QuoteMachine collects $3.7m in Manresa Ventures-led seed deal

• Manresa Ventures led the round, with additional investment from Clocktower Technology Ventures and Precursor Ventures
• QuoteMachine has to date raised $4.6 million in total funding
• The company intends to use the funds raised to launch new payment solutions, offer new inventory management capabilities and grow its go-to-market teams

QuoteMachine, a Montreal-based provider of retail sales software solutions, has raised $3.7 million in seed financing. As a result, the company increased its total funding to $4.6 million.

Manresa Ventures led the round, with additional investment from Clocktower Technology Ventures and Precursor Ventures.

With QuoteMachine, retailers can leverage a range of payment options to oversee big-ticket sales, enabling procurement and inventory management solutions that empower salespeople to deliver more personalized customer experiences via an in-house payment solution. In the last six months, the company’s team size has more than doubled and the company has handled $40 million in gross merchandise value on a monthly basis.

QuoteMachine intends to use the funds raised to launch new payment solutions, offer new inventory management capabilities and grow its go-to-market teams.

“QuoteMachine provides the best-in-class payment solution for online and offline retailers who rely on high-touch, personalized sales for categories such as home & design, pools & spas and high-end furniture,” said Jackson Gates, a managing partner at Manresa Ventures, in a statement. “Historically, these retailers needed to take card payments over the phone, process unnecessary paperwork and reconcile multiple payments across their systems.”