CommerceBear, a Toronto, Canada-based modern selling platform that helps furniture makers to grow their revenue, raised $14 million in Seed funding to help furniture makers grow their business.
The round was led by Inovia Capital, with participation from Spider Capital, Watchfire Ventures, Garage Capital, WIN, Operator Ventures, and FJ Labs.
Several angel investors also joined, including (Burrow CEO) Stephen Kuhl, (Lightspeed President) JD St-Martin, and executives with experience at Stripe, Shopify, Airbnb, PayPal, WhatsApp, Dwelling, Humi, #paid, and Uber.
With this investment, CommerceBear will continue to develop its platform, add new categories, and expand integrations with more places for furniture makers to sell.
“Everything we do is designed specifically to meet the unique needs of our customers in the furniture industry,” said Sam Vlessing, CEO of CommerceBear. “With the support of Inovia Capital - and our other investors - we’ll continue to build the platform that is most valuable for our customers.”
This fundraising also follows becoming a Wayfair Marketplace Partner, cementing us as a trusted solution for the more than 20,000 suppliers on Wayfair today.
Company: Commercebear, Inc.
Raised: $14.0M
Round: Seed Round
Funding Month: December 2022
Lead Investors: Inovia Capital
Additional Investors: Spider Capital, Watchfire Ventures, Garage Capital, WIN, Operator Ventures, FJ Labs, Stephen Kuhl, and JD St-Martin
Company Website: https://www.commercebear.com/
Software Category: Selling Platform
About the Company: CommerceBear is a multichannel ecommerce enablement platform that makes it easy for home goods manufacturers and wholesalers to sell online. CommerceBear is building the platform of record for furniture makers, first helping them move their products online, then partnering to scale and manage their end-to-end ecommerce. Born on the factory floor by a 4th generation industry veteran, the CommerceBear platform is designed specifically for furniture, believe that a modern furniture-first platform will be critical for all manufacturers in the months and years ahead. Its customers include top 100 companies, SMBs, and family-owned businesses.
Source: https://www.commercebear.com/post/funding-round