When we first encountered the Repsly team back in 2017 we didn’t know much about venture as an asset class. Quite frankly, we didn’t even know what questions to ask or how to put metrics that were presented into a perspective but we immediately knew these guys were for real. Marko and Marko were on a mission to improve efficiency of retail field teams by giving them all the data driven tools they needed and they were doing it while growing 100% year over year.
Their product was already global and used by clients such as Nike Inc. and Dyson Limited so when presented with an opportunity to invest in their vision at a valuation that seemed reasonable even for our public market brains (not something we have seen often since), it was as a snap decision. This was our first startup investment and we all know that all the life’s first ones are remembered somewhat emotionally and that being said, we feel that Repsly’s success flew slightly under the radar.
Being humble guys, two Markos put their heads down and grinded up until a partial acquisition of Repsly by Resolve Growth Partners in 2019 was done at an almost 40 million USD valuation which puts Repsly near the top of the most successful regional SaaS list. Achieving this during the time of scarce VC money in the region without any real local trailblazers to carve the path prior to them makes their accomplishment even more remarkable. We feel very lucky that we were given a chance to be a tiny part of all of that.