Marketplacer bags $38 million to fund US expansion
Australian retail technology company, Marketplacer, has secured $38 million in funding to boost its product suite, expand its partner programme, and accelerate US efforts.
The platform-as-a-service venture, which was established in 2016 and counts Mirakl as its major competitor, builds online marketplaces, with clients including Myer, BikeExchange, Metcash, FishBrain, Nokia, Surfstitch, Petstock, Providoor and Bob Jane T-Marts.
It has raised more than $85 million to date, with investors in the latest funding round including Acorn Capital, Ellerston Capital, Endeavor Asset Management, Lennox Capital Partners, Mirrabooka, OC Funds, Salesforce Ventures and SG Hiscock.
“A marketplace strategy, underpinned by a trusted and proven platform, is the next big growth lever in commerce, and we are at the forefront of enabling all retailers to add these capabilities to their offering,” says Jason Wyatt, Founder, Marketplacer
“With this new round of funding, we will continue to offer enterprise clients our modern, intuitive and scalable technology. At the same time, it will enable us to amplify our sales and marketing efforts and accelerate our product development, taking our offering to enterprise customers in the United States, Asia Pacific and beyond.”
David Keelan, Portfolio Manager, Ellerston Capital, comments: “Marketplacer has earned a stellar reputation for its technology platform, customer experience and double-down focus on being ten steps ahead of market requirements.”
“The team has made great strides in the marketplace economy and we look forward to being part of the Marketplacer success story as it expands its scope and enters international markets.”
