Shop Circle, a software provider for e-commerce brands has raised $120 million in Series A funding, the company has announced.
The round was led by 645 Ventures and 3VC, with participation from previous backers QED Investors and NfX, with the credit facility provided by i80 Group. The funding was raised through a strategic combination of equity and debt and will be used to expand its suite of products, the firm said.
“We’re thrilled to announce the successful close of our Series A funding round, which will enable us to continue building and expanding our suite of e-commerce tools. Our vision has always been to create a comprehensive operating system for e-commerce brands, providing them with the necessary technology to excel in today’s competitive market,” Luca Cartechini, CEO and Co-Founder of Shop Circle said.
Aside from its platform, which includes a range of tools designed to streamline business operations, Shop Circle has launched a data-driven tech stack consultation programme. This uses AI and hyper personalised insights to help optimise brands’ tech stacks, reduce costs and increase conversions. Although the company was only founded, in 2021, it said it already serves more than 100,000 e-commerce brands globally.
“Since our inception, we have embraced the AI revolution and promptly built several applications to support and automate the majority of our processes, offering a distinct advantage in operating and growing our suite of software. Our goal is to equip e-commerce entrepreneurs with the high-performance tools and expertise they need to scale business effortlessly,” said Gian Maria Gramondi, Co-Founder and COO of Shop Circle.
“With our tech stack review programme, we are able to help e-commerce companies unlock their true potential by shedding unneeded tech and costs, enabling long-term success and growth,” he added.