Amify, an Alexandria, Virginia-based company that provides turnkey solutions for brands seeking to maximize selling potential on Amazon, announced it raised $5.8 million in Series A funding led by Mercury Fund. Dundee Venture Capital, CincyTech, SaaS Venture Capital, and Capital One co-Founder Nigel Morris also participated in this round.
“Amazon represents nearly half of the entire e-commerce market—and growing,” said Amify founder and CEO Ethan McAfee in a statement. “Brands that want to win online need a strong e-commerce strategy for the Amazon Marketplace, from product page enhancements to inventory management. This funding marks the next chapter in our tremendous growth, and we are proud to have assembled a powerhouse group of investors with a strong track record of data-centric innovation and retail industry expertise.”
With this funding round, Amify is going to increase its recruiting efforts in order to broaden its senior-level management team along with expanding marketing and branding initiatives and further develop its proprietary next-gen data insights platform for brands to gain better insights from the Amazon Marketplace.
Photo Credit: Amify
“Ethan is one of the most impressive entrepreneurs we have invested in,” added Mercury Fund managing partner Blair Garrou. “Mercury believes that tech-enabled providers, like Amify, have great growth potential by providing brands the ability to scale product sales and manage brand equity within the Amazon Marketplace. What set Amify apart was their expertise in understanding the needs of every aspect of a brand’s Amazon strategy, as evidenced by their explosive growth over the past few years. We are excited to be their partner as they build on their foundation as an innovator in e-commerce managed marketplaces.”
Amify is also finalizing logistics for a formal opening of a second office in Cincinnati (close proximity to the Amazon Prime Air Hub at the Cincinnati/Northern Kentucky International Airport). And Amify is also strategically located near the Amazon HQ2 that is currently in development outside of Washington D.C.
“One thing that we love to invest in is a market leader that really knows their space inside and out,” explained Dundee Venture Capital managing partner Mark Hasebroock. “From humble beginnings of selling pickleball paddles out of his home, Ethan has lived and breathed the Amazon Marketplace for the last 15 years. He truly knows what works and why and has built a team and service around that knowledge that, frankly, is difficult to beat. If I am a brand—I want and need Amify and its services.”
Amify has sold over $100 million on Amazon for its customers ever since it bootstrapped the inception and the company has helped empower over 1,000 brands across a spectrum of consumer goods vertical industries with a unified solution to amplify their brand presence.
“We believe great companies often capitalize on market tailwinds,” noted SaaS Ventures managing partner Collin Gutman. “Amazon defines e-commerce and brands today need to navigate Amazon in order to be successful. Amify will be a must-have tool that allows brands to win in the Amazon channel.”
Now Amify is entering a new phase as the most advanced provider in the industry and the company is poised for exponential growth. And Amify is well-positioned to harness the regional talent workforce and broader ecommerce ecosystem potential.
“We’re excited to support a sharp entrepreneur who’s built a leading business in an emerging market,” CincyTech director Doug Groh commented. “Amify has strong growth potential and significant job creation planned in Cincinnati.”
