Reno, NV – November 29, 2018 – Rehearsal, the leading video-based sales enablement and coaching platform, announced today that it has completed a $2 million round in funding from Cypress Growth Capital. The funding will be used to aggressively expand its global sales and marketing efforts as well as broaden and accelerate product development.
“Rehearsal’s offering is well-timed with the rapidly increasing demand for solutions that extend far beyond the reach of traditional learning management systems. The path forward is clear and we know precisely which levers to pull in order to supercharge our growth into 2019 and beyond,” said Darik Volpa, founder of Rehearsal.
“Rehearsal offers a high-ROI and practical solution for a host of training needs, especially sales training and enablement,” said Vik Thapar, Partner with Cypress Growth Capital. “Results are tangible and measurable. It’s a modern tool that fosters sales performance, collaboration and motivation.”
This financing round builds on an exceptional year for Rehearsal which saw a rapidly growing roster of clients, key executive appointments, and market momentum in the white-hot areas of training and development.
2018 Rehearsal Highlights to Date:
- 43 new customer logos
- 79% increase in users
- 3 new product releases including a brand-new user and admin interfaces
- An ROI study conducted by Edmunds revealed a 102% increase in sales after implementing Rehearsal
- 97% Customer Satisfaction Score
Launched in 2015, Rehearsal has amassed a broad and diverse customer base that is comprised of both start-ups and some of the largest companies in the world, including 15% of Fortune 100 companies. “The market is flooded with e-learning products that do little to develop skills and change behavior. Rehearsal delivers a truly actionable and scalable solution, leveraging the power of video-based practice and coaching to help businesses drive growth and accelerate success,” said Volpa.
Rehearsal is a video-based practice platform that allows people to practice their selling and communication skills, receive coaching, and collaborate with others anytime, anywhere, and on any device. With over 100,000 users world-wide, Rehearsal has helped organizations develop better leaders and increase sales by more than 70%. Learn more at http://www.rehearsal.com
About Cypress Growth Capital
For an entrepreneur considering growth funding, Cypress Growth Capital provides a completely different alternative to equity and traditional debt. Our firm invests up to $5,000,000 in emerging companies using a royalty-based approach that preserves an entrepreneur’s equity and control. Drawing on a proven track record of royalty-based investments in more than thirty software and technology-focused companies since 2010, Cypress provides a flexible, patient form of capital that is well suited to the unique financing needs of young, growing companies. Our partners have extensive operating experience providing useful, practical assistance… if, and when, you need it. With more than $100,000,000 of capital under management, Cypress is the largest and most active royalty-based growth capital investor in the U.S. Learn more at http://www.cypressgrowthcapital.com