ThriveCart, an Austin-Texas-based shopping cart, sales funnels, and educational course creation technology used by small and medium businesses worldwide, secured a $35 million investment from LTV SaaS Growth Fund.
The Investment will allow ThriveCart to accelerate its product roadmap, grow its team and create best-in-class cart experiences for digital product sales
ThriveCart will further invest in its technology, which SMBs already adore for its lifetime license, flexibility, technical support, and integration possibilities.
The company also plans to grow its team to further tap into the thriving creator economy. The investment will accelerate the company's growth as it offers tools to set up taxes, payments, subscriptions, coupons, and marketing solutions, as well as build and manage affiliate programs.
ThriveCart also named e-commerce industry veteran Kevin McKeand as CEO.
"I am eager to continue the success of ThriveCart alongside Josh, our expert team, investors and ThriveCart's affiliate network — all of whom recognize the impact we are making for business owners. Being surrounded by people who share the same passion for helping entrepreneurs grow their businesses is what propels us forward," said Kevin McKeand, CEO of Thrivecart. "As we enter 2023, a New Year's resolution for many is to start or grow their own businesses. This investment from LTV SaaS Growth Fund will help make entrepreneurial dreams a reality for creators worldwide."
ThriveCart's platform is specialized for creators and businesses that sell digital products such as lessons and tutorials. Platform features include profit boosters, upsell abilities, tool integrations, and real-time business insights, as well as ConvertBox, an on-site engagement platform for personalized offers and lead capture forms.
Funding Month: January 2023
Lead Investors: LTV SaaS Growth Fund
Company Website: https://thrivecart.com/
Software Category: Shopping Cart Software
About the Company: ThriveCart is a comprehensive cart and funnel builder for small and medium businesses. Used by thousands of businesses around the globe, ThriveCart customers use the platform to sell billions of dollars in digital products and solutions online. In addition to the cart and checkout solutions, ThriveCart offers the course-creation tool Learn Plus and gives businesses a comprehensive set of tools that allows them to set up sales and marketing solutions. Customers can also build and manage their own affiliate programs. ThriveCart currently supports tens of thousands of businesses that collectively processed more than $1 billion in sales in 2022.