Traditional point-of-sale systems (POS) are another kind of POS, and today yet another startup received venture capital funding to improve them.
Erply provides POS system and inventory management software for commercial retail and e-commerce businesses. Today the company announced raising $2.15 million in its second round of funding, according to a report in TechCrunch.
The iPad app and cloud-based platform provide a centralized place to manage multiple areas of a retail business, including POS, inventory, payroll, accounting, and multi channel e-commerce in an integrated system. Businesses can easily add new locations into the system and the retail CRM feature tracks customers and captures their data. There are also sales and marketing campaign tools.
Erply can handle data across physical shops, online stores and warehouses, and provides real-time dashboards of activity. The software is integrated with other platforms including accounting programs like QuickBooks and web-shops like Magento, Amazon, eBay, and Google.
Old school POS systems are difficult to manage, not connected to the Internet and expensive, not to mention cumbersome. Retailers used to deal with printers, cash registers, barcode, scanners, physical receipts, inventory software etc… and none of these systems were connected.
Over the past few years, a crop of startups has given the POS industry a mobile, cloud-based overhaul. The most well-known of these startups is Square which pioneered a small piece of hardware known as a dongle that is accompanied by a suite of software called Square Register. However retailers that have existing POS systems may not want to throw them out the window, and Erply’s technology helps them bring together the convenience and connectedness of cloud-based systems, with all the features and support they need.
The company has 100,000 small to medium business (SMB) customers and 120,000 users, and its client base is growing by around 20 percent each month. Customers include Elizabeth Arden, BMW and The Athlete’s Foot and the company is making a push to support Fortune 500 companies and gain traction in the enterprise space.
Erply has offices in New York, London, Australia, Denmark, and Tallinn, Estonia. Previous investor Redpoint Ventures led this round of financing to fuel growth and international expansion, and take on bigger players like Square and PayPal, other startups like GoPago and Vend. Index Ventures and Dave McClure also participated in this round.
It has raised $2 million in 2010 and this brings its total capital raises to $4.2 million.
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