Swell Commerce Raises $20M To Set "A New Standard" For Ecommerce
SAN FRANCISCO, Jan. 20, 2022 /PRNewswire/ -- Swell Commerce, a leading headless commerce platform serving fast growing businesses, announced it has raised a $20M Series A funding round led by VMG Catalyst and Headline.
The global company, which aims to put an end to merchant replatforming, will use the funds to accelerate adoption and to develop an ecosystem of apps, themes, integrations and merchant solutions. Swell plans to hire across key areas, including product, engineering, design, support, sales and marketing.
Swell's native features, such as subscription management and localization, enable sophisticated use cases without requiring custom development. For merchants seeking more control, the platform's API-first architecture and customizable data models enable powerful capabilities.
"This investment is validation for us and confirms that the market sees our vision and is excited about our customers' stories," says Swell co-founder and CEO, Eric Ingram. "We are building for the future of commerce, and this funding round will allow us to scale our remote-first team so that we can better serve the needs of leading brands and ecommerce merchants."
The funding round includes participation from previous investors Bonfire Ventures and Willow Growth, and from first-time Swell investor Commerce Ventures. Other notable investors in the Series A round include Brian Long (CEO of Attentive), Romain Lapeyre (CEO of Gorgias) and Andreas Klinger (Remote First Capital and former CTO of Product Hunt). Carle Stenmark, partner at VMG Catalyst, will join the Board of Directors.
In conjunction with the Series A funding, Swell announced the hiring of Kevin McKeand as Chief Commercial Officer. McKeand has more than a decade of experience leading high performing teams across sales, business development and partnerships, including at BigCommerce where he led a team managing over 800 partnerships with companies such as Google, Amazon, PayPal, Stripe, ShipStation and many others. Most recently, he led the business development and partnership teams at Zip, a global buy now, pay later provider.
Ecommerce in 2022: "To stand out, you need to sell creatively"
In the past two years, global ecommerce growth has accelerated as retail spending has rapidly shifted away from the brick-and-mortar channel. In the third quarter of 2021, digital orders accounted for more than $1 in every $6 spent on retail purchases.
In 2022 and beyond, this trend is expected to continue as shoppers increasingly engage with brands in digital channels. Marketplace models, subscription commerce and the convergence of digital and in-store channels create unique challenges for merchants. At the forefront of these trends is a need for storefront personalization, and Swell is leading the way with customizable themes, flexible APIs and modern developer workflows.
"It's not enough nowadays to just offer ecommerce as a touchpoint. To stand out, you need to sell creatively," says Ingram.
"We've seen our customers sell state-of-the-art vacuums through B2B commerce, or sell subscription coffee beans via a fully connected IoT marketplace. We will continue to invest in many areas of the platform and know that winning over the hearts and minds of online store developers is key to realizing Swell's world-changing opportunity."
Headless ecommerce for everyone
Swell's mission is to build an ecommerce platform using headless architecture "that everyone can use."
"For me personally, regardless of our financial success, I am excited to solve this problem with the ecommerce community and to make sure that everyone can have access to a platform as powerful as Swell," says Ingram.
"Right now at Swell, we're on track to do that and that's the most exciting thing."
For more information about Swell please visit Swell.is.
MEDIA CONTACT:
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About Swell
Swell is a leading commerce platform giving developers, agencies, and merchants around the world the tools and infrastructure needed to sell the way they want. From new startups to large enterprises, Swell's customizable backend enables the creation of innovative shopping experiences today, while offering unmatched flexibility that allows merchants to scale tomorrow.
About VMG
VMG Partners is focused on partnering with entrepreneurs and managers to support the growth and strategic development of leading branded consumer product and technology companies. VMG currently invests through its Growth and Catalyst funds. Since its inception in 2005, VMG has provided financial resources and strategic guidance to drive growth and value creation in over 65 companies.
About Headline
Headline is a global venture capital firm that uses its own technology and international team to discover – and invest in – the world's boldest outliers. With $2B of assets under management, Headline is composed of a network of four regionally-focused early stage funds in the US, Europe, Brazil, and Asia and a Global Venture Growth fund that invests worldwide. Since its founding in 1999, Headline has proudly worked alongside Founders from Jacksonville to São Paulo, from marketplaces to SaaS. Its portfolio includes Acorns, AppFolio, Bumble, Cameo, Farfetch, Gopuff, The RealReal, Segment, Sonos, Sorare and Yeahka, among others. Learn more at Headline.com and https://twitter.com/HeadlineVC
SOURCE Swell
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