What Oakscale’s $1.2 Million Seed Funding Round Means for Technology and the Franchising Industry

Oakscale, the NYC-based, tech-driven franchise development company connecting exceptional franchise brands with passionate entrepreneurs, today announced a $1.2 million seed funding round led by angel investors Brett Barna, Timothy Tully, Pen King Jr. (Innovating Capital) and Robert Huntington with participation from Horsman Holdings and Liveris Family Office (of former Dow Chemical Chairman and CEO Andrew Liveris), as well as other technology and franchise industry investors.

While some may argue the franchising industry is behind the times when it comes to technology, Oakscale’s approach has won over many brands, industry veterans and investors alike through a modern understanding of how brands must be marketed and sold today—that is, digitally. Oakscale combines this with a personal appreciation and respect for the mindset of a potential franchisee and why they should, or should not, choose a particular franchise. 

Oakscale was incubated by Metric Collective, one of the largest technology and digital marketing companies in the franchise development space, to create an unmatched digital system to promote brands, attract and screen prospective franchisees and ultimately acquire quality franchisees far more efficiently than a brand could on their own.

Some of these leading technological tools utilized by Oakscale include FranFunnel, the franchising industry’s premier messaging app, which allows franchisors to more effectively communicate with potential franchise candidates over text. Oakscale has also employed VR for virtual franchise tours, as well as automated messaging to keep up with the needs of buyers.

“Franchise sales is a very old and very sleepy profession,” Oakscale CEO Joshua Kovacs told KnowTechie. “The tools and strategies out there today are antiquated. The new franchisee wants a tech-enabled buying process, and we’re going to give it to them.”

Recently, Oakscale partnered with Xpresso Delight, one of the world’s largest and fastest-growing coffee service franchise brands with over 200 franchises sold in Australia and New Zealand, to serve as Xpresso Delight’s exclusive franchise development partner for all U.S. expansion. 

As many franchisors continue to develop consumer-facing technology, the need for a tech-driven franchise development process is proving to be just as essential. Oakscale’s new seed funding round could be a prime example of what is to come in this regard.