Raleigh smart walkie-talkie startup Relay raises $35M from investors
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Chris Chuang, CEO of Relay. Photo: Courtesy of Relay
Relay, a Raleigh-based startup making communication tools for frontline workers, has raised $35 million from investors, CEO Chris Chuang exclusively tells Axios.
What it does: Relay makes what is essentially a smart walkie-talkie that enables managers to communicate to workers remotely. Because it is connected to the internet, it can also provide real-time location data and insights.
- The tool has proven useful in fields like hospitality, with hotel workers using them between floors, as well as in health care, education and manufacturing, Chuang said.
- Relay's device, which include smartphone app integrations, can also do real-time language translation between workers and serve as a safety alert if a team member needs immediate assistance.
State of play: Relay's Series B funding round is being led by G2 Venture Partners, a California firm that typically invests in sustainable technology for industrial companies.
What they're saying: David Mount, a partner at G2, said that his firm had spent the past two years researching Relay and came away impressed by how efficiently the company had grown its customer base.
- "Venture capitalists can sometimes be super focused on what's possible in 10 years," he told Axios. "But, as we started talking to customers, [we learned] in a lot of places Relay is replacing walkie-talkies, and walkie-talkies have not been innovated around in a long time."
- "So just being a better, less expensive and way more feature rich walkie-talkie is a massive market," he added. "And then it also provides a tool that over time we'll be able to do all this other stuff" around data collection.
What's next: The company, founded in 2015 and headquartered in North Hills, declined to share valuation or revenue numbers with the raise. But Chuang said its revenues grew by 120% in 2023.
- He told Axios the company plans to use its new money to grow its sales and marketing team and on further expansion of the capabilities of its tools.
- Relay had not yet exhausted the $13 million Series A round it raised in 2022, Chuang noted, but believes it now has enough traction to really accelerate its growth.
- Chuang said he forecasts hiring around 60 new employees this year, bringing the company's headcount above 200 people. He added the downsizing of other local tech companies has helped with hiring.