DFX Intelligence

Relay, Inc.

Venture-backed company · Stage unknown· Raleigh, NCrelaycommerce.io

Relay Commerce operates & acquires exceptional ecommerce SaaS companies. We buy businesses that are ready to scale and pair them with our world-class operating team to accelerate growth.

As of 2026-10-01 · the latest observation of this company; each round carries its own date

Rounds on record: 3
Latest round: Sep 30, 2026
Latest round size: $36.0M

Form D industry: Other Technology

Ask DFX about this View relationships Financing history Investors Ownership and outcomes

As of 2026-10-01 · the latest observation of this company; each round carries its own date

2 additional officers and directors, 1 additional investor

Every relationship, signal and contact on this record, with the source on each.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

What matters now

$36M
announced
Announced a $36M round on 30 Sep 2026.
A company that just raised has fresh capital, a new board and new vendors to choose.
FactPress release wires (PR Newswire, GlobeNewswire)For Investors, lenders, service providersFinancing history →
4 investors
named
4 investors on record; International Paper led a round.
The investors already on the cap table shape who leads the next round.
Factfunding announcements, portfolio pages and Form DFor Investors, foundersInvestors →
4 directors
board
4 directors on record from Form D filings and board-seat attributions.
The board is who decides on the next round and on a sale.
FactSEC Form D related personsFor Investors, acquirersPeople →

Relationship network

12 connected entities3 observed investment records1 dated investment record shown here, 2026

From announced rounds, SEC Form D filings (investors, directors, officers and placement agents) and investors' own portfolio pages.

Some relationships on this record are counted rather than named here. They open with the full profile.

Click any name or line for the investment records and sources behind it. Line weight is investment records together; dashed lines are inferred.

Reading the network

Person
Capital provider

Venture relationships are not scored. Each line names its claim: a round led or joined, a board seat or a filing that names the firm, a listing on a portfolio page (dated by when DFX saw it, never by when the investment was made), a disclosed LP commitment, or a co-investor pair counted from observed participations. Observed means a named source says so; Derived means DFX counted it from observed rows; Inferred means a match that may be wrong.

Darker lines were active in the last 24 months or are current; lighter lines are older or undated.

Ask DFX about this network

Who are the investors and board members of Relay, Inc.?

Drawing the relationship network…

Facts

Year of incorporation: unknown
Revenue range (Form D): Decline to Disclosesec.gov
Rounds on record: 3
Disclosed raised: $86.0Msum of rounds with a disclosed amount only
Named investors: 4

Financing history

3 rounds

Sep 30, 2026
Funding round · $36.0M (disclosed)
International Paper (lead)Harmonic Growth Partners, LLC (participant)
Fact Press release · “Relay Raises $36 Million in New Funding from Industry Leaders to Drive Frontline Safety, Productivity, and Operational Intelligence”
May 19, 2026
Funding round · $50.0M (disclosed)
Fact Press release · “Relay Secures $50 Million in Financing to Build the Small Business Financial Command Center”
May 22, 2024
Form D equity offering · $42.1M (form d sold) · 16 investors
Fact Form D · “Relay, Inc. filed Form D: $42,060,525 sold of $42,060,525, Other Technology”

Investors on record

4 edges

Alleycorp Advisers, LLC portfolio listing Fact alleycorp.com
Harmonic Growth Partners, LLC round, participant Fact prnewswire.com
International Paper round, lead Fact prnewswire.com

Ownership and outcomes

none on record

No later owner or exit on record: no private equity sponsor position and no acquisition, listing or IPO report names this company.

Credit relationships

none on record

No lender position matched to this company.

People

4 officers, 4 directors

Chris Chuang CEO and Co-Founder prnewswire.com
Christopher Chuang Executive Officer/Director sec.gov
JIM Mulcahy Executive Officer sec.gov
John Murdock Director Fact
David Morken Director Fact

Show all 6 officers and directors

Chris Chuang CEO and Co-Founder prnewswire.com
Christopher Chuang Executive Officer/Director sec.gov
JIM Mulcahy Executive Officer sec.gov
John Murdock Director Fact
David Morken Director Fact
Brian Bailey Director Fact

Timeline

4 events

seen on or beforeOct 1, 2026
Relay, Inc. no longer listed on Service Provider Capital's portfolio page
Removed from portfolio page Inference Firm website
Sep 30, 2026
Relay announced Funding round of $36,000,000, led by International Paper
Round announced Fact Press release
May 19, 2026
Relay announced Funding round of $50,000,000
Round announced Fact Press release
May 5, 2026
Relay, Inc. filed Form D: $42,060,525 sold of $42,060,525, Other Technology
Form D filed Fact Form D

Evidence

24 observations

Every observation on this company

Description: Sep 12, 2026 Fact Company website
Entity type: Corporation May 5, 2026 Fact Form D
Form D industry group: Other Technology May 5, 2026 Fact Form D
Amendment: false May 5, 2026 Fact Form D
Revenue range (Form D): Decline to Disclose May 5, 2026 Fact Form D
Incorporated: overFiveYears May 5, 2026 Fact Form D
Jurisdiction: Delaware May 5, 2026 Fact Form D
Amount sold (Form D): $42.1M May 5, 2026 Fact Form D
Offering amount (Form D): $42.1M May 5, 2026 Fact Form D
Exemptions: 06b May 5, 2026 Fact Form D
First sale: 2024-05-22 May 5, 2026 Fact Form D
Investors (Form D): 16 May 5, 2026 Fact Form D
Minimum investment (Form D): 0 May 5, 2026 Fact Form D
Securities offered: equity May 5, 2026 Fact Form D
Office address: May 5, 2026 Fact Form D
Listed on portfolio page: Sep 30, 2026 Fact no URL
Listed on portfolio page: Alleycorp Advisers, LLC Sep 30, 2026 Fact Firm website
Listed on portfolio page: Alleycorp Advisers, LLC Sep 16, 2026 Fact Firm website
Listed on portfolio page: Sep 16, 2026 Fact no URL
Listed on portfolio page: Alleycorp Advisers, LLC Sep 15, 2026 Fact Firm website
Listed on portfolio page: Sep 12, 2026 Fact no URL
Round announced: Funding round $36,000,000 Sep 30, 2026 Fact Press release
Round announced: Funding round $50,000,000 May 19, 2026 Fact Press release
Site title: Sep 12, 2026 Fact Company website

Investors it fits

25 scored matches, best firstas of 2026-10-01

score 49.6confidence 100%
Why: sector fit; activity; analogous; cap table
Watch: adjacent portfolio
score 49.6confidence 100%
Why: sector fit; activity; analogous; cap table
Watch: adjacent portfolio
score 49.5confidence 100%
Why: sector fit; geography fit; activity; analogous
Watch: adjacent portfolio

+22 more investors it fits

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Scored by DFX match engines from the record's observed portfolio, stage, geography and recent activity. A fit is a reason to look, not a mandate; the blockers say what the model could not confirm. Names and the evidence sentences show with the names on this page.

Record history

8 identity changes, 4 dated events on the change ledger, latest event first

Listing repointed
2026-10-01source on record
Listing repointed
2026-10-01source on record
Identifier moved
2026-10-01

+9 more changes on this record's ledger

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.