US, Dallas-based software company Arcade, which uses gamified micro-incentives to boost the productivity of sales teams, raised US$ 4.5 million in a seed funding round on 1 July 2021.
Investors: The funding round was led by VC firm Stage 2 Capital with participation from Revolution’s Rise of the Rest Seed Fund, Our Innovation Fund and ATX Venture Partners.
Purpose of the funding: The funds raised will be utilized by the startup to expand its footprint in inside sales teams and automotive dealerships, and also develop its front-line sales teams in wireless retail. The funds will allow the Arcade team to strengthen its product, sales, marketing and advanced integrations with its key strategic partners.
About Arcade
Founded in 2015 by David Cherrie and James McLaren, Arcade provides a solution to sales teams that gamifies employee goals to measurably lift performance and retention. The software is an all-in-one solution for rewards, recognition, contests, communication and staff training. Arcade has customers across many industries for both small and large teams. It helps them to enhance employee productivity through streamlined communication, employee recognition and gamified incentives. Arcade has offices in Dallas and in Melbourne, Australia as well.
Arcade’s SaaS solution intelligently gamifies the workplace. Its mission is to improve performance with contests and not leaderboards. The startup believes that engaged sales teams provide better customer service and sell more.
What the founders have to say: “With this infusion of funding, we are focused on expansion, partnering with strategic companies to broaden Arcade’s reach, and furthering our mission of engaging one million sales people across the globe. That goal builds on Arcade’s founding idea that happy workers do their best work, live their best lives, and are more successful because of it.” — David Cherrie, co-founder of Arcade.
“The investment solidifies Arcade’s position as a premier provider of gamification software. The technology is specifically designed to enable businesses to motivate, incentivize, and retain employees across many industries, a critical application in today’s business climate.” – David Cherrie, co-founder of Arcade.
What the investors have to say: “Arcade is at the forefront of how teams are investing in their people. Employers need more creative ways to drive team productivity with real-time, action-based incentives and Arcade is the way to do that in one fully integrated platform.” — Jay Po, managing partner and co-founder of Stage 2 Capital.
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