Shop Circle – a one-stop-shop software provider for e-commerce brands – recently announced the successful completion of its Series A funding round, raising $120 million. The funding round was led by 645 Ventures and 3VC, with notable participation from previous backers QED Investors and NfX, with the credit facility provided by i80 Group. This funding round was raised through a strategic combination of equity and debt.
The company also recently reported a substantial 360% year-over-year growth, driven by the integration and strengthening of its extensive suite of back-end and customer-facing solutions.
Shop Circle has been actively developing proprietary AI-driven tools and processes to enhance the scalability of its core operations across all phases. And in addition to its comprehensive platform, Shop Circle has launched a data-driven tech stack consultation program. Utilizing 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.
The leadership team includes professionals with experience in Amazon, Shopify, Uber, and leading e-commerce brands. And Shop Circle takes great pride in serving over 100,000 e-commerce brands around the globe, driving its commitment to empowering merchants with cutting-edge technologies and insights for unparalleled growth.
KEY QUOTES:
“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
“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. 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 growth.”
— Gian Maria Gramondi, Co-Founder and COO of Shop Circle
“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. 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.”
— Nnamdi Okike, Co-Founder and Managing Partner at 645 Ventures
“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.”
— Peter Lasinger, Partner and Founder with 3VC
“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.”
— Peter Frank, Managing Director at i80 Group
