Shop Circle Raises $120 Million in Series A to Build the Leading Software Suite for E-commerce Brands
Shop Circle's suite of e-commerce solutions delivers a one-stop-shop of cutting-edge technologies to online brands.
LONDON, Sept. 6, 2023 /PRNewswire/ -- Shop Circle, the one-stop-shop software provider for e-commerce brands, announced the successful completion of its Series A funding round, raising $120 million. The round was led by 645 Ventures and 3VC, with notable participation from previous backers QED Investors and NfX, with the credit facility provided by i80 Group. The funding was raised through a strategic combination of equity and debt.
Shop Circle reports a substantial 360% year-over-year growth, driven by the integration and strengthening of its extensive suite of back-end and customer-facing solutions.
"We're thrilled to announce the successful close of our Series A funding round, which will enable us to continue building and expanding our suite of e-commerce tools," says Luca Cartechini, CEO and Co-Founder of Shop Circle. "Our vision has always been to create a comprehensive operating system for e-commerce brands, providing them with the necessary technology to excel in today's competitive market."
Shop Circle is actively developing proprietary AI-driven tools and processes to enhance the scalability of their core operations across all phases.
In addition to its comprehensive platform, Shop Circle has launched a data-driven tech stack consultation program. Leveraging AI and hyper personalized data-driven insights, the company aims to optimize brands' tech stacks, reducing costs and increasing conversions to deliver exceptional customer experiences.
"Since our inception, we have embraced the AI revolution and promptly built several applications to support and automate the majority of our processes, offering a distinct advantage in operating and growing our suite of software. Our goal is to equip e-commerce entrepreneurs with the high-performance tools and expertise they need to scale business effortlessly," says Gian Maria Gramondi, Co-Founder and COO of Shop Circle. "With our tech stack review program, we are able to help e-commerce companies unlock their true potential by shedding unneeded tech and costs, enabling long-term success and growth."
The leadership team includes professionals with experience in Amazon, Shopify, Uber, and leading e-commerce brands.
"Shop Circle's vision to build a leading SaaS platform for the second wave of commerce brands aligns perfectly with our investment strategy, which is to back exceptional founders building differentiated businesses in large markets," shares Nnamdi Okike, Co-Founder and Managing Partner at 645 Ventures. "We believe that Shop Circle will be a driving force in shaping the future of e-commerce, and we are proud to support Luca, Gian Maria, and the team in their growth journey."
"We have great trust in Luca, Gian Maria, and the whole Shop Circle team, as their dedication to creating an exceptional merchant's experience matches what we look for in entrepreneurs at 3VC. We're excited to join them on their journey, expecting remarkable success in their future," adds Peter Lasinger, Partner and Founder with 3VC.
"We're thrilled to announce our partnership with Shop Circle, the software suite for e-commerce brands. At i80 Group, we're captivated by the strong growth potential and execution capabilities of the Shop Circle team in the e-commerce enablement space, which Shop Circle is playing a leading role in shaping. We look forward to supporting Shop Circle in their next phase of growth," says Peter Frank, Managing Director at i80 Group
Shop Circle takes great pride in serving already more than 100,000 e-commerce brands around the globe, cementing its commitment to empowering merchants with cutting-edge technologies and insights for unparalleled growth.
Shop Circle, a leading provider of e-commerce software, is a data and technology-driven company dedicated to revolutionizing the e-commerce industry through its comprehensive suite of cutting-edge technologies. By delivering a one-stop solution to innovative e-commerce brands, Shop Circle empowers online merchants to achieve sustainable, continuous growth. With a commitment to innovation, Shop Circle serves over 100,000 businesses worldwide. Shop Circle was founded in 2021 by entrepreneurs Luca Cartechini and Gian Maria Gramondi. For more information about Shop Circle, visit www.shopcircle.co.
645 Ventures is an early-stage VC firm partnering with exceptional founders to build iconic companies. We invest in Seed and Series A stages, using our Voyager platform and network to support scaling. Notable growth-stage firms include Iterable, Goldbelly, Resident, and more. With $550m+ AUM and strong backing from institutions, 645 operates from NY and SF. Learn more at www.645ventures.com.
3VC is a European venture capital group that invests in a carefully handpicked group of European technology startups with global ambition. Focusing on Series A, 3VC's entrepreneurial team provides tireless support and access to an international co-investment network of VC partners. 3VC's backs category-defining companies like Assaia, Kaia Health,Lokalise, Picsart, Storyblok, and Tatum. More information at https://three.vc/.
i80 Group is an investment firm designed to propel the innovation economy forward by empowering growth. The firm provides bespoke financing solutions that are unique to each investment partner's needs and are designed to help companies advance through critical growth milestones. The firm has offices in New York, San Francisco, and London. For more information, please visit www.i80group.com.
Shop Circle Media Contact
Jonny Sekula, KCPR
[email protected]
+1-415-601-5555
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