Arcade Raises $4.5 Million Growth Seed Round to Transform Sales Performance
Jul 1, 2021
DALLAS, July 1, 2021 /PRNewswire/- Arcade, a software provider that uses gamified micro-incentives to strategically motivate, engage and incentivize sales people to increase revenue driving activities, announced today that it has closed a $4.5 million Growth Seed round led by Stage 2 Capital with participation from Revolution’s Rise of the Rest Seed Fund, Our Innovation Fund, and ATX Venture Partners. The funding will support Arcade’s expansion into inside sales teams and automotive dealerships, as well as continued growth with front-line sales teams in wireless retail. The funding also enables Arcade to strengthen product, sales, marketing, and advance integration with key strategic partners.
The infusion of capital comes at a pivotal time. In a recent study, Villanova University concluded that companies with positively engaged employees outperform their competition by up to 202%, while generating 2.5 times more revenue. With fast-growing young and distributed workforces, as well as increased market competition, organizations are more focused than ever on investing in solutions that measurably elevate employee productivity and engagement.
As the global economy begins its road to recovery after the pandemic, companies are faced with the growing challenge of keeping employees engaged and driving increased sales performance. With Arcade, companies can quickly implement fun, easy-to-use games and incentives that empower employees to hit their goals. The Arcade platform is optimized to accelerate productivity while providing leaders with comprehensive reporting on their employees’ performance. Organizations have a competitive advantage by boosting motivation, performance, and retention of their workforce through streamlined communication, employee recognition, and gamified incentives.
Engaged sales teams provide better customer service and sell more. Arcade’s performance engagement software is designed to focus and motivate salespeople, and recognize them for their hard work. That, in turn, incentivizes employees and boosts their performance, ultimately driving profitability.
“This Growth Seed funding further solidifies Arcade’s position as a premier provider of gamification software designed specifically for businesses to motivate, incentivize and retain employees across many industries – activity that’s critical in today’s challenging business climate,” says Arcade cofounder David Cherrie. “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 salespeople across the globe.
“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," says Jay Po, Managing Partner and Co-Founder of Stage 2 Capital, who has joined the board as part of the financing. Chris Shonk, Managing Director of ATX Venture Partners says “Arcade doesn’t just improve sales productivity, it changes behaviors and ultimately, company culture. We are excited to watch Arcade’s growth.”
Arcade is a Dallas-based software company that applies a proprietary gamification approach to help businesses boost the productivity of their sales team. That approach is embodied by a SaaS solution that Arcade has created, which intelligently gamifies the workplace to empower leaders and engage employees. To that end, the company embraces a mission of being the reason why more than 1 million people love their work. Arcade was founded by David Cherrie and James McLaren.