Threecolts, a London, UK-based startup that builds software for brands and retailers to manage their Amazon sales channel, announced that it raised $90 million in Series A funding.
The round was led by Crossbeam Venture Partners and General Global Capital, with participation from Stratos and CoVenture.
Threecolts claims to be profitable and revealed that revenues have grown 6 times year-over-year. It has completed 14 acquisitions since its inception.
The startup platform assists vendors in competing on the sales platforms of Amazon, Walmart, and eBay and creates a level playing field for brands and small companies because the sales tools on these platforms fundamentally favor their sales.
Threecolts, started by an ex-Amazon executive that creates software for brands and retailers to manage their Amazon sales channel, has had 22,000 customers since its inception in 2021.
According to Threecolts, its 22,000 customers jointly produce more than $30B in total merchandise sales, have increased earnings by $200M, and have seen a 200% increase in detail page conversions.
Company: Three Colts Group, Inc.
Raised: $90.0M
Round: Series A
Funding Month: March 2023
Lead Investors: Crossbeam Venture Partners and General Global Capital
Additional Investors: Stratos and CoVenture
Company Website: https://www.threecolts.com/
Software Category: Management Software for e-Commerce
About the Company: Threecolts is an e-commerce management platform provider. It creates management software for e-commerce brands and individual merchants to manage their sales channels on Amazon. Threecolts has picked up some 22,000 customers since it first set up shop in 2021. The company’s mission is to make selling online easier and more profitable for businesses of all sizes, and this investment will help us take our platform to the next level. Threecolts’ client lists include leading consumer brands and Fortune 500 companies such as Samsung, Panasonic, and L’Oréal. The company is based in London, U.K., and has increased its staff to 150 employees in 31 countries during the last year.
Source: https://techfundingnews.com/threecolts-raises-90m-in-funding-to-make-online-selling-easier/