(Portland, Oregon) — Rock Paper Coin, a software firm that simplifies the billing process for both wedding businesses and their clients, has locked an additional $1.625M from investors as it looks to expand on its organic growth amidst an industry rebound.
“There’s no denying that 2020 was a challenging year for the special events industry as a whole,” shares co-founder Nora Sheils. “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.”
Rock Paper Coin, founded in 2019 by sisters-in-law Nora and Elizabeth Sheils, is a B2B software solution that solves digital contract, invoice, and workflow management needs for the wedding industry – allowing vendors such as florists, caterers, or photographers, to offer clients digital invoicing and payment options without the costly and difficult process of setting up proprietary systems. Rock Paper Coin is the only software solution for the industry that allows collaboration between all members of an event team, including couples, vendors, and planners.
“Working with RPC has been a dream from day one,” said Ashley Lachney, Alston Mayger Events. 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.”
The Sheils, who have a combined total of 31 years of experience in the wedding industry and run wedding planning firm Bridal Bliss, have applied their deep knowledge of the planning process – and the pains – into every step of their software development.
“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,” explains co-founder Elizabeth Sheils. “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.”
Since its launch 15 months ago, Rock Paper Coin has seen a sizable uptick in sign-ups from event professionals as the industry embraces technology as a necessary solution for the growth of their businesses and the industry at-large. Rock Paper Coin, just two weeks out of beta, has seen widespread adoption as the industry looks for solutions to digitize processes. Currently active with over 900 customers in 48 states, and a global waitlist of 49 businesses, the company expects to gain significant market share in the next year and is working toward the addition of a full-service marketplace providing business services for event professionals.
“We are thrilled to hit this major milestone and look forward to taking the next steps to fully bring our vision to life,” Nora Sheils says, adding that registrations are at an all-time high. “We are so grateful for our investors and their shared belief in our brand’s mission and purpose.”
Investors include leading venture firm, XYZ, Oregon-based Cascade Seed Fund, investor and Houston Dynamo owner, Jake Silverstein of Stormlight Holdings, Ascend.VC, Ashe Partners, Momentum Investments and a private angel.
About Rock Paper Coin
Rock Paper Coin is the first software platform to bring together wedding planners, couples, and vendors into one system for managing and paying contracts and invoices. It was created by event industry veterans—Nora and Elizabeth Sheils—for event professionals as an easy way to collaborate and organize the planning process for event teams everywhere.