Movista Growing With $12M Infusion

by Sarah Campbell-Miller  on Monday, Nov. 5, 2018 12:00 am   2 min read

Movista co-founders April Seggebruch and Stan Zylowski

Movista Inc. of Bentonville will strengthen its leadership team, invest in innovation and next-generation technology and form a sales and marketing arm that will also be based in Bentonville — all with a recent $12 million investment from Level Equity of New York.

Level Equity is a software-focused growth specialist managing $1.65 billion in assets.

Movista sells a software system that its clients use to manage their mobile workforce.

It has about 40 clients — retailers, manufacturers and service organizations working within the retail industry — throughout North America. Most pay a monthly fee to use the system; some pay quarterly or annually.

In exchange, the firm provides “all of the key work components that you would need to understand what work is going on in the field and to execute that work in the field. Many times, we are replacing multiple software systems or applications with a single application for the user,” CEO and co-founder Stan Zylowski said. Components include GPS location, tasking, file sharing, payroll, expense reporting and ordering functions.

Movista was founded in 2010. It has known for years that an outside investor would be needed to meet its goals, which are to increase revenue fivefold and serve 1 million daily users, both within the next five years, Zylowski said. He declined to disclose the private firm’s financials but said it has seen 100 percent annual revenue growth for the past few years.

Co-founder and COO April Seggebruch added, “Ultimately, we’re working hard to grow Movista as an organization in many facets, from a product standpoint, a people standpoint, revenue, just overall enterprise value. That’s the No. 1 thing that this investment does. It allows us to do that faster than we would’ve been able to do otherwise.”

The investment will allow Movista, which has nearly 60 employees, to hire a sales leader, chief tech officer and finance head immediately, Zylowski said.

It will also help the firm stay ahead as technology changes. “We are not skating to where the puck is. We’re definitely skating to where it’s going,” he said. “We want to be ahead of that crowd, and that means looking at things like photo recognition, artificial intelligence, incorporation of metric-driven workflows, that sort of thing. What we’re trying to do is help people get more work done faster than ever before and leverage technology to do that.”

 

 

Please read our comments policy before commenting.