Erply, an Estonian startup specialising in providing a wide range of core business services to companies, has received a whopping $2 million in funding from Redpoint, Index Ventures, Marten Mickos, Zack Urlocker, Kenny van Zant, Aydin Senkut, David McClure and the Accelerator Group. The one year old company (founded 2009) has more than 2000 business customers and 8000 users. It is currently profitable with approximately 20% growth each month, according to TechCrunch.
Erply offers a SaaS model for inventory control, book keeping and point-of-sales services. Erply targets their services especially for smaller clients, mainly with actual store fronts that do not want to pay up front huge amounts of money for more established solutions. While Erply’s services are mainly free it holds a 25% conversion rate from free to paid services. The average monthly subscription fee is also considerable – $74.
Erply was also one of the Seed Camp winners back in 2009 and it is said that this is the first Seedcamp winner to get funding from Index Ventures. Not at all a bad track record for this company. I’ve said this before in my previous posts about Erply, but I’ll say it again – there’s a lot to like in this startup and I’m sure it will be a big player in its sector in a few years time.