US retail technology startup Swiftly bags $100m in new funding
Seattle-based Swiftly has announced a $100 million Series B funding round led by Wormhole Capital.
This also includes investment from Liquid2 Ventures, Bramalea, Gaingels, Silicon Ventures, Proof VC, Western Technology Investment, Sand Hill Angels and The Martin Family.
The latest round of funding brings the company's total investment to $120 million.
It will use the cash to add staff and resources across all company verticals, including engineering, sales, marketing, and customer onboarding.
It will also grow its product offering to serve more retailers, brands and their customers.
Swiftly’s platform connects retail customers through “engaging and personalised digital shopping experiences to the bricks and mortar store, while generating margin-rich retail media dollars”.
Retail customers gain greater product and pricing visibility in stores, exclusive personalised discounts and rewards to boost savings, and a seamless mobile checkout experience.
Swiftly's tech is used by retailers like Family Dollar and The Save Mart Companies. In addition, 100+ of the top CPG brands advertise on its retail media platform.
“Retailers need to act now to connect the digital and in-store experience and capitalise on the $100 billion retail media opportunity,” says Henry Kim, Co-founder and CEO at Swiftly.
“Those that don’t connect the digital and in-store customer experience risk becoming obsolete and are handing over loyal customers and advertising revenue to the competition.”
“Swiftly gives power back to retailers by providing a complete and flexible solution for in-app and in-store shopping enabling them to meet their customers where they’re shopping.”
“Swiftly is redefining and empowering brick-and-mortar retail with their transformative, technology that provides the tools to seamlessly mesh online and offline initiatives," says Vivek Garipalli of Wormhole Capital.
“For the past two decades, most bricks and mortar businesses have been hampered by legacy digital systems that no longer serve them.”
“Add to that, the rise of retail giants who have taken market share category by category, and it becomes clear that it’s time to change. Retailers need a technology partner to help them thrive amidst evolving retail landscape and customer behaviour.”
“By partnering with Swiftly, retailers can leverage their physical locations, customer relationships and distribution networks to not just survive the shift in retail, but instead to leapfrog it."
