Rally – a leading composable checkout platform for e-commerce merchants – announced a $12 million Series A investment led by March Capital with additional participation from Felix Capital, Commerce Ventures, Afore Capital, Alumni Ventures, and Kraken Ventures. This investment follows Rally’s $6 million seed funding round in 2021.
What Rally does: Rally’s checkout solution gives merchants the freedom to design and implement a bespoke checkout that works best for their teams. And the platform offers e-commerce businesses a one-click checkout solution as well as tools for post-purchase offers, which has proven to reduce the industry average 70% cart abandonment rate and increase revenue by over 12%.
The company co-founders Jordan Gal and Rok Knez previously ran CartHook, which is a checkout solution that processed nearly $3 billion in transactions for Shopify merchants. They launched Rally in 2020 after seeing the demand from merchants for a next-generation checkout platform outside of the Shopify ecosystem. The company’s launch came at a time during the e-commerce boom when merchants demanded a more customizable solution and greater control over the checkout process to scale and provide consumers with a better shopping experience.
Utilizing years of checkout experience, Jordan and Rok have consistently grown the number of Rally Pay vaulted shoppers by high single-digit percentages on a weekly basis with nearly 50 e-commerce merchants of all sizes and nearly doubling the size of its team in the last year.
Rally’s existing infrastructure could be integrated with any offering and is leading the way in how merchants future-proof their stores. And they currently offer support for multiple back-end and front-end platforms, payment processors, and payment methods. Later this year, Rally is going to strengthen its fraud protection offering and plans to build out Web3 features, starting with allowing merchants to accept cryptocurrencies in their checkout.
What the funding round will be used for: The funding will help Rally strengthen its team, penetrate enterprise and international markets, and expand integrations beyond Swell and BigCommerce with other commerce platforms like Salesforce Commerce Cloud and commerce tools and payment methods such as Affirm and AfterPay.
KEY QUOTES:
“Our guiding north star is to place power back into the hands of merchants and developers, period. We are building an e-commerce ecosystem for the future – where business owners and developers are placed back in control of their brand. Right now, merchants are forced to accept the existing checkouts provided to them by underlying platforms, and app developers are tirelessly bound to the legacy platforms they build for. We believe there is a better way to do things – placing the merchant back in the driver’s seat and setting them up for success.”
- Jordan Gal, co-founder and CEO of Rally
“Ecommerce companies need to be flexible and connect with consumers wherever they are. This means merchants of all sizes, especially mid-market and enterprise, need the right commerce tech infrastructure to keep pace with evolving trends. We’re incredibly impressed by Jordan and Rok’s industry knowledge and product discipline. Rally’s growth in the last year is a testament to the product’s market demand, and we’re excited to partner with the team to arm every business with a more profitable and consumer-friendly alternative to legacy, outdated offerings. We’re confident that Rally will be a critical player in every ecommerce merchant’s tech stack for years to come.”
- Hyun Koo, Partner at March Capital – who will also be joining Rally’s board
