- Enterprise mobile voice platform company Theatro announced that it raised $20 million in Series C funding
Theatro — one of the fastest-growing enterprise mobile voice platform in the market — announced that it has raised $20 million in Series C funding from Sageview Capital. This round of funding comes on the heels of Theatro raising $15 million in Series B-1 earlier this year, including strategic investments from Cisco Investments and Honeywell Ventures.
The new funding round will help Theatro rapidly scale its offerings across retail, hospitality, manufacturing, and other markets that have large hourly workforces. And with this investment, Sageview Capital partner Dean Nelson will join the Theatro Board of Directors.
Theatro’s voice-driven virtual assistant gives frontline employees “heads-up and hands-free” mobile access to their enterprise systems, leadership teams, and each other. And the SaaS solution utilizes speech technology, mobile apps, and free IoT devices to help employees operate more efficiently and stay focused on customers rather than looking at a screen for information. Plus this helps businesses drive employee productivity and creates personalized customer experiences while increasing sales, conversion rates and operational profitability.
“Given Theatro’s strong momentum and unique, proven ability to empower hourly employees, we’re enthusiastic about the opportunity to be part of their future growth,” said Nelson. “We have been impressed with the impact that Theatro’s solutions have made in the retail market, and we believe that their strong value proposition will be well received across a broad range of geographies and markets.”
The Series C growth round of funding follows significant developments from Theatro throughout 2019. For example, Theatro has nearly tripled the number of stores deployed since 2018, including a major rollout with Walgreens and its first gaming customer Coyote Valley Casino. And with the addition of Spanish and French language support to meet the needs of global customers and the addition of strategic partners including Cisco, Intel, Honeywell and Microsoft, Theatro established a complete ecosystem necessary for rapid and sustained growth.
“We’re thrilled to have Sageview Capital invest in our vision of creating one united team across the enterprise by enabling the hourly workforce with voice-driven mobile connectivity,” added Theatro CEO Chris Todd. “As we continue executing our growth strategy in the new year and beyond, this investment will ensure that we continue to expand and transform the modern mobile workplace.”
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