Legal Name: Recapped, Inc
Location: New York City, New York
Website: recapped.io Social Media: 29 Followers on Twitter
Industry – Software as a Service Market
Size: $60.63B (Source: Bloomberg)
Projections: $119B by 2022 (Source: marketwatch.com)
Recapped is a biparty project management tool that helps enterprise sales teams manage and track their complete sales cycle and its related communication through a single interface. With its very light-weight version for clients, it enables the teams to communicate with multiple stakeholders at once and thereby claims to significantly reduce the closing time of deals. Recapped also helps teams manage pre-closure pilots better and onboard customers quickly post closures.
Recapped has identified the essential aspects of both proposal management and project management phases of the enterprise sales cycle and combined them into a simple to use SaaS solution. From the first contact that sales reps make with a prospect to finally onboarding them as clients, Recapped can be used to not only maintain every communication they have but also its related documents and action points.
Recapped allows sales teams to create reusable templates for making professional proposals, thereby saving them repeat admin work every week. In terms of collaboration, teams can create action points, assign tasks and chat with everyone involved in real-time. One of the main USPs of the platform is that clients do not need a Recapped account to interact with the proposals shared with them. To catalyze the shift from the current process and platforms, Recapped also integrates with a number of existing tools used like Dropbox, Google Drive, DocuSign, Salesforce, Hubspot and more. In its future roadmap, Recapped also plans to integrate electronic signatures to enable e-signing of proposals and payment platforms like Stripe to enable deal closures, thereby making Recapped a one-stop solution for managing and closing deals.
Origin & Founding Team
In November 2017, Mark Fershteyn started Recapped to fulfill his own need for a tool to ease the management of complex enterprise sales. After graduating from the University of North Carolina, Mark went on to acquire a very strong experience in sales at companies like Citrix and App Academy. While leading Enterprise sales teams there, Mark felt the compelling need for a solution to help sales teams track and manage their deals better. Mark identified that there were existing tools that helped in specific tasks like proposal management and lead generation, but nothing to manage the entire cycle in one place and with the current process, teams had all their information and communication split in multiple tools and a dozen follow up emails. Mark strongly believes that this scattered nature of communication and lack of collaboration led to the loss of many deals and with Recapped, he aims to solve this very problem.
In July 2018, Ujjwal Battar joined Recapped as its CTO and Co-founder. Before Recapped, Mark and Ujjwal had also previously worked together at App Academy. Ujjwal obtained his Bachelor’s degree in Science and Business Administration from the San Jose State University, post which he pursued a course in Computer Science from App Academy and ventured into the domain of technology startups.
Performance & Trends
Recapped has been selected in the 2019 summer cohort of NYC’s leading tech accelerator – ERA (Entrepreneurs Roundtable Accelerator) and has received an initial investment of $100,000 as a part of this program. As on May 2019, the company had 1500 customers, the majority of whom were acquired through a life-time deal they made with Appsumo.
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