Tech analytics firm ‘reach | influence’ today announced $5 million of capital investment led by Rich Helppie’s Vineyard Capital Group and supported by Dan Gilbert’s Detroit Venture Partners (DVP), a Detroit-based venture capital firm that invests in seed and early-stage technology companies, and other local investors to facilitate the next phase of growth.
reach | influence, as a retail analytics company, brings together retailer intuition, manufacturer interest and empirical study of shopper behavior to create shopper marketing and retail merchandising programs. From digital coupons and shopper engagement programs to pricing analytics and assortments studies, reach | influence combines technology, analytics and a team of people in a shared service model. This new round of investment allows reach | influence to grow the client base and reinforce the underlying offerings to the benefit of the retail clients.
Vineyard Capital Group has provided capital to reach | influence since 2012 while guiding the company in its transition from a reward fulfillment company to its emergence as a leader in retail analytics for small and medium-sized retailers. Vineyard led and participated in this current round of financing.
“The executive team at reach | influence has done a terrific job in gaining hundreds of new locations and simultaneously establishing a new standard in analytics and integrated data services for the independent retailer,” said Richard Helppie, Vineyard Capital Group Managing Partner. “Along with management we are very pleased to welcome new investors to this fast-growing enterprise.”
Detroit Venture Partners will bring investment perspective and consumer-focused business experience that complements Vineyard Capital Group’s deep operational commitment to reach | influence.
“Being located in the Madison Block, downtown Detroit’s thriving technology hub, we are no stranger to high-quality, innovative tech companies,” said DVP founding partner Brian Hermelin. “We knew from the minute we connected with reach | influence that their unique approach to analytics would be a great addition to our portfolio, and we are excited to partner with them as they continue to grow.”
reach | influence’s CEO Eric Green called the investment a “huge win for the company,” and emphasized it is really all about the clients: “Onward. With this investment, the wind is in our sails and our course is charted: to bring the type of analytical solutions that national chains are afforded to the small and medium sized retailers. Our new Board of Directors has the industry breadth and technical depth to support the next phase of reach’s growth.”
reach | influence is a retail analytics firm focused on powering the shopper experience with the goal of leveraging shopper data to increase sales through a combination of marketing and merchandising programs. reach | influence provides services and insight to independent retailers, wholesalers and CPGs to help them measure marketing efficacy, engage their shoppers and provide a conduit to deliver digital offers. The company’s flagship products, reach | engage and reach | offers, provide shopper facing marketing tools for independent grocery stores in 33 states. To learn more, please visit http://www.reachinfluence.com.
About Vineyard Capital Group:
Vineyard Capital Group, headquarted in Bloomfield Hills, helps to grow companies through investment and advice. Vineyard specializes in fast-growth technology businesses, investing through its Vineyard Tenacity Opportunity Fund, Company-specific vehicles and in partnership with other private equity funds.
About Detroit Venture Partners:
Detroit Venture Partners is a venture capital firm that invests in seed and early-stage technology companies with a strong emphasis on Detroit-based startups. In addition to capital, the company provides hands-on coaching, mentorship, support, and resources to help drive growth and success. Founded in 2010 and led by Josh Linkner, Dan Gilbert, and Brian Hermelin, the firm aims to create jobs, urban density, and hope, by backing the next generation of Detroit entrepreneurs. To learn more, please visit http://www.detroitventurepartners.com.