Los Angeles-based digital commerce solution provider, Scalefast recently announced that it has raised $22mn in Series B funding round. The company plans to use this funding to expand its team, footprint and product offering to further support existing and new customers.
The funding round saw participation from Xplorer Capital, Stereo Capital, FJLabs, as well as current investors Benhamou Global Ventures, Crédit Mutuel Equity and Adara Ventures.
In an official statement, the company said, “The Series B funding further validates Scalefast’s modern approach to helping brands expand and scale their direct-to-consumer sales. In light of the global COVID-19 crisis, Scalefast demonstrated its capacity to help brands respond to an unprecedented event by offering its services for brands needing to increase product availability to consumers through a rapid move towards DTC sales, launching stores in as little as 15 days.”
Scalefast, whose portfolio of customers includes industry leaders such as L’Oréal, FLIR and Square Enix, saw 200% growth year-over-year and has received top honors in the past few years including Red Herring’s 2019 Top 100 North America award, and named to both the Inc. 5000’s list of the fastest growing companies and Deloitte Technology Fast 500.
“Everyone struggles with the necessary trade-off requirements attached to move one’s brand online. And it takes a subtle set of tools to maximize the revenue impact, the content and the experience all-in-one. Scalefast is disrupting the sector and enabling commerce at your fingertips. It is becoming a standardized platform, a must have for its unmatched flexibility and fluidity,” said Red Herring’s jury.
“Our vision has always been that brands should deliver a perfect eCommerce experience directly to the consumer, not intermediaries. As brands have had to adapt quickly to a new reality over the past few months, the need for rapid digital transformation that allows retailers and brands much needed flexibility to scale has never been more critical,” said Nicolas Stehlé, CEO of Scalefast.
He further added,“With this latest fundraise, we are able to uniquely position Scalefast to provide the necessary tools for a flawless direct-to-consumer experience unhindered by third-parties.
“In reality, most brands are massively under-performing in a direct-to-consumer capacity,” said Fabrice Grinda, Founding Partner of FJLabs, “Building, operating and scaling their own channel simply can’t be solved by the software that is currently out there. Scalefast has built a unique business-as-a-service approach which, combined with its robust and flexible SaaS-based technology, allows brands to quickly scale a fully-functional DTC channel and expand abroad without risk. Our goal is to support them through their next phase of growth as they continue to build upon their one-of-a-kind model.”
“Scalefast is executing on their ultimate vision of bringing speed, flexibility and agility to enterprise eCommerce,” said Keith Nilsson, Managing Partner of Xplorer Capital. “By delivering the only comprehensive and flexible solution for brands looking to sell directly and scale globally in just a matter of weeks, Scalefast is leading the charge of challenging the status quo in DTC eCommerce and we couldn’t be more excited to be a part of it.”
In addition to the financing, Nilsson will be joining Scalefast’s board effective immediately.
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