Nautical Commerce, a New York-based on-demand multi-vendor platform for marketplaces, announced that it raised $30 million in Series A funding.
The round was led by Drive Capital, with participation from returning investors Accomplice Ventures and Golden Ventures.
Nautical will use the funds to further develop its multi-vendor marketplace platform, expand its reach into new markets, and grow its engineering, product, customer success, and sales and marketing teams. Nautical plans to add over 40 new team members over the next 18 months.
Masha Khusid from Drive Capital will join the Nautical board of directors.
Company: Nautical Commerce, Inc.
Raised: $30.0M
Round: Series A
Funding Month: June 2022
Lead Investors: Drive Capital
Additional Investors: Accomplice Ventures and Golden Ventures
Company Website: https://www.nauticalcommerce.com/
Software Category: Multi-Vendor platform
About the Company: Nautical is a multi-vendor marketplace platform for brands, retailers, B2B companies, and startups to launch and scale an online marketplace, with implementations as fast as 90 days, helping increase customer reach without the cost of custom software. To date, Nautical has saved its customers millions of dollars in development costs, while significantly accelerating its digital transformation time to launch. Its goal is to empower businesses to build thriving marketplaces by making marketplace technology accessible. Nautical experienced significant growth over the past six months, including a notable increase in revenue, and the addition of new customers from across the U.S., Canada, United Arab Emirates, Australia, and France spanning several industry verticals, such as fashion, health, automotive, home goods, sustainable goods, and manufacturing.
Source: https://www.nauticalcommerce.com/blog/nautical-commerce-raises-30m-to-scale-multi-vendor-marketplace-technology?