Relay Bags $36M in Funding Led by International Paper

Relay, a Raleigh, NC-based provider of a system of action platform for physical operations, has secured $36 million in a funding round led by International Paper, bringing the total amount to $90 million.

The round also saw participation from Cerity Partners, Harmonic Growth Partners, Thayer Investment Partners, G2 Venture Partners, and Wind River Ventures.

The company plans to use the funding to expand its software and AI capabilities, worker safety solutions, enterprise integrations, frontline hardware, and presence in industrial and hospitality markets.

What is Relay?

Relay provides a technology platform designed for frontline workers in physical operations.

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Its system combines cloud communications, AI, real-time translation, location awareness, and automated workflows with purpose-built hardware. Workers can communicate using a radio-style device while Relay captures operational information and connects it with the software systems businesses already use.

The platform is designed for industries where workers operate on production floors, maintain equipment, clean hotel rooms, care for patients, or manage other physical operations.

How Much Funding Has Relay Secured?

Relay has secured $90 million in total funding following its latest $36 million round.

The latest funding round was led by International Paper, with participation from Cerity Partners, Harmonic Growth Partners, Thayer Investment Partners, G2 Venture Partners, and Wind River Ventures.

Who Invested in Relay’s Funding Round?

International Paper led the $36 million funding round.

Other participating investors included Cerity Partners, Harmonic Growth Partners, Thayer Investment Partners, G2 Venture Partners, and Wind River Ventures.

Why the Funding Matters

Relay will use the funding to accelerate development of its software and AI platform, including its insights and agentic capabilities.

The company also plans to invest in worker safety solutions, enterprise system integrations, next-generation frontline hardware, and expansion across industrial and hospitality markets.

The funding will also support continued hiring across Relay's product and go-to-market teams.

Who founded Relay?

Relay was founded by Jim Mulcahy and Chris Chuang.

The company is headquartered in Raleigh, North Carolina.

"What makes this round special isn't simply the capital being raised – it's the alignment with leaders from the industries we serve on how Relay can help them digitally transform their physical operations," said Chris Chuang, CEO and Co-Founder of Relay.

"We run complex and demanding industrial operations, where strong communications isn't a nice-to-have – it's foundational," said Keith Townsend, Group Vice President, Packaging Solutions North America, International Paper. "Relay has proven it can deliver clear, dependable communications in extremely loud and challenging industrial environments.

Market and Business Growth

Relay serves hundreds of thousands of frontline workers and works with approximately 10% of the Fortune 500.

Several of its enterprise customers have more than 10,000 users on the platform.

Relay reports 99% gross revenue retention and 130% net revenue retention among its enterprise customers.

The platform also supports communication in 35 languages.

What Happens Next?

Relay plans to expand its AI and software capabilities while developing new safety solutions, enterprise integrations, and frontline hardware.

The company will also expand across industrial and hospitality markets and continue hiring across its product and go-to-market teams.

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