DEAL OF THE DAY: REPLICON, $2M

Replicon CEO John Eddy is, to coin a phrase, an anti-spin-ite. He holds views that are anathema to the high-tech PR establishment. “I don’t use the words B2B and ASP to describe my business,” he says. Instead he concerns himself with asking questions like: “What are a business’ migraine headaches?” and finding cost-saving answers.

Mr. Eddy reckons that simple everyday processes like time sheet management and expense reports cause major problems. So Replicon’s founders went about building two Web-based applications to relieve the stress on businesses and optimize workforce productivity.

The Calgary-based company (https://www.replicon.com/) made its first sale in 1998 and has since brought in another 299 customers, including HP, Lucent Technologies, and Kraft. The software is sold through a traditional licensing model or through an ASP-type model.

The company pulled $540,139 in revenue last year and, until now, Replicon has built and financed its business on internal cash flow. This first round of outside investment was brought in by Mr. Eddy to finance marketing and sales initiatives in the U.S. VCs might find his philosophy on fund raising equally heterodox: he prefers angel investment to institutional venture capital because it has “no strings attached.” “I just want enough money to get the fire going,” Mr. Eddy says. “When you’re sitting on $100 million you have to worry about how to spend the money.” Replicon will be profitable by second quarter next year, he says.

INVESTORS: BDCVenture Capital ($500K, lead); Private investors

SOURCE: Red Herring

Get started today.
Set up a free trial based on your business needs. Start Free Trial

Global Compliance Desk – Karnataka, India

India: Karnataka Government Permits Shops To Remain Open 24/7  On January 2, 2021, the Government of Karnataka issued a notification that allows all shops and commercial establishments in Karnataka, having…Read More

Want Real Solutions That Help You Manage Expense Tracking in Real-Time? We’ve Got Them.

A comprehensive expense tracker can provide your organization with clear insights into how corporate time and dollars are being spent and help you identify unnecessary costs, strains, time-wasting activities, and…Read More

Project Leaders: Here Are 3 Signs Your Remote Project Managers Are Overwhelmed with Technology

Overwhelmed project managers. They are not hard to find. And if you look closely, you’ll probably find a few right within your organization. As it is, project management is stressful…Read More

Seven critical ways to achieve global project success

There was once a time when managing a project at work was fairly straightforward. Everyone was in the same location, or at most a mere phone call away. You’d set…Read More

Time and Attendance Orientation Guide

In a growing business, the day will eventually come when managing time and attendance on paper becomes both inefficient and risky, especially when trying to balance things like overtime, paid…Read More

Using shared services? These five technologies are a must

As organizations continue to scrutinize operating costs and look for areas to drive efficiencies, shared services centers (SSCs) are a no-brainer. The concept of a multi-function SSC has been around…Read More
  • Polaris
  • Time & Project Insights
  • Time & Projects Solutions
  • Replicon Products
  • Replicon Users
  • Cloud
  • Corporate
  • Professional Services Management
  • Shared Services Management
  • Time and Attendance Management
  • Customer Feature
  • Time Intelligence
  • Industry News
  • Global Compliance Updates