Skupos Announces New Funding from Brex Asset Management and SQN Venture Partners

Brex Asset Management and SQN Venture Partners join forces on a new $22.5M investment in Skupos, a leading data platform serving independent convenience stores, brands, and distributors. This new capital will help Skupos expand their footprint of independent convenience stores across new and existing markets.

This deal marks continued momentum for Brex Asset Management and its affiliated fund, which U.S. fintech company Brex launched in September 2021 as a way to provide companies with growth capital and to help founders take their businesses to the next level. In partnership, Brex Asset Management and SQN Venture Partners selectively provide capital to scalable, high-growth startups with strong recurring revenue in expanding sectors. “Skupos has built the largest network of independent convenience stores in the United States, and with it, a proprietary data set that is difficult to replicate. The tools and insights generated by their network give brands true visibility and granular business intelligence,” said Benjamin Wu, CEO of Brex Asset Management. “We’re excited to partner with Jake and the rest of the Skupos team through this expansion phase.”

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“SQN is thrilled to join forces with Brex Asset Management and provide Skupos with growth capital to facilitate its growth in 2023 and beyond. Jake and his team have built a peerless set of tools for convenience stores and brands to maximize customer engagement and enhance visibility into store-level data,” said Ryan McCalley, Founder & Managing Partner of SQN Venture Partners. “Skupos is the ideal matchmaker for independent convenience stores and brands, and we’re excited to be part of its journey.”

The Brex/SQN funding will help Skupos continue to scale its product suite, expand and go to market, all while maintaining the industry’s best customer success and support.

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“As Skupos continues to scale up following a year of high growth in 2022, capital partners like Brex and SQN are vital in order to capitalize on the long-term business opportunity,” said Jake Bolling, Co-Founder and CEO of Skupos Inc. “We are thrilled to continue building and scaling industry-defining products and services, and look forward to this next leg of the journey.”