# Rapid RMS

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/rapid-rms

- Industry: Software
- Headquarters: Chattanooga, US
- Website: www.rapidrms.com
- Total disclosed funding: $1.9M
- Latest round: Angel (Jun 8, 2015)
- Investors on record: 2

## About

Rapid RMS delivers innovative Point of Sale (POS) solutions designed to streamline retail operations for various industries, including convenience stores and restaurants, with an emphasis on cloud technology and operational efficiency.Founded in 2013 in Chattanooga, US, Rapid RMS specializes in providing advanced POS solutions for retailers. The company has undergone no significant business pivots and does not operate as a subsidiary of any parent company. The founder, Nirav Patel, has yet to be noted for founding other companies. Rapid RMS has raised a total of USD 1.5 mn across three funding rounds, with its latest funding being a Venture Debt round of USD 0.1 mn from Right Side Capital Management in August 2017.Rapid RMS specializes in providing advanced Point of Sale (POS) solutions tailored to meet the diverse needs of retailers across various industries, including convenience stores, petroleum, liquor, and quick-service restaurants. Their primary offering is a cloud-based, all-in-one POS system that enables businesses to manage multiple locations from a centralized platform, facilitating operational efficiency without the need for in-store servers. The solution includes feature-rich applications and an intuitive back-office system designed for peak efficiency, thereby enabling retailers to streamline operations, track inventory in real-time, and derive actionable insights through analytics. Rapid RMS serves a broad client base that spans multiple states and countries, with over 100,000 inventory items processed, thus demonstrating the adaptability of its products across different market conditions and client requirements.Rapid RMS generates revenue through a subscription-based model that encompasses various services, including its flagship POS system and payment processing solutions. Businesses engage with Rapid RMS by subscribing to their software, which allows for unlimited inventory management and multi-location oversight, essential for retailers looking to optimize their operations. The company supports both B2B and direct-to-consumer transactions, fostering long-term partnerships with clients who rely on its robust technology to enhance customer experiences and operational efficiency. Pricing plans are structured to accommodate businesses of varying sizes, ensuring that small and medium enterprises can access the necessary tools for growth while larger enterprises benefit from customizable solutions tailored to their specific operational needs.In August 2017, Rapid RMS raised USD 0.1 mn in venture debt financing from Right Side Capital Management to enhance its operational capacity and support the development of new features for their POS solutions. The company aims to expand into new geographic markets, focusing on regions with high retail activity by the end of 2023. The additional funding will also be utilized to support ongoing product enhancements, ensuring that Rapid RMS remains competitive in the evolving retail technology space.

## Funding rounds

- Angel, Jun 8, 2015, $1.5M — Chattanooga Renaissance Fund
- Seed, Mar 12, 2014, $0.3M — Blank Slate Ventures

## Investors

- Blank Slate Ventures (https://capitalatlas.ai/funds/blank-slate-ventures) — Seed
- Chattanooga Renaissance Fund (https://capitalatlas.ai/funds/chattanooga-renaissance-fund) — Angel