Rock Paper Coin Locks Down Additional $1.625 Million for Growth
Rock Paper Coin (RPC), a software company streamlining the wedding and event planning process, announced this week that they secured an additional $1.625 million in investments for expansion on the brink of an industry rebound.
Founded by sisters-in-law and wedding planners Nora and Elizabeth Sheils, the company aims to centralize the wedding planning process with innovative technology. Their RPC software streamlines the communication and workflow between wedding vendors, planners, and couples with contracts and invoices for various vendors all housed in one place.
“There’s no denying that 2020 was a challenging year for the special events industry as a whole,” Nora Sheils said in a statement. “The growth of Rock Paper Coin, however, has demonstrated that industry professionals are as committed as ever to the future of events and solutions that will improve what have traditionally been cumbersome processes for all involved. As restrictions begin to ease and we see more events and much-needed celebrations returning to our lives, we look forward to empowering companies with the tools they need to meet the digital demands of their customers.”
After 31 years in the industry, the duo worked based on experience as planners to perfect their software and cater it to industry needs. Since launching at the end of 2019, the company has processed over $1.8 million in transactions and continues to see an increase in sign-ups from industry professionals.
“As Nora and I were planning wedding after wedding, we kept asking each other why there wasn’t a tool that could support the automated processes that we so badly needed,” co-founder Elizabeth Sheils said in a statement. “One thing led to another and we thought, ‘let’s create it ourselves!’ As we’ve developed Rock Paper Coin, we’ve seen such a positive response. The wedding industry is a traditional one – many vendors still send out paper invoices, manage billing through check and or are unable to offer the digital payment options that their clients want. We’re thrilled to be able to fill that gap in a way that is cost-effective for these small businesses.”
The RPC team said they are eventually working toward adding a full-service marketplace that aims to provide business resources for event professionals. With a growing following of event professionals, the company is expected to see significant gains in market share this year.
“Working with RPC has been a dream from day one,” Ashley Lachney of Alston Mayger Events said in a statement. “The ability to streamline contracts, collaborate with a client's vendor team, and process client payments in one SAFE place has saved me time, provided a great (and credible!) client experience, and absolutely revolutionized how I manage these processes."
Investors for Rock Paper Coin include the venture firm, XYZ, the Cascade Seed Fund based in Oregon, Jake Silverstein of Stormlight Holdings, Ashe Partners, Ascend.VC, Momentum Investments, and a private donor.