Theatro Closes $20 Million Series C Funding to Accelerate the Growth of Its Enterprise Mobile Platform
Nearly 125,000 Frontline Employees Use Theatro’s Intelligent Voice Assistant to Help Them Do Their Jobs; Funding to Continue the Expansion of Theatro’s Mobile Platform into New Markets and Geographies
Theatro, the fastest-growing enterprise mobile voice platform in the market, announced it has secured a $20 million Series C investment from Sageview Capital, a growth capital firm focused on investing in leading tech-enabled businesses. The new investment follows closely after Theatro’s $15 million Series B-1 earlier this year that included strategic investments by Cisco Investments and Honeywell Ventures. This new capital will help Theatro rapidly scale its offerings across retail, hospitality, manufacturing and other markets that have large hourly workforces. With this investment, Sageview Capital partner Dean Nelson will join the Theatro Board of Directors.
“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.”
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. 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. 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.”
This Series C growth round follows significant developments from Theatro throughout 2019. 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. 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 has 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,” said Chris Todd, CEO, Theatro. “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.”