- MikMak — a New York-based e-commerce marketing and insights company — announced that it has raised $10 million in Series A funding
MikMak — a New York-based e-commerce marketing and insights company — announced that it has raised $10 million in Series A funding, according to Crunchbase. Wavecrest Growth Partners led the round. And existing investors Luminari Capital and Brave Ventures, as well as new investors Lunch Partners, Madrona Venture Group, Brett Hurt, Jonathan Opdyke, John Roswech, David Shim, and Harry Kargman, also joined the round.
Including this round of funding, MikMak has raised $14 million. And in connection with the funding, Wavecrest Growth Partners’ Co-Founder Deepak Sindwani joined the MikMak board of directors.
MikMak founder and CEO Rachel Tipograph launched the company in 2014 as a “QVC for Snapchat.” But it pivoted to a different business model in 2017.
MikMak essentially enables traditional brick-and-mortar brands like Colgate, Dreyer’s, and Hershey’s manage online retail strategies by gaining real-time insights and a view of activity across online retailers such as Amazon, Target and Walmart.
MikMak has been cash flow positive since 2018. And following the global pandemic, MikMak started attracting VC attention.
“Consumer demand for e-commerce expanded by five years overnight, positively impacting our revenue 50 percent from March to present day,” said Tipograph via Crunchbase. “My business was growing faster than I imagined. All of a sudden, I had an opportunity to dominate the market. When VCs started salivating over our business metrics, I decided to be opportunistic.”
With this round of funding,
MikMak will gain market share, advance the product roadmap, expand the retail footprint, and offer services to international companies. And MikMak is also hiring and planning to triple the size of the company before the end of the year from its current employee base of about 60 employees.
