Replika Software, the turnkey social selling solution that enables brands to empower their social seller networks to inspire and sell online, has completed its serial investment round A with LVMH Luxury Ventures and L ‘Oréal BOLD, both investment arms of its parent companies.
The financing will allow Replika to aggressively expand its global presence of brands and industries that can significantly benefit from the creation of new social sales channels, the statement said.
With this funding, the company plans to continue investing in its technology, introduce innovative new features, and expand its team to support rapid adoption of the platform.
Commenting on the startup journey, Kareen Mallet , Co-Founder of Replika Software, said: “When we founded Replika, we envisioned a future where every brand could benefit from the power of social selling. After entering into business deals with several LVMH Maisons and L’Oréal brands, it is Hugely satisfying to see that the investment arms of two of the world’s most progressive companies have decided to invest in our vision. We are delighted to have your support as we enter this phase of growth and steer the industry toward the humanization of online shopping. “.
Replika’s relationship with LVMH began in 2019 when the group discovered and selected the solution to be featured in the Vivatech Innovation Awards. The company was invited to participate in LVMH’s accelerator, “La Maison des Startups”, at Station F and their business relationship has continued to expand since then, with deployments in both Europe and the United States.
The journey with L’Oréal began when its chief digital officer, Lubomira Rochet, a true advocate of social commerce, identified Replika from among the more than 1,000 startups featured at Vivatech and has continued to pave the way within the organization for the implementation of brands in all divisions, in countries around the world.
“Series A financing is a banner year for Replika. We were able to rapidly grow a client roster across multiple verticals, introduce significant scheduling and feature upgrades, while consolidating our management team with key executive appointments. We believe this financing will help us change the current paradigm of online sales, not only in the fashion and beauty industries, but also in the broader industries of health, entertainment, travel and electronics. ” stated Corey Gottlieb , co-founder.
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