Springfield Startup Compatio Raises Seed Round And Brings Total Investment To $2.4M
Compatio, the Intelligent Commerce platform that moves the in-person customer experience (UX) online, today announced it has completed a $1.5 million Seed Round of financing. With participation from both existing and new investors, a $250,000 investment from the Missouri Technology Corporation (MTC) was the catalyst to attract the final investment to close the round. The round was led by Kurt Hellweg, former CEO of American Dehydrated Foods.
Compatio participated in the Springfield-based efactory 2019 accelerator, which was instrumental in helping build Compatio’s investor network. This investment adds to Compatio’s $900,000 Pre-Seed Round, bringing total funding since launching the development of its revolutionary knowledge -based commerce platform to $2.4 million. The funds will help the company aggressively expand its sales and marketing efforts, as well as broaden and accelerate product development.
“Ecommerce was growing at a rapid pace and the COVID-19 pandemic accelerated that growth. However, many retailers selling products that include multiple components have failed to create an effective online user experience, limiting their ability to take advantage of ecommerce opportunities,” said Kurt, Hellweg, lead investor, “We are excited about Compatio’s solution as it recreates a personal user experience in an ecommerce environment.”
Compatio’s Knowledge-based Commerce Suite provides an Intelligent Customer Experience® that accelerates online purchases. This increases retailer revenues through analytics-driven matching of components to create an optimal final product, precision cross-selling, decreases costs due to returns, and improves customer satisfaction. Buyers, whether consumers or corporate, enjoy a faster, more seamless purchasing experience. Compatio’s technology understands the compatibility relationships between products, and between products and services, enabling a B2B buyer or consumer to discover and buy the correct product solution that precisely fits their needs.