New Orleansbased technology firm scores $25M funding investment
Nov 12, 2024
A New Orleans-based technology firm has reached a significant milestone, and investor confidence has reached a new level.
Prokeep, a customer communication and engagement platform for distributors, has raised $25 million in a Series A funding round to enable the technology firm to accelerate its growth and expand its demand generation capabilities designed for distributors. San Francisco-based Dahlia Equity Partners led the investment, with continued support from Ironspring Ventures, S3 Ventures, Benson Capital Partners, and others.
“Our Series A funding marks a significant milestone for Prokeep,” said Prokeep CEO and Co-Founder Jack Carrere, born and raised in New Orleans. “We are grateful for the confidence our customers and investors have shown in our vision.”
In 2016, Carrere launched the company alongside McKay Johnson, COO, and Mark Kanof, CTO. Carrere and Johnson are cousins who always wanted to launch an entrepreneurial project together. In 2011, Carrere met Kanof at a startup event in Portland. Kanof, an engineer, was living in Portland and determined on solving practical problems with technology. For several years, the two continued to share start-up ideas, and Carrere would relay these ideas back to Johnson and vice versa. Eventually, the three teamed up.
Prokeep has built software that centralizes digital inbound communication and unlocks an outbound sales engine — providing distributors with better customer experience, more sales opportunities, and increased efficiency. The founders built the software and technology to get distributors away from taking customers’ messages on personal phones, storing notes on yellow notepads, and job files and inquiries on basic computer software. Transition them to a cloud-based communications platform where distributors could receive, field, and file all communications – an easy-to-use mission control for distributors adding three primary values of efficiency, accountability and convenience.
Prokeep is now used by more than 8,500 distributor locations across North America, enabling more than 20 million conversations. The platform has facilitated more than $11 billion in orders across North America by connecting distributors with more than 3.5 million tradespeople, mechanics, service people, and other professionals.
“The exciting part of this funding is that we will be able to continue to invest in technology that makes everything more efficient and streamlined for our customers, thereby driving even more growth for their companies and demand for their business,” said Carrere.
Prokeep has partnerships with several top manufacturers across the industry, including LG, Paccar Parts, High Bar Brands, JCI, Allied Air, and Schneider Electric. Also working with industry leaders ABC Supply, WinSupply, Johnstone Supply, City Electric Supply, NAPA, and Ferguson, Carrere said Prokeep has helped these teams improve response times by 30%, gain back an average of nine hours a week, and equip themselves with more accuracy and speed for sales opportunities.
“We have heard loud and clear from our customers that driving demand in a way that builds upon the relationships (in many cases generational relationships) they’ve already built is vital to their future, and we’re energized to use this new capital to accelerate this reality for them with a clear mission — empower proactive communication to build stronger relationships and drive sales,” said Carrere. “With the support of Dahlia Equity Partners and our existing investors, we are ready to continue delivering the innovation that unlocks more wins for distributors.”
The $25 million is nearly three times the amount the company raised in June 2022 when Prokeep announced the closing of its $9 million seed round. The new $25 million in funding will support the expansion of Prokeep’s demand-generation capabilities, which leverage insights from more than 60 million messages sent through the platform. Carrere said building on early success and customer feedback that Prokeep has invested in data enrichment by leveraging AI models to help distributors extract conversation attributes. These insights include brand preferences, customer intent, and sentiment to enable more efficient and powerful sales enablement, marketing, and other proactive outbound activities.
“We are thrilled to lead Prokeep’s Series A funding round,” said John Giannuzzi, Managing Partner at Dahlia Equity Partners, a private equity firm that invests in software companies that power core customer workflows. “Prokeep has proven itself as a crucial player in the distributor communication space, with a strong track record of delivering value to its customers. Prokeep is purpose-built for how distributors work and communicate with their customers, and we are excited about the opportunity to help distributors drive proactive demand, unlock new sales opportunities, and further enhance customer engagement.”
Prokeep employs more than 100 people in offices in New Orleans, Atlanta, and remote employees across the U.S. Carrere said the funding will also allow Prokeep to accelerate hiring over the next several years.
“Born and raised in New Orleans, I am excited to continue to grow our company here and also grow the tech ecosystem here to offer careers to people who are driving innovative solutions to our clients,” said Carrere. “Our investors and customers have shown the highest levels of confidence in our work and our product, and we are going to continue to innovate.”