Sharing economy inspection platform, WeGoLook brings total Series A round to 3.35 million.
Oklahoma City, OK (PRWEB) October 21, 2015
WeGoLook recently closed on an additional $1.5 million financing round led by i2E, bringing the total Series A round to 3.35 million. The rapidly growing Oklahoma City-based company provides field services and inspections using a collaborative economy platform.
The additional financing round includes $149,500 each from the i2E-managed Oklahoma Seed Capital Fund and the Accelerate Oklahoma! Fund, as well as $191,636 from the i2E-managed SeedStep Angels. Other financing sources in the round included $410,364 from existing stakeholders and a $600,000 bank line of credit to support the company’s rapid expansion.
Since January, WeGoLook has increased revenue by 450%, added over 45 new staff, and expanded their Looker (agent) community to over 20,000 in the United States, Australia, Canada, and United Kingdom.
“We will use this financing round to support existing nationwide enterprise customer rollouts, enhance our platform logistics, and continue scaling operations,” said Robin Smith, WeGoLook CEO. “We have several exciting partnerships that will launch in the fourth quarter of this year that span business-to-business and consumer segments. Our strong partner and affiliate relationships are poised to accelerate growth even further. It’s an exciting time at our company and we’re not slowing down."
“WeGoLook is proud to call Oklahoma home. From the quality of life and low cost of living we enjoy, to startup investment and other tech resources from groups like i2E, this is an ideal place to start and grow an innovative company.”
The current financing round is an extension of WeGoLook’s October 2014 Series A equity investment of $1.85 million which included $650,000 from i2E, $400,000 from the SeedStep Angels, and $100,000 from West Coast Tech Angels. WeGoLook has received a total of $3.35 million in funding to date.
Accelerate Oklahoma! is an initiative that offers funds to provide critical capital and co-investment for Oklahoma entrepreneurs as a part of the federal State Small Business Credit Initiative (SSBCI) managed by i2E. The program is designed to invest in innovative startup companies that promise sustained revenue and increased employment, accelerate emerging growth businesses that show potential for bringing new products to market and increasing private capital investment.
I2E also founded the SeedStep Angels group in 2009. It has grown to be the state’s largest angel investment group with more than 50 members and chapters in Oklahoma City, Tulsa, Ardmore, and Muskogee.
The Oklahoma Seed Capital Fund is a state-appropriated investment fund through the Oklahoma Center for the Advancement of Science and Technology.
With offices in Oklahoma City and Tulsa, OK, i2E’s nationally recognized services include business expertise and funding for Oklahoma’s emerging small businesses. i2E has more than $40 million of investment capital under management.
WeGoLook is a dynamic field services and inspection company leveraging a sharing economy of 20,000+ Agents in the United States. Tasks and inspections are assigned to Agents through a crowdsourced platform. Agents collect field data, photos, and video via the WeGoLook Mobile App and complete custom tasking such as item pickup and delivery and more. WeGoLook specializes in verifying autos, properties, boats, heavy equipment, antiques, electronics, furniture, RV’s and other assets. WeGoLook has expanded to international markets in the United Kingdom, Canada, and Australia with other countries to follow.
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