SamCart bags funding for D2C e-commerce solution
SamCart, a US-based e-commerce platform pitched at direct to consumer brands, has announced a $10 million Series A funding round led by TTV Capital.
Fin VC and George Kaiser Foundation also participated in the round.
SamCart, which was founded in 2014, will be investing in marketing efforts, as well as staff recruitment in Austin, Texas, and the Washington D.C. area.
“This past year has radically changed the way people interact with products and services online,” says Brian Moran, Founder and CEO.
“We’re seeing an entire new group of online shoppers become more comfortable expanding the types of things they buy online, like e-learning, online acting or music classes, and more.”
“There’s no better time than now to start selling directly to consumers with an omnichannel, product first strategy.”
“Direct to consumer commerce grew three to six times the rate of overall e-commerce from 2016 to 2019, which has contributed to SamCart’s success in that time,” says Sean Banks, Partner, TTV Capital.
“When Covid-19 added fuel to DTC commerce growth, SamCart’s e-commerce model was a unique match for what entrepreneurs needed to best reach customers during that time.”
“We see a lot of potential for its business model to continue growing at the pace it experienced in 2020 because we believe the past few years have forever trained a new wave of online shoppers who are more interested in products that suit a specific purpose over brands.”