Pitchly completes $2.5 million investment round

Des Moines-based Pitchly has successfully completed a $2.5 million investment round, which will be used to drive customer growth and expand product capability.

The investment was led by Next Level Ventures, with participation from Great North Labs, Twelve19 Ventures, Wellmark, and Nelnet Ventures.

“We now have the opportunity to aggressively grow our user base and deliver our next generation product to meet the diverse needs of our customers, including our traditional sectors of law and professional services and new sectors like technology,” said Ryan Gerhardy, CEO of Pitchly.

Pitchly’s raise came to a pause in March due to COVID-19, however, Gerhardy said that the process of raising during a pandemic boosted confidence in the value of Pitchly’s offering.

“We were kind of mid-raise in March when progress stopped and really what it did for us was, investor conversations shifted from the typical ‘growth at all costs’ to ‘let’s look at revenue, let’s look at customers’ which were very good for us,” said Gerhardy.

“If we back a year ago, we had the same vision but we’ve got better language to describe it now. We’re building a better infrastructure for our enterprise customers to adopt our product across their whole business. And I think that’s exciting because our goal is to really grow deeper into our customers.”

Previous coverage

Pitchly to hold Premiere Party as it expands into new sectors -Aug. 21, 2019

Pitchly & MakuSafe receive investments from Best of the Midwest meeting -Dec. 18, 2018

Pitchly completes seven-figure seed investment round -Aug. 21, 2018