Artificial Intelligence
Rundoo raises $30m for AI supply store software
Rundoo said it closed a $30 million Series B led by Battery Ventures, with Bessemer Venture Partners and CRV also participating, and planned to use the money for hiring, product work and sales expansion.
- Rundoo Inc. said it had closed a $30 million Series B, taking total funding to $48 million.
- Battery Ventures led the round, and Bessemer Venture Partners and CRV also participated.
- Rundoo said it had more than 500 independent store customers across the US, Canada and the Caribbean.
- The company said it would use the money to expand engineering, add features and grow its go-to-market team from Chicago.
Rundoo Inc. said it had closed a $30 million Series B round, taking its total funding to $48 million. Battery Ventures led the round, while Bessemer Venture Partners and CRV also joined in.
The company said its products linked point of sale, customer management, online selling, accounting and loyalty functions through Dooey, an AI assistant. Rundoo said the tool could use store data and other local information to help owners plan orders and suggest promotions.
Nick Hershey and Andrew Beckman started Rundoo in 2021, and the company said it now served more than 500 independent stores in the US, Canada and the Caribbean. Hershey said the business was meant to help small stores cope with competition and wider economic pressure, while Michael Brown of Battery Ventures said many still used old software.
Rundoo said it worked with Benjamin Moore & Co. by connecting to its tint software, which it said helped retailers match paint colours. At Berry’s Hardware in Dumas, Arkansas, Brandon Berry said Dooey had become the business partner he relied on most for the store’s daily review of sales, returns and margins.
Rundoo said it would use the new capital to hire more engineers, add features and expand sales staff from its Chicago office.
Named in this story
People
- Nick Hershey
- co-founded Rundoo and serves as chief executive
- Andrew Beckman
- co-founded Rundoo with Hershey
- Brandon Berry
- owns Berry’s Hardware and praised Dooey
- Michael Brown
- is a Battery Ventures partner who commented on the market
Companies
- Rundoo Inc.
- said it closed a $30 million Series B and sells software to independent supply stores
- Battery Ventures
- led the funding round
- Bessemer Venture Partners
- took part in the round as an existing backer
- CRV
- took part in the round as an existing backer
- Walmart
- was named as one of the larger rivals Rundoo’s customers compete with
- Target
- was named as one of the larger rivals Rundoo’s customers compete with
- Benjamin Moore & Co.
- worked with Rundoo through a connection to its tint software
- Berry’s Hardware
- used Rundoo’s software in Dumas, Arkansas
Organisations
- Stanford University
- was the university Hershey attended
Products and systems
- Dooey
- Rundoo’s AI assistant product
Places
- Chicago
- is Rundoo’s main office location
- Dumas, Arkansas
- is where Berry’s Hardware is based
How the source tells it
The piece read as a promotional funding announcement, with founder and investor claims carrying most of the emotional force.
- vendor boosterism the product was repeatedly presented as giving small customers capabilities associated with larger firms
- underdog framing independent stores were set against Walmart and Target as businesses needing help to keep up
- pressure and urgency competition and macroeconomic strains were used to suggest the funding was needed now