across the organisation. Providing a unified customer identity is a key enabler in any company seeking digital transformation. ReachFive is integrated at the core of enterprise relationship with their end users, helping them boost sales and marketing and optimise customer service initiatives. ReachFive results speak for themselves ─ having spent years in research and development phase to deliver its modern CIAM platform, the business now manages over 40 million customer connections from its platform.
“Our mission is to help companies drive a superior brand experience by relying on a reliable foundation of verified consumer identities. I founded ReachFive having seen the limits of legacy systems in unlocking customer knowledge and ultimately delivering the holy grail of a truly omnichannel customer journey,” added Jérémy Dallois.
Caphorn Invest, Ventech and Dawn Capital are excited to be partnering with ReachFive in their ambition to become the global leader of consumer identity. To achieve this, ReachFive will use the funds to establish new operations across Europe and to continue heavy investment in R&D to stay ahead of the competition.
“The consumer identity management market is reaching an ideal maturity to be positioned, which has been confirmed to the level of commercial traction and the rave feedback from ReachFive clients. The start-up will benefit from the power of CapHorn network to accelerate its development, in France and internationally,” added Alexandre Pelletier, Director at CapHorn Invest.
Evgenia Plotnikova, Principal at Dawn Capital, added: “Most enterprises selling to consumers fail to authenticate their users in a frictionless way and when they do succeed, the data they collect sits in silos across the organisation. Under GDPR, collection of data introduces yet another challenge of consent management. ReachFive solves all of these pain points ─ it is a secure system of record for consumer identity, an organisation-wide single source of truth that is easy to use for enterprise and end-user alike. It is no wonder that the platform has fast become an essential part of the operations of some of Europe’s leading brands. Our investment in ReachFive perfectly fits our strategy of investing in companies at the forefront of European technology, and we look forward to working with such a strong team to help accelerate their growth even further.”
Jean Bourcereau, President of Ventech VC, added: “Omnichannel is at last becoming a reality, and for retailers with several online properties, multi-brands can finally cross-sell. ReachFive is absolutely integral to mitigate the challenges created by this evolution, and Ventech’s global reach and local expertise will help scale the platform internationally.”
Based in Paris and Lille, CapHorn Invest is a French independent Venture Capital Firm, investing in European B2B digital companies. CapHorn Invest currently manages 180 million euros and has a portfolio of over 30 companies, including Adents, BirdOffice, Critizr, Dreamquark, Finalcad, Ledger, InterCloud, Revers.io, Saagie, Scality, Vekia, Wizbii, and more. Our team relies on its strong network of 250 experienced business leaders (LPs in the funds) to boost our portfolio companies and provide them with direct commercial connections to decision makers. CapHorn Invest is a management fund approved by the AMF. For more information, please visit https://www.caphorninvest.com/
Ventech, Europe’s leading pan-European venture capital firm, invests in high-growth European startups with activities in the digital economy (Enterprise Software, Deep Technology, Marketplaces, Media) through its local offices in Paris, Munich and Helsinki. In China, Ventech’s Shanghai-based team manages a dedicated regional fund to invest across Asia and offer scaling and internationalisation support in Asia for its European portfolio companies. With more than 900M€ raised since 1998, Ventech has invested in over 150 companies in Europe, China, Russia and in the US. Key active and past investments include successful high growth companies such as Believe, Curse (acquired by Amazon), Freespee, Ogury, Picanova, Speexx, StickyADS.tv (acquired by Comcast), Botify, Webedia,, Vestiaire Collective and Withings (acquired by Nokia). For more information, www.ventechvc.com
Dawn Capital (“Dawn”) is the largest VC fund dedicated to B2B software and B2B fintech start-ups ups across Europe. Dawn invests from Series A onwards, backing companies that develop world leading offerings with unbeatable economics. Currently investing out of its third fund of $235 million, Dawn offers ambitious founders operational and financial support to deliver exceptional value growth. Dawn’s portfolio companies include Mimecast (NASDAQ: MIME with $2.5BN market cap), iZettle (sold to PayPal for $2.2BN cash), Collibra, Showpad, Automile, Dataiku and Neo Technology, with many others looking to join their rank. More about Dawn Capital: www.dawncapital.com