Shop Circle takes another step forward, successfully raising $120 million in its Series A funding round. The round was led by 645 Ventures and 3VC, along with prominent participation from established supporters QED Investors and NfX, with the credit facility provided by i80 Group. This infusion of capital will enable Shop Circle to continue to build the forefront of e-commerce as the one-stop shop software provider for e-commerce brands.
Shop Circle officially launched in June of 2022 to reveal an expanding tech suite aimed to empower e-commerce merchants and brands to scale with ease. In that short time, our impact has already been substantial, with a customer base of more than 100,000 e-commerce brands worldwide and an astounding 360% year-over-year growth—a testament to the high-performance and utility of our extensive tech suite.
"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," says Luca Cartechini, the CEO and Co-Founder of Shop Circle. "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."
Shop Circle is actively developing proprietary AI-driven tools and processes to enhance the scalability of their core operations across all phases. In addition to its comprehensive platform, Shop Circle has launched a data-driven tech stack consultation program. Leveraging AI and hyper personalized data-driven insights, the company aims to optimize brands' tech stacks, reducing costs and increasing conversions to deliver exceptional customer experiences.
"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,” says Gian Maria Gramondi, Co-Founder and COO of Shop Circle. “With our tech stack review program, we are able to help e-commerce companies unlock their true potential by shedding unneeded tech and costs, enabling long-term success and scale.”
From the start, Shop Circle’s team of e-commerce professionals around the globe have been fueled by an unwavering commitment to equipping online brands with the tools and expertise needed to excel in today's competitive market.
Shop Circle's leadership team boasts a wealth of experience from some of the most prominent companies in the e-commerce and technology sectors, including Amazon, Shopify, Uber, and other leading e-commerce brands.
"Shop Circle's vision to build a leading SaaS platform for the second wave of commerce brands aligns perfectly with our investment strategy, which is to back exceptional founders building differentiated businesses in large markets," shares Nnamdi Okike, Co-Founder and Managing Partner at 645 Ventures. "We believe that Shop Circle will be a driving force in shaping the future of e-commerce, and we are proud to support Luca, Gian Maria, and the team in their growth journey."
Peter Lasinger, Partner and Founder with 3VC, echoes the sentiment, stating, "We have great trust in Luca, Gian Maria, and the whole Shop Circle team, as their dedication to creating an exceptional merchant's experience matches what we look for in entrepreneurs at 3VC. We're excited to join them on their journey, expecting remarkable success in their future."
In a world where e-commerce is a dynamic and ever-evolving landscape, Shop Circle stands as a leader in innovation and online enablement. With our comprehensive suite of tools, data-driven insights, and visionary leadership, Shop Circle is designed with the purpose of redefining how e-commerce brands flourish in the digital age.
"We're thrilled to announce our partnership with Shop Circle, the software suite for e-commerce brands. At i80 Group, we're captivated by the strong growth potential and execution capabilities of the Shop Circle team in the e-commerce enablement space, which Shop Circle is playing a leading role in shaping. We look forward to supporting Shop Circle in their next phase of growth," says Peter Frank, Managing Director at i80 Group.
The successful completion of our Series A funding round is a testament to the company’s unwavering commitment to building on the future of e-commerce.
About 645 Ventures
645 Ventures is an early-stage VC firm partnering with exceptional founders to build iconic companies. We invest in Seed and Series A stages, using our Voyager platform and network to support scaling. Notable growth-stage firms include Iterable, Goldbelly, Resident, and more. With $550m+ AUM and strong backing from institutions, 645 operates from NY and SF. Learn more at www.645ventures.com.
3VC is a European venture capital group that invests in a carefully handpicked group of European technology startups with global ambition. Focusing on Series A, 3VC’s entrepreneurial team provides tireless support and access to an international co-investment network of VC partners. 3VC’s backs category-defining companies like Assaia, Kaia Health,Lokalise, Picsart, Storyblok, and Tatum. More information at https://three.vc/.
About i80 Group
i80 Group is an investment firm designed to propel the innovation economy forward by empowering growth. The firm provides bespoke financing solutions that are unique to each investment partner's needs and are designed to help companies advance through critical growth milestones. The firm has offices in New York, San Francisco, and London. For more information, please visit www.i80group.com.