Austin, Texas — October 11, 2018
Rollick, the first affinity buying program and enterprise lead management solution for the powersports, RV, marine and industrial equipment industries, has closed $8.3M in Series A funding. LiveOak Venture Partners led the round joined by additional new investors (Anthem Venture Partners and ManchesterStory Group) and existing investors (Silverton, Autotech Ventures and Capital Factory). Krishna Srinivasan, founding Partner of LiveOak Venture Partners will join the Rollick board of directors.
This brings the total capital invested in the company to almost $14M. The latest round will be used to continue Rollick’s rapid progress in the powersports and RV industry, and mirror those efforts in the marine and industrial industry to offer the full suite of Rollick products to dealers and manufacturers.
A portion of the investment was used to fund the acquisition of AVALA Marketing Group in late September. AVALA has provided digital strategy for manufacturers in the marine, RV and industrial equipment industries for decades, and is the only OEM-to-dealer marketing automation, lead nurturing and loyalty management platform with this specific vertical focus. The combined company provides both manufacturers and retailers in distributed dealer networks with an efficient and effective end-to-end marketing solution.
“We like to back exceptional teams targeting large and underserved markets. Rollick embodies that with an accomplished team, deep domain expertise and an innovative solution for the entire ecosystem of dealers, manufacturers and buyers,” said Krishna Srinivasan, founding Partner, LiveOak Venture Partners. “Given the rapid impressive traction, Rollick is poised to become a market leader across these categories,” Srinivasan added.
“We’re fortunate to have LiveOak, ManchesterStory and Anthem join our investment team,” said Bernie Brenner, founder and CEO of Rollick. “Krishna will be an incredible asset to our board of directors as well – he’s one of the most impressive venture capitalists I know, well-respected, and has deep experience in helping tech companies grow.”
Rollick will be exhibiting at the American International Motorcycle Expo (AIM) in Las Vegas on October 11-14, 2018 in booth #2250. Manufacturers and dealers are invited to visit the booth to learn about the platform, take advantage of a special promotion and easily set up their profiles.
About Rollick, Inc.
Rollick, along with its subsidiary company AVALA, connects manufacturers, dealers and in-market consumers in the powersports, RV, marine and industrial equipment industries to deliver a seamless customer journey. Rollick’s solutions include new customer acquisition, enterprise lead management, customer experience/loyalty and marketing automation. In addition, the company has rapidly built a national outdoor recreational vehicle buying network to include hundreds of dealers, over 60 manufacturers and an affinity partner network with access to over 50 million high-quality customers including policy holders of major insurance providers, employees at more than 2,000 top U.S. companies, members of the military, veterans and first responders. For more information, visit Rollick and AVALA.
About LiveOak Venture Partners
LiveOak is a venture capital fund based in Austin, TX founded by Ben Scott, Krishna Srinivasan, and Venu Shamapant. With over 18 years of successful venture investing in Texas, the founders of LiveOak have helped create over $1.5 billion of enterprise value in exits. While almost all of LiveOak’s investments begin in the early stages, LiveOak is a full lifecycle investor focused on technology and technology-enabled services companies based in Texas. LiveOak Venture Partners is a lead investor in exciting high-growth Texas-based companies such as CS Disco, Digital Pharmacist, NSS Labs, Ojo Labs, and Opcity. To learn more visit LiveOak Venture Partners.
About ManchesterStory Group
ManchesterStory Group is a VC firm investing in early-stage InsurTech, FinTech, and Healthcare companies delivering solutions that accelerate digitization of the $4.6 trillion insurance industry. Areas of interest include emerging technologies enhancing underwriting and pricing, digitizing distribution, lowering claims expenses, improving customer experience, and digitally-enabling asset and wealth management. For more details, please visit ManchesterStory Group
About Anthem Venture Partners
Anthem Venture Partners is a Los Angeles based venture capital firm founded by William Woodward in 2000. For the last 18 years Anthem has been a staple in the Southern California venture ecosystem deploying hundreds of millions worth of investment capital backing exceptional entrepreneurs. Anthem looks to lead with $1 million to $5 million checks and invests at both the early and growth stages of a company’s lifecycle. As a firm established and run by entrepreneurs and operators, Anthem takes an active approach to investing and goes to work hard for the founders they back. To learn more please visit: Anthem Venture Partners
Consumers today have been trained by leading eCommerce and tech companies that anything can be delivered to them in an instant. When shopping on Amazon, buyers can point, click, and have items shipped within a couple of days, and in some cases the same day. Ask Alexa where the nearest boat dealer is located, and she immediately provides the distance to get there, directions, and will even call the dealership for you. Information is endless and easily accessible to make informed purchase decisions. However, when examining today’s retail experience in the recreation industry, the buying experience is counter to what consumers expect, especially when purchasing a big-ticket item, such as a boat.
Warranty registrations. Words that might bring about a long sigh and an eye roll for OEMs and dealers in the recreation industry. Warranties can be a great consumer benefit: they are a huge selling point and can make a one-time buyer into a lifelong customer. Submitting Registrations, on the other hand, is an extra step in the sales process and typically the last thing dealers want to think about after making a sale. However, the secret we all know is that registrations play a huge role in warranty claim management, continued customer satisfaction, and a healthy marketing ecosystem between OEMs and dealers.
While the pandemic has created some uncertainty in the world, it has also created a selling opportunity for OEMs and dealers selling outdoor recreational vehicles and boats. As we enter the summer months, we are seeing a shift from summer vacations and travel expenditures to more investment in local, outdoor lifestyle activities where social distancing can be easily monitored.