# Foko

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/foko

- Industry: Internet
- Headquarters: Gatineau, Canada
- Website: www.fokoretail.com
- Total disclosed funding: $2M
- Latest round: Seed (Sep 1, 2017)
- Investors on record: 3

## About

Foko Inc., based in Canada, specializes in innovative retail technology solutions that enhance customer engagement and operational efficiency for businesses in the retail sector.Founded in 2013 in Gatineau, Canada, Foko Inc. focuses on providing retail solutions. The company recently underwent an acquisition by WorkForce Software, LLC in May 2021 from BDC Capital, Canada Economic Development, Mistral Venture Partners, and Real Ventures, with undisclosed financial terms. Notably, Foko has secured a total of CAD 3.00 mn in funding, with the latest round amounting to CAD 3.00 mn from investors including BDC Capital and Canada Economic Development.Fokoretail specializes in providing innovative retail solutions designed to enhance customer engagement and streamline operational efficiency for businesses in the retail sector. Their core offerings include advanced point-of-sale systems, inventory management software, and customer relationship management tools. These products are tailored to meet the needs of a diverse client base, including both small businesses and large retail chains, allowing them to effectively manage transactions, track inventory levels, and analyze customer interactions. The solutions cater to various end users, such as retail managers, sales staff, and marketing teams, ultimately aiming to improve the shopping experience and drive sales growth. Fokoretail's products are marketed primarily in North America and Europe, where they have established a strong presence in the competitive retail technology landscape.Fokoretail generates revenue through a combination of subscription-based services and direct sales of its software products to businesses in the retail sector. Clients typically engage in annual subscriptions for their software solutions, which provide ongoing updates and customer support, thereby ensuring businesses remain competitive within the ever-evolving retail environment. In addition to subscription models, Fokoretail also engages in direct sales transactions with retail chains that purchase their flagship point-of-sale systems and inventory management software outright. Pricing structures for these products vary based on the specific needs of the client, with tailored packages designed to meet the requirements of both B2B clients and direct-to-consumer transactions. Through these diverse revenue streams, Fokoretail effectively serves its clientele while solidifying its market position.Foko Inc. plans to leverage recent funding to enhance its product offerings and expand into new geographic markets. The company is currently designing new features for its software solutions, with plans for a release in late 2022. Additionally, Foko aims to penetrate markets in Asia and South America by 2023, tapping into the growing demand for retail technology solutions. The acquisition by WorkForce Software, LLC will provide the necessary resources to support these strategic initiatives.

## Funding rounds

- Seed, Sep 1, 2017 — Mistral Venture Partners
- Seed, Dec 16, 2014, $2M — BDC Capital, Real Ventures

## Investors

- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Seed
- Real Ventures — Seed
- Mistral Venture Partners (https://capitalatlas.ai/funds/mistral-venture-partners) — Seed