Womply President Cory Capoccia discusses the evolution of the payments space and the technology companies driving innovation for U.S. merchants.
With Womply Protect, small business merchants can receive proactive threat alerts, encourage positive online reviews, receive direct customer feedback, safeguard important information, and more from a single login.
The partnership empowers merchants to use Vantiv BizShield and Insights to manage, protect, and simplify their businesses with real-time data, advanced analytics, online reputation management, and proactive threat management.
Capterra discusses how Womply helps SMBs use big data to attract customers and simplify daily tasks. Womply has already helped tens of thousands of SMB clients in every corner of America find value in their information.
One increasingly popular retention strategy is to give businesses data, and more of it. Data to help merchants learn just how they’re doing, and what their customers are up to, is the main business of San Francisco-based Oto Analytics Inc., which does business as Womply. The company’s core Insights product generates data from 4 million businesses and 15 social-media sites, Barry Davis, vice president of business development, said at a panel session entitled “Value Beyond Processing: New Revenue Streams From Non-Transaction Related Products.”
Womply won the first-place TestTrack2017 Innovation Award, which included a $1,000 cash prize and complimentary exhibit space at Transact 17, the Electronic Transactions Association's annual conference to be held in May 2017 in Las Vegas. "It was an honor to compete with such prestigious and technologically advanced companies as POPcodes, OneSource, ControlScan and Protocol," [Womply's Barry] Davis said.
"We were primarily motivated for the right workforce, but there were also better economic conditions," says Cory Capoccia, president of the firm Womply, a business-support startup that expanded from California in August 2016. "The market is growing strongly, but there also isn't the same overhead that you get in some of the other markets like San Francisco."
Boosted by a recent $30 million growth equity round from Sageview Capital, Womply has been able to quickly ramp up efforts across all three locations and Utah is seeing a portion of that benefit.
Womply launched Retention Intelligence, an analytics solution designed to monitor processing volumes, online activities and competitive market trends.
Retention Intelligence will help acquirers and processors proactively identify risk and reduce merchant attrition. Alerts can be delivered by email or sent directly into a CRM or ticketing system for use by an acquirer/processor’s Customer Service, Retention, and Sales teams to focus on merchants that need their attention.
Recently, Womply has shown how technology can not only help the end customer (i.e. merchant), but that those delivering the technology solutions can reap the benefits of more successful clientele.
Womply expands Lehi office
Womply, a San Francisco-based software partner to the credit card processing industry, and a company specializing in front office software for small and medium-sized businesses, announced the expansion of their Lehi sales and support office.
Originally working in a 4,000-square-foot space, Womply recently jumped up to 16,000 total square feet in Lehi. The existing team of about 70 employees has grown quickly since initially opening the office in August of this year.
“I’m extremely proud to be part of the team that brought Womply to Utah. I think the rate we grew our office speaks volumes to the talent in the Silicon Slopes area. I’m very excited about our plans to continue to grow in Utah in 2017 and beyond,” said Chris Ofstad, Womply sales manager.
Womply also has offices in San Francisco and Portland, Oregon. Portland and San Francisco share the engineering, product and marketing workload, while the team in Utah handles customer sales and support. The Lehi office will also expand the company’s back office teams in 2017.
I’ve been impressed with the quality leaders and employees who have joined our Utah office over the last few months, and we’re just getting started,” said David Rogers, Womply vice president of sales. “We will continue to hire from the wealth of talent in Utah’s technology space to help Womply become the premiere front office solution for small businesses.”
Womply reduces merchant attrition by 17% on average according to recent long term impact study of more than 400,000 merhcants.
Womply, a San Francisco startup that helps small retailers and service businesses manage their marketing, plans to double the size of its small Portland outpost in 2017 after raising $30 million in new funding last month.
The five-year-old company has now raised $50 million altogether. Womply employs 20 in an office on Portland's downtown transit mall, plus 70 at its San Francisco headquarters. It has another 70 workers at a sales office in Utah, where it is slated to expand to 175 with the help of local subsidies.
The Portland office focuses on product management, software engineering and project management, according to Nathan Scripps, Womply's director of special projects.
"The combination of a vibrant local community and top-tier talent make Portland an ideal fit for Womply," Scripps wrote in an email.
Oregon has no large tech companies of its own but its comparatively low operating costs have attracted substantial outposts from many of out-of-state companies, including Intel, New Relic, eBay, Airbnb, Google, Hewlett-Packard Enterprise, Salesforce and Amazon.
Portland has recently become a destination for younger tech and service businesses, too. Like the big companies, they're looking to avoid the expense and intense competition for workers they would endure in the Bay Area or other large markets.
Companies with newer outposts include online security company Cylance, marketing software company Showpad, small-business accounting specialist inDinero, Danish accounting software company Billy, and ticket search aggregator SeatGeek.
BUSINESS JOURNAL: Software startup scores $30M to help small businesses manage reviews
Small-business software developer Womply this week announced it had raised $30 million in its latest round of funding, led by Sageview Capital. The company has raised $50 million to date.
Most small businesses live and die by staying on top of online reviews from sites like Yelp, and by measuring the impact of their marketing. Without software, business owners would have to remember to check online review sites regularly, and try and crunch the data themselves around which marketing campaigns are working, and which aren’t.
San Francisco-based Womply’s software automates some of the thornier aspects of running a small business: Its tool can alert business owners when new reviews get posted, and give them tools to respond to reviews directly. Womply makes software that analyzes credit card transactions to figure out the company’s top repeat customers, and whether marketing efforts are effective in attracting new customers.
Womply’s software automates some of the thornier aspects of running a small business: Its tool can alert business owners when new reviews get posted, and give them tools to respond to reviews directly. Womply makes software that analyzes credit card transactions to figure out the company’s top repeat customers, and whether marketing efforts are effective in attracting new customers.
The company additionally makes a digital filing cabinet for important paperwork and passwords.
“Womply’s mission is to use technology and data to grow, protect, and simplify small business,” Womply President Cory Capoccia said in a statement. “This additional investment will allow us to scale even faster, further expand our partnerships, and remain laser focused on our merchant customers for many years to come. We can’t wait to announce new products and partnerships in 2017.”
Womply has added more than 60,000 customers in the last two years, working in more than 400 industries. The company says its new round of funding will help it hire more people and develop new products.
Capoccia spent five years at online payment processor Verifi before joining Womply.
Womply announced a $30 million investment round this week in support of its front-office SME software, reports said.
The company revealed the new funding, led by Sageview Capital, which now brings the total funds raised by Womply to $50 million. The firm said it will use the latest backing to expand its staff and develop new products as it looks to gain deeper traction with SMEs.
“Womply’s mission is to use technology and data to grow, protect and simplify small business,” said Womply President Cory Capoccia in a statement. “This additional investment will allow us to scale even faster, further expand our partnerships and remain laser-focused on our merchant customers for many years to come.”
In its announcement, Womply noted that SMEs are facing greater competition from larger corporations, making it even more critical that they deliver top-notch customer services. In another statement, Sageview Capital Partner Dean Nelson said he is “impressed” by Womply’s ability to innovate.
“Womply has quietly established itself as one of the fastest-growing SMB software companies we’ve seen,” he said. “This growth has depended in large part on the unique partnership model that they pioneered and perfected, which provides significant value to partners and merchants alike.”
“We are thrilled to lead this investment in Womply and look forward to working with the management team as the company provides an even broader range of products and services to a growing number of small and medium-sized businesses,” he added.
The funding round follows Womply’s partnership launched with JetPay earlier this year. Their collaboration enables JetPay to launch its Insights tool, which provides SMEs with financial data analytics capabilities with information aggregated by Womply. The companies said their deal aims to empower SMEs to make more accurate and informed decisions, armed with insight into things like revenue tracking and competitor trends.
Womply, the leader in front office software for small and medium sized businesses (SMBs), announced today that it has raised $30 million in a growth equity financing led by Sageview Capital, with participation from existing investors. Since its founding in 2011, Womply has raised $50 million in total investment from a combination of high net worth, venture capital, and growth equity investors. The company plans to use the new capital to hire more staff, expand its product offerings, and reach more small and medium business customers.
“Womply’s mission is to use technology and data to grow, protect, and simplify small business,” said Cory Capoccia, President of Womply. “This additional investment will allow us to scale even faster, further expand our partnerships, and remain laser focused on our merchant customers for many years to come. We can’t wait to announce new products and partnerships in 2017.”
SMBs employ more than 40 million people across the country, and over 5.5 million of them have fewer than one hundred employees. As large corporations continue to expand into new and different business categories, these SMBs face increased competition and need new ways to differentiate themselves and deliver outstanding customer experiences. Womply is proud and excited to support this group of amazing people who share so many of our Core Values.
Womply is one of the fastest growing SMB-focused technology companies in America. In the past two years alone, Womply has added more than 60,000 small and medium sized businesses as customers. The Womply software platform is a must have for SMBs of all types and locations. The company’s unified, browser-based platform satisfies the most common monitoring, analytics, and marketing needs for SMBs including online presence and reputation management, customer and revenue analytics, and easy-to-use marketing tools. Womply serves businesses in nearly every zip code in America, across more than four hundred business categories such as restaurants, retail, auto, health and beauty, hospitality, medical, and many more.
Womply is also the leading provider of merchant-focused software to the credit card processing and acquiring industry. Since 2012, Womply has signed more than thirty exclusive product and distribution partnerships with leading credit card processors, acquirers, and independent sales organizations (ISOs). Together these partners process hundreds of billions of dollars in annual credit card transactions in the United States for millions of merchants.
“I have known the Womply team for many years and have been impressed by their product innovation and performance,” said Dean Nelson, Partner at Sageview Capital. “Womply has quietly established itself as one of the fastest growing SMB software companies we’ve seen. This growth has depended in large part on the unique partnership model that they pioneered and perfected, which provides significant value to partners and merchants alike. We are thrilled to lead this investment in Womply and look forward to working with the management team as the company provides an even broader range of products and services to a growing number of small and medium sized businesses.”
Womply is a software-as-a-service (SaaS) provider to small and medium businesses and one of the fastest growing software companies in America. Our mission is to use technology and data to grow, protect, and simplify small business. Every day we serve tens of thousands of merchants, across 400+ business verticals, in every corner of America. We're hiring for engineering, devops, design, sales, marketing, business development, account management, and more. For more information visit https://womply.com or email firstname.lastname@example.org
ABOUT SAGEVIEW CAPITAL
Sageview Capital LP is a private investment firm providing growth capital to small and mid-sized companies in the technology, business services, and financial services sectors. The firm’s investments include 360insights, Alfresco, Avalara, Crimson Hexagon, Demandbase, EverBank Financial, GoPro, MetricStream, Reflexis, and United Capital, among others. Sageview was founded in 2006 and is led by Ned Gilhuly and Scott Stuart, former partners of Kohlberg Kravis Roberts & Co. (KKR) and Dean Nelson, former head of KKR Capstone. The firm has offices in Greenwich, Connecticut and Palo Alto, California. For more information, visit www.sageviewcapital.com.
SALT LAKE CITY (Nov. 10, 2016)—Womply and the Governor’s Office of Economic Development (GOED) today announced the small business data analytics company will open a Utah office, adding up to 175 high-paying jobs to the community.
“Womply is a Silicon Valley company that has identified an important niche market and is experiencing rapid growth,” said Val Hale, executive director of GOED. “Womply used a thorough vetting process to consider multiple markets for expansion and ultimately selected Utah for its high-caliber workforce. We congratulate the company on a wise decision.”
Founded in San Francisco in 2011, Womply uses technology and data to grow, protect and simplify small business. The company provides on a subscription basis a suite of business monitoring, analytics, and marketing tools that help merchants manage their businesses more easily and get more customers. For example, Womply provides complete monitoring and management of online reviews from sites such as Google and TripAdvisor. Womply is also the leading technology partner to the credit card processing industry.
“We are thrilled to be expanding into Utah County and to tap into the great pool of local talent,” said Cory Capoccia, president of Womply. “We aim to build a lasting presence in the area, and we are hiring aggressively for sales, operations, engineering and other critical roles to accelerate and support our already industry-leading growth.”
The Womply project will create up to 175 jobs over the next five years. The total wages in aggregate are required to exceed 110 percent of the county average wage. The projected new state wages over the life of the agreement are expected to be approximately $41,325,000. Projected new state tax revenues, as a result of corporate, payroll and sales taxes, are estimated to be $1,952,888 over five years. The project is expected to generate up to $100,000 in capital investment.
“We are excited to welcome Womply to Utah,” said Michael Flynn, chief marketing officer and acting chief of staff at the Economic Development Corporation of Utah. “This project represents another win in the ‘fin-tech’ industry and will bring more high paying jobs to the state. We are thrilled that Utah continues to make its mark in this growing industry.”
Womply may earn up to 15 percent of the new state taxes they will pay over the five-year life of the agreement in the form of a post-performance Economic Development Tax Increment Finance (EDTIF) tax credit rebate. As part of the contract with Womply, the GOED Board of Directors has approved a post-performance tax credit rebate not to exceed $292,933. Each year as Womply meets the criteria in its contract with the state, it will earn a portion of the total tax credit rebate.
Womply is working closely with the local community to determine the best location for the new operation. Exact location will be determined at a future date.
About the Utah Governor’s Office of Economic Development (GOED)
The Governor’s Office of Economic Development (GOED) charter is based on Gov. Gary R. Herbert’s commitment to statewide economic development. The state’s economic vision is that Utah will lead the nation as the best performing economy and be recognized as a premier global business environment and tourist destination. GOED provides extensive resources and support for business creation, growth and recruitment statewide, as well as programs to increase tourism and film production for the benefit of Utah residents. All administered programs are based upon strategic industry clusters to develop a diverse, sustainable economy. GOED accomplishes its mission through unprecedented partnerships. For more information please contact: Aimee Edwards, (801) 538-8811 or email@example.com.
Womply is one of the fastest growing merchant-focused companies in America. Our mission is to use technology and data to grow, protect and simplify small business. Every day we serve tens of thousands of merchants, across 400 plus business verticals, in every corner of America. Womply helps merchant-focused companies and organizations acquire, retain and monetize merchants. To learn more, visit www.womply.com or email firstname.lastname@example.org.
This past summer, Pokemon Go became the most successful mobile gaming app of all time. Story after story was reported about the enormous impact that the game was having on merchants' revenues.
Womply analyzed it's database of over 2 million merchants saw things differently very differently.
Check out Forbes' piece about Womply's analysis here.
GREEN SHEET: Making big data work for small merchants
Womply powers a unique platform, Insights, designed to help merchant-focused companies and ISOs acquire, retain and monetize merchants better. Insights makes big data work for small businesses so they can use technology and data to their advantage to grow and protect their businesses while simplifying the amount of time running their businesses requires, the company noted.
"In most cases, business owners today don't have access to all of the information they need to run their businesses," Cory Capoccia, President of Womply, said. "They have a difficult time answering questions like: What do I do when someone posts a review about my business online? or How do I stay informed of changes my competitors are making to win customers away from me? or Am I spending my advertising budget effectively to attract more new versus repeat customers into my business?"
Capoccia added that Insights provides merchants answers to these questions and more, and gives the referring ISO credit for delivering the value. "This helps increase merchant loyalty in ISO portfolios, which otherwise would experience very high attrition rates," he said.
Customer retention weapon
Today, ISOs are under attack by tech companies like Square Inc., and others, looking to use value-added services to grab market share. To help ISOs retain merchant customers, Womply equips them with the solutions that small and midsize merchant businesses require to thrive, but were previously available only to companies with multimillion-dollar IT budgets. Womply noted that its products are priced affordably, enabling ISOs to offer merchants a leg up over their competitors and the ability to grow revenue.
The Insights solution pushes data to merchants, informing them how their businesses are performing over time and relative to their competition, who their best customers are, and what their customers are saying about them on various online review sites like Yelp, Facebook, Google and more.
Womply pointed out that it also helps merchants prevent and manage negative online reviews, identify their best customers, and advertise to acquire new customers.
"Because of the value merchants receive, ISOs who offer Womply's products to their portfolio have seen a 17 percent average reduction in attrition rates," Capoccia said. "We're very proud to play a part in helping to keep our partners' merchant churn lower than what they would have experienced otherwise. We also enable our ISO partners to change the type of discussion they typically have with merchants, from a cost-based conversation of, How can I save you money on your processing? to a value-based conversation of, How can I help you run your business better, make more money, retain the customers you've got, and save time?"
Today's busy merchants often don't have enough time to get everything done. Womply stated that Insights helps merchants connect with their customers and conduct highly effective marketing campaigns without hassle.
"Our mission is enablement and simplicity: How do we connect merchants directly with their customers and give them access to the set of marketing skills and resources that they don't have in house?" Capoccia said. "How do we make it easy for them to make decisions around customer acquisition so they don't have to figure it out on their own?" That means providing merchants the maximum advantage so they can use their hard-earned funds as efficiently as possible, especially when they are operating on extremely tight budgets, he added.
Womply emphasized it will continue to focus on saving time for small business owners in the areas that might have caused merchants headaches historically. "Importantly, we want to make sure that our ISO partners are getting credit, because when merchants receive that value, they become even more loyal to the ISOs we are working with," Capoccia said. "When we help our ISO partners sell, retain, and monetize merchants better, and merchants run their businesses better, it is a win-win-win for all three parties involved."