Replika Software, the turnkey social selling solution, has completed its Series A financing round with LVMH Luxury Ventures and L’Oréal BOLD (Business Opportunities for L’Oréal Development), both investment arms of their parent companies.

WHO: Replika Software is a turnkey social selling platform that enables brands to activate at scale their network of social sellers to sell online, inspire on social media, and connect with consumers anytime, anywhere. Founded in 2016 by Kareen Mallet, former Fashion Director at Neiman Marcus and Bergdorf Goodman, and Corey Gottlieb, advertising, marketing, and tech entrepreneur, the company is based in New York and has offices in Paris.

WHY: The funding will enable Replika to aggressively expand its global footprint of brands and industries which can significantly benefit from creating new social selling channels. With this financing, the company plans to continue investing in its technology, introduce new breakthrough features, and add to its team to support the rapid adoption of the platform.

IN THEIR OWN WORDS: Kareen Mallet, co-founder of Replika Software, said, “When we founded Replika, we envisioned a future where every brand would be able to benefit from the power of social selling. After concluding commercial arrangements with several Maisons of LVMH and brands of L’Oréal, it is tremendously satisfying to see that the investment arms of two of the world’s most forward-thinking companies have decided to invest in our vision. We’re thrilled to have their support as we enter this phase of growth and lead the industry towards humanizing online shopping.”

“The Series A financing builds on an exceptional year for Replika. We were able to rapidly grow a roster of clients across several verticals, introduced important programming and feature upgrades while solidifying our management team with key executive appointments. We believe this funding will help us shift the current online selling paradigm, not only in the fashion and beauty industries, but in the broader healthcare, entertainment, travel, and electronics industries as well,” said Corey Gottlieb, co-founder.

DETAILS:

• Replika Software completed its Series A financing round with LVMH Luxury Ventures and L’Oréal BOLD, both investment arms of their parent companies.
• Replika’s relationship with LVMH started in 2019 when the group discovered and selected the solution to be highlighted at the Vivatech Innovation Awards. The company was then invited to participate in LVMH’s accelerator “La Maison des Startups” at Station F, and their business relationship has continued to expand ever since, with deployments in both Europe and the US.
• The journey with L’Oréal began when their Chief Digital Officer, Lubomira Rochet, a true advocate of social commerce, identified Replika out of over 1,000 start-ups exhibiting at Vivatech, and she has continued to pave the way within the organization for brand deployments across all divisions, in countries around the world.
• Representatives from LVMH Luxury Ventures and L’Oréal BOLD will be a part of Replika’s Board of Directors.
• In December 2020, L’Oréal made a minority investment in Replika Software through its corporate venture capital fund BOLD Business Opportunities for L’Oréal Development.