Shopping cart and sales funnel technology specialist ThriveCart announces $35 million investment

ThriveCart, a specialist in shopping cart, sales funnels and educational course creation technology used by small and medium businesses, has secured a $35 million investment from LTV SaaS Growth Fund.

The venture had not previously raised any other outside funding.

It has also named e-commerce industry veteran Kevin McKeand as CEO.

Josh Bartlett, ThriveCart founder, will continue to drive product innovation.

E-commerce businesses that sell digital products rely on the firm to create content, cart pages, funnels and affiliate campaigns.

“I am eager to continue the success of ThriveCart alongside Josh, our expert team, investors and its  affiliate network — all of whom recognise 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,” says McKeand.

“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 will invest in its technology.

“We have an ambitious product roadmap, including a significant release planned for the first half of this year,” says McKeand.

“The investment puts those efforts into overdrive, allowing us to bring new features and technology to our affiliates and customers even faster.”

The company also plans to grow its team to further tap into the thriving creator economy.

It will look to accelerate its growth as it offers tools to set up taxes, payments, subscriptions, coupons and marketing solutions, as well as build and manage affiliate programmes.

“Working daily with entrepreneurs, I see first hand how valuable ThriveCart is for building high conversion checkout experiences,” says Gemma Bonham-Carter, a business strategist and member of ThriveCart’s affiliate network.

“My customers create and sell content like courses and workshops, and ThriveCart is my go-to recommendation to help these creators close more sales. I’m eager to see what the ThriveCart team will do next to help even more entrepreneurs prosper.”

ThriveCart’s platform is specialised 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 personalised offers and lead capture forms.