Tyson Ventures and Winrock Lead $ 500,000 Funding Round for Bentonville Tech Start-Up Rejoicy
Rejoicy, the Bentonville-based tech start-up that focuses on helping businesses sell online, has secured $ 500,000 pre-seed funding led by the venture capital arm of Springdale-based Tyson Foods , Tyson Ventures and Winrock International.
Rejoice said it will use the funding to invest in partnerships, expand its operations and continue to improve its product. The company also said that its artificial intelligence-based store builder and marketplace can help online stores operate more smoothly.
“We designed Rejoicy to enable businesses to create a complete e-commerce experience with just a few clicks by removing barriers that can slow down the process,” said Edwin Ortiz, Co-Founder and CEO of Rejoicy. “But more importantly, our platform enables businesses to connect and build their community by helping them be discovered in the market.”
Rejoicy said it would seek new customers who want to avoid expensive web development or buying a domain. The startup has developed a process for companies to create, manage and promote an online store without touching a computer through their artificial intelligence software.
Tyson said its investment arm is always on the lookout for new technologies that can transform the food industry.
“We believe Rejoicy’s platform has the potential to disrupt the e-commerce industry by simplifying the process in which companies create online storefronts to sell directly to consumers,” said Rahul Ray, director of Tyson Ventures.
Rejoicy said its platform has been proven to be successful in the industry, with thousands of orders processed during its initial pilot, as the COVID-19 pandemic created an increased need for retailers to have a simple solution. e-commerce / omnichannel. This round of funding is aimed at helping Rejoicy’s future growth as the economy returns to normal.
“Rejoicy is an innovative start-up from Arkansas, and we are proud to support its growth at this critical juncture,” said Linsley Kinkade, senior director of US programs at Winrock International. “By providing seed money to promising companies like Rejoicy, Winrock International’s validation fund is helping Arkansas job creation and economic prosperity.”