FilterEasy Raises $6.9 Million in Series B Funding Led by Arsenal Venture Partners to Accelerate the Automated Delivery of HVAC Air Filters

RALEIGH, N.C., July 25, 2017 /PRNewswire/ — FilterEasy, a subscription-based HVAC air filter service, today announced it has raised $6.9 million in Series B funding, led by Arsenal Venture Partners and with participation from NC State Endowment Fund, Bonaventure Capital, Cofounders Capital, IDEA Fund Partners, John Replogle, and Triangle Angel Partners. These investors join Azure Capital, RTP Capital Associates, and the venture arm of Michael D. Olander Jr.’s MDO Holdings, among others.

Cofounders Thad Tarkington and Kevin Barry saw a market opportunity after personally experiencing some headaches with their own HVAC air filters. Air in the home can be up to 5 times dirtier than the air outdoors, so regular filter changes are essential to healthy living, and vital to those suffering from allergies or asthma. Tarkington and Barry discovered that the majority of homeowners were simply not changing their air filters often enough, as this particular home maintenance item is out-of-sight, out-of-mind. Changing filters on a regular schedule, when they need to be changed, extend the life of a home’s HVAC system and reduce HVAC maintenance costs. Furthermore, changing a home’s air filters on a regular schedule reduces heating and cooling costs by up to 15% per month, cutting down on energy bills and minimizing environmental impact. FilterEasy began offering high-quality filters in every size, delivered right to customers’ doors when it’s time to change them. This convenient service allows people to change their filters on time, every time, without all the hassles.

Since launching the website in 2014, FilterEasy’s revenue and subscriber base have grown rapidly, with a nearly 300% gain in 2016 and they are on track for another record year in 2017. The investors from FilterEasy’s Series B round join an enthusiastic group of savvy investors from FilterEasy’s prior investment rounds. Completion of the Series B investment round brings total funding to $11.4 million.

The new and existing investors bring a wide pool of experience from a variety of markets to FilterEasy’s armory. Arsenal Venture Partners, the round’s lead, is a unique growth equity firm that partners with visionary entrepreneurs building exceptional businesses. Arsenal specializes in high growth, recurring revenue companies, making them an ideal fit for FilterEasy. John Replogle is the current CEO of Seventh Generation Inc., and formerly was the CEO of Burt’s Bees and President of Guinness Bass Import Co. Azure Capital, a Silicon Valley investment firm, has also put their funds behind powerhouse companies like BillMeLater and VMWare. David Gardner is also an investor in both funding rounds for FilterEasy, and was the Triangle’s most active and involved angel investor, prior to founding Cofounders Capital, a free startup accelerator and early stage seed fund.

FilterEasy, founded in North Carolina, staying true to its roots included several local investors in the round. Thad Tarkington, CEO, and Kevin Barry, COO, founded the company while attending North Carolina State University. As the business model proved successful and the business grew rapidly, Tarkington and Barry shifted their focus from school to business. In a success story that has come full circle, NC State, became one of several collegiate investors in the Series B investment round. The closing of FilterEasy’s Series B investment round validates the immense amount of dedication and passion devoted to the business and serves as a catapult for future expansion.

About FilterEasy
Launched in 2014, Raleigh-based FilterEasy offers consumers a subscription-based HVAC air filter fulfillment service using a proprietary web-based platform to provide a convenient solution to a common household problem – remembering when to change an HVAC air filter. FilterEasy’s subscription model guarantees that correct size HVAC air filters are conveniently delivered to a home’s doorstep so they may be changed on a regular basis, which can reduce monthly heating and cooling expenses by 5%-15%. AAF Flanders, the nation’s largest residential HVAC filter manufacturer and supplier to NASA and U.S. hospital systems, manufactures FilterEasy HVAC filters in the United States. Visit www.FilterEasy.com.

Media Contact:
Nicole Choman
FilterEasy
(919) 348-9860
nicole@filtereasy.com

SOURCE FilterEasy

Related Links

http://www.filtereasy.com

FilterEasy Raises $6.9 Million in Series B Funding Led by Arsenal Venture Partners to Accelerate the Automated Delivery of HVAC Air Filters

RALEIGH, N.C.July 25, 2017 /PRNewswire/ — FilterEasy, a subscription-based HVAC air filter service, today announced it has raised $6.9 million in Series B funding, led by Arsenal Venture Partners and with participation from NC State Endowment Fund, Bonaventure Capital, Cofounders Capital, IDEA Fund Partners, John Replogle, and Triangle Angel Partners.  These investors join Azure Capital, RTP Capital Associates, and the venture arm of Michael D. Olander Jr.’s MDO Holdings, among others.

Cofounders Thad Tarkington and Kevin Barry saw a market opportunity after personally experiencing some headaches with their own HVAC air filters. Air in the home can be up to 5 times dirtier than the air outdoors, so regular filter changes are essential to healthy living, and vital to those suffering from allergies or asthma. Tarkington and Barry discovered that the majority of homeowners were simply not changing their air filters often enough, as this particular home maintenance item is out-of-sight, out-of-mind.  Changing filters on a regular schedule, when they need to be changed, extend the life of a home’s HVAC system and reduce HVAC maintenance costs.  Furthermore, changing a home’s air filters on a regular schedule reduces heating and cooling costs by up to 15% per month, cutting down on energy bills and minimizing environmental impact.  FilterEasy began offering high-quality filters in every size, delivered right to customers’ doors when it’s time to change them.  This convenient service allows people to change their filters on time, every time, without all the hassles.

Since launching the website in 2014, FilterEasy’s revenue and subscriber base have grown rapidly, with a nearly 300% gain in 2016 and they are on track for another record year in 2017.  The investors from FilterEasy’s Series B round join an enthusiastic group of savvy investors from FilterEasy’s prior investment rounds.  Completion of the Series B investment round brings total funding to $11.4 million.

The new and existing investors bring a wide pool of experience from a variety of markets to FilterEasy’s armory. Arsenal Venture Partners, the round’s lead, is a unique growth equity firm that partners with visionary entrepreneurs building exceptional businesses.  Arsenal specializes in high growth, recurring revenue companies, making them an ideal fit for FilterEasy. John Replogle is the current CEO of Seventh Generation Inc., and formerly was the CEO of Burt’s Bees and President of Guinness Bass Import Co.  Azure Capital, a Silicon Valley investment firm, has also put their funds behind powerhouse companies like BillMeLater and VMWare.  David Gardner is also an investor in both funding rounds for FilterEasy, and was the Triangle’s most active and involved angel investor, prior to founding Cofounders Capital, a free startup accelerator and early stage seed fund.

FilterEasy, founded in North Carolina, staying true to its roots included several local investors in the round.  Thad Tarkington, CEO, and Kevin Barry, COO, founded the company while attending North Carolina State University.  As the business model proved successful and the business grew rapidly, Tarkington and Barry shifted their focus from school to business. In a success story that has come full circle, NC State, became one of several collegiate investors in the Series B investment round.  The closing of FilterEasy’s Series B investment round validates the immense amount of dedication and passion devoted to the business and serves as a catapult for future expansion.

About FilterEasy
Launched in 2014, Raleigh-based FilterEasy offers consumers a subscription-based HVAC air filter fulfillment service using a proprietary web-based platform to provide a convenient solution to a common household problem – remembering when to change an HVAC air filter. FilterEasy’s subscription model guarantees that correct size HVAC air filters are conveniently delivered to a home’s doorstep so they may be changed on a regular basis, which can reduce monthly heating and cooling expenses by 5%-15%. AAF Flanders, the nation’s largest residential HVAC filter manufacturer and supplier to NASA and U.S. hospital systems, manufactures FilterEasy HVAC filters in the United States. Visit www.FilterEasy.com.

Media Contact:
Nicole Choman
FilterEasy
(919) 348-9860
nicole@filtereasy.com

SOURCE FilterEasy

How Spiffy Is Redefining the Car Wash Industry Across Three States By Focusing on Feedback

Your errands list this weekend may include a visit to the car wash to wash off the week’s dirt and leftover crumbs from an on-the-go lunch — the $10 billion car wash and auto detailing industry sees the majority of their clientele on Saturday and Sunday. But with those high-trafficked times comes the hassle of standing in lines and rushed service.

Serial entrepreneur Scot Wingo believes that most services should and will go digital, to put the customer back in control of their time versus relaying on the service provider. He’s onto something — the on-demand economy is attracting more than 22.4 million consumers and $57.6 billion in spending annually.

As CEO and co-founder of on-demand car wash Spiffy, Wingo is putting you back in control of your time (and your now-squeaky clean car) by letting you schedule a car wash on your time, at a location of your choosing. The startup recently raised a $5M Series A to expand to Los Angeles after opening flagships in Charlotte and Raleigh, NC as well as Atlanta. They also closed the acquisition of LA-based car wash app Squeegy to scale residential and commercial clientele in the area.

Ceterus Named Among South Carolina’s Best Places to Work

CHARLESTON, SC (PRWEB) JULY 17, 2017

Charleston-based accounting technology company Ceterus was named a Best Place to Work in South Carolina last month.

The company has more than doubled in size since its inaugural nomination as a Best Place to Work in 2016 and they have recently hired their 100th full-time “Ceterite.”

In the midst of rapid growth, Ceterus continues to emphasize their results-oriented culture. Ceterus CEO and Founder Levi Morehouse says, “It’s incredibly important that we maintain a passion for our customer, the small business entrepreneur, and a commitment to our core values as we grow the business.”

Ceterus opened its new headquarters in the up-and-coming North Morrison tech district in November 2016, and they recently expanded within the space. The open floor office includes standing desks for all employees, a ping pong table, and a keg system. Additionally, once fully-trained, most roles have a wide degree of flexibility to work from home — to better focus and avoid traffic.

“We love our fun, flexible work environment, however, it’s not the great office space, benefits, and perks that make Ceterus one of South Carolina’s Best Places to Work,” Morehouse said. “Our mission to empower small business entrepreneurs has been with us since day one, and this mission makes our work meaningful.”

The South Carolina Best Places to Work annual program was created by SC Biz News in partnership with the South Carolina Chamber of Commerce and Best Companies Group.

Ceterus is currently hiring for accounting, marketing, sales, and engineering positions.

About Ceterus
Ceterus, a Charleston-based technology and accounting company, empowers small business entrepreneurs with automated accounting and benchmarked reporting. Pairing Edge, its proprietary, cloud-based technology with professional accountants, Ceterus delivers a complete accounting and analytics solution for small business owners. Ceterus operates from its headquarters in Charleston, South Carolina, bringing together a growing team of top accounting and technology talent. For more information on the company and how its solutions, visit http://www.ceterus.com.

Downtown Raleigh Software Company Plans to Add 50+ Employees After Raising $25 Million

Pendo, an up-and-coming software startup that raised $20 million in venture capital funding in December, plans to expand its staff by roughly 50 percent after raising an additional $25 million from investors.

Co-founder and CEO Todd Pendo said that the company, which is headquartered in downtown Raleigh and has 106 workers, expects to add more than 50 new hires over the next six months. In addition, Pendo also will use the funding to shop for acquisitions that could accelerate its growth.

Pendo’s cloud-based technology helps business customers improve their software by providing feedback on what features their customers are using and which ones they’re ignoring It also issues pop-up messages to software users notifying them of features they may not know about.

“Our focus is helping our customers create great customer experiences,” Olsen said.

The privately held company reports that revenue from hundreds of software customers such as Citrix and Gainsight more than quadrupled last year.

Building an Emotional Connection Creates Value in Financial Services

As any executive at a financial services firm knows, organic growth is hard to come by. The underlying fundamentals in most developed markets just aren’t favorable.

Growth in population and household incomes in most markets is low. Millennials are taking their banking, borrowing and investing needs to digital alternatives, and investment firms are seeing the end of the Baby Boomers’ asset accumulation years. Outcomes tell the story – The top four U.S. banks’ consumer businesses grew revenue by 0.2% in 2015 and 0.7% in 2016.

Every year, financial services firms invest billions of dollars in marketing and customer experience improvements that do not produce significant results. Products and services are commoditized and innovations are short-lived. Cross-sell ratios are stagnant, and aggressive sales tactics and quotas are no longer a viable strategy. Institutions have no choice but to attract more customers and serve more of their needs. But how?

The key to differential growth is connecting with clients at an emotional level. Appealing to customers’ deepest emotions is far from a new idea – but big data and technology now allow what was once marketing art to become business science. To do so, customers’ emotions must be objectively defined, measured and modeled to predict the most profitable behaviors.

Raleigh’s Pendo: A Best Late Stage Tech Company In the Universe

According to the investor fueling Pendo’s $25 million Series C, announced today, the four-year-old product management software startup from Raleigh is “one of the best late stage tech companies in the universe.”

From its website, Meritech Capital Partners of Palo Alto is pretty clear about its ambitions. It’s not looking for seed deals or raising billion plus dollar funds. The fund run by six partners all with deep experience running companies or in investment banking wants only to place bets on companies it believes can have the next big technology IPO.

That means the team works fast to get its money in the right place.

So fast, that negotiations with Pendo began around the first week in June, when I shared a cab with Pendo CEO Todd Olson on our way to the 3686 South conference in Nashville.

While Olson didn’t share any specifics around his fundraising efforts, he made it pretty clear that raising capital was no problem and in fact, it’s coming in even faster than planned.

PENDO SECURES $25M SERIES C FUNDING LED BY MERITECH CAPITAL PARTNERS

RALEIGH, NC – (Marketwire – July 13, 2017) – Pendo today announced it has raised $25 million in Series C financing led by Meritech Capital Partners. The round includes additional participation from existing investors Battery Ventures, Contour Venture Partners, Core Capital Partners, IDEAFund Partners, Salesforce Ventures and Spark Capital. In addition, Meritech Capital Partners’ General Partner Rob Ward will join Pendo’s board of directors. Pendo has raised $56 million to date — $45 million in the last six months.

Pendo is a platform that helps companies deliver exceptional customer experiences in their products. In 2016, Pendo’s revenues more than quadrupled and its customer base grew to hundreds of leading software companies including Citrix, Coupa, Gainsight, Henry Schein, Infor and Optimizely. Pendo now tracks over 20 billion user actions and improves the product experience of over 22 million users every month.

The new funding will be used to scale Pendo’s engineering team as well as make strategic investments to accelerate growth. Additionally, Pendo is announcing new offices in New York and San Francisco to better serve its customer base.

“In the past decade we’ve seen software disrupt and transform industries and job roles over and over again. Today, all successful companies need to be in the software business, and all of them need to care about their product experience,” said Meritech General Partner Rob Ward. “At Meritech we seek category-defining companies, and Pendo is well on its way to becoming a market leader as evidenced by its fast growth and incredibly enthusiastic customers.”

“Our software has to serve a number of different roles in each practice,” said Bradley LaFave, Product Marketing Manager at WebPT, an electronic medical record (EMR) platform for the physical therapy industry. “As a SaaS product without contracts, we have to show value everyday to our Members to maintain our over 99% retention rate. This is where Pendo comes in. Pendo helps us truly understand and improve the experience we deliver to each of the different roles in our product. It should be an essential part of every company’s technology infrastructure.”

“Experience is no longer a nice-to-have for software products, we see an enormous opportunity to help companies improve their product experiences,” said Todd Olson, Chief Executive Officer at Pendo. “We are excited to partner with Meritech Capital Partners who will enable us to invest more aggressively and realize our potential.”

About Pendo
Pendo was founded in 2013 by former product managers that have experienced the joys and challenges of creating great products at companies like Cisco, Google, Rally, and Red Hat, among others. With a powerful analytics and guidance platform designed to help companies understand and influence how users interact with their software applications, Pendo is on a mission to improve society’s experiences with software. For more information, visit: www.pendo.io.

About Meritech Capital Partners
Meritech Capital Partners is a leading provider of growth stage venture capital to category-defining private technology companies, and has been one of the top performing venture firms of the past two decades. With over $3 billion under management, Meritech primarily leads investments into companies with proven and differentiated technology, rapidly-growing revenue and experienced management teams. Meritech investments in industry-leading companies include Alteryx, Anaplan, Box, Cloudera, Coupa, Datadog, Facebook, Fortinet, Fusion-io, Greenplum, Hybris, Looker, Mulesoft, Netezza, NetSuite, Proofpoint, PopCap, Riverbed, Roblox, Snap, Tableau and Zulily. Meritech is located in Palo Alto, CA and can be found at www.meritechcapital.com.

Salesforce Ventures
Salesforce is the fastest growing top five enterprise software company and the #1 CRM provider globally. Salesforce Ventures—the company’s corporate investment group—invests in the next generation of enterprise technology that extends the power of the Salesforce Intelligent Customer Success Platform, helping companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world’s largest cloud ecosystem and the guidance of Salesforce’s innovators and executives. With Salesforce Ventures, portfolio companies can also leverage Salesforce’s expertise in corporate philanthropy by joining Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 200 enterprise cloud startups in 14 different countries since 2009. For more information, please visit www.salesforce.com/ventures

Pendo Closes $25M Series C from Meritech to Scale its Customer Understanding Platform

Just seven months after announcing a $20 million Series B, Pendo, a platform to help businesses better understand their customers, has closed a new $25 million Series C led by Meritech Capital Partners. The North Carolina-based startup has been growing at a rapid clip — ballooning to 106 employees across offices in San Francisco, New York and Raleigh. Meritech’s Rob Ward will be joining the Pendo board of directors to help guide future acquisitions and an international expansion strategy.

Pendo is a tool that companies can use to track key customer metrics to better understand how users engage with products and services. The company is orienting itself around the rise in interest in satisfaction metrics like net promoter scores (likelihood to recommend products to others) that often are used as a proxy for projecting revenue.