Movista Inc., the leader in cloud-based labor and workforce management software for retailers, manufacturers and service providers, announced its $12 million Series A growth equity investment. Funds will be used to deliver new product features, enhance technology innovation, expand sales and marketing, bolster talent development and evaluate strategic opportunities. The investment, among the largest ever in an Arkansas-based software firm, is led by New York based Level Equity, a software focused growth specialist with $1.65-billion in assets under management.
Movista, who turned eight years old in May, pioneered the use of smart device applications for managing mobile workforces. Demand for smart device software in the workplace has more than doubled for three consecutive years, with Movistas recurring revenues up more than 300% since 2015. More than forty retail-focused enterprise clients leverage their smart platform to manage employees and contractors. Movista expects over 200,000 retail workers to be working on a daily basis, via their software, by 2020.
Our goal is to have one million daily users within five years, said CEO and Co-Founder, Stan Zylowski. We will leverage the capital from this investment to expand and augment our product set, build a best- in-class business development team and share our story nationally. April Seggebruch, COO and Co- Founder, further explained how having fresh capital changes dynamics inside the firm. For the first time since our inception as a bootstrapped business, we now have the freedom to push every technical limit and innovate dramatically. We have plans in place and within twelve months will be installing solutions that were unimaginable even a few years ago.
We have closely tracked the explosive growth of BYOD and dedicated smart device usage within the enterprise for years and proactively identified Movista early on as a leader in the space, said Ben Levin, Founder and Co-CEO of Level Equity, who has joined Movistas board of directors as part of the financing. Their history in the retail market, exceptional and capital efficient growth and passionate commitment to client success sets them apart. We share their vision for continuing to build a world class workforce and labor management software business for retailers, manufacturers and service providers.
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Based in Bentonville, AR, Movista is a provider of mobile-first, real-time, enterprise-grade technical solutions to the retail market. The company, founded in 2010, employs nearly sixty employees across six states and serves more than forty clients including retailers, manufacturers and service providers. To learn more about Movista, visit www.movista.com.
About Level Equity:
Based in New York, NY, Level Equity is a growth equity firm focused on providing capital to rapidly growing software and internet companies. The firm manages over $1.65 billion across a series of long term committed investment partnerships. For more information about Level Equity, visit www.levelequity.com.
Liz Slape, 479-283-7333
SVP of Growth