The post-epidemic epidemic of e-commerce means stores are moving online. However, some merchants ended up getting dozens of independent app providers to fit everything in supply chain, inventory and marketing. Founder of the Store Circle Realize this Then build or purchase Many such applications. The company has now raised $60 million in Series B fundraising Nextalia Adventure To extend this policy.
Through this funding, Shop Circle also completed the acquisition of Aiden, an AI-powered, so-called “guidance” software used by e-commerce giants such as LG, Prenatal and Intersport.
Shop Circle claims it’s up 110% year-on-year revenue, which helps it raise funds, with its focus on business-centric products powered by the growing ability to generate AI integration. It can be profitable for two consecutive years.
“Our main solutions range from AI-powered product discovery, mainly for commerce, upselling, review management, inventory management and strength is that all software is aggregated under a unified Shop Circle platform,” said Luca Cartechini, CEO and co-founder.
When asked about their competitors, he said: “We do have several categories of competitors…but none of them have all the products under one platform.”
In fact, part of Shop Circle’s success lies in its in-depth integration with Shopify: “Shopify is our partner, we are the largest solution provider in the Shopify App Store, basically Shopify’s App Store,” he said.
“Shop Circle delivers a unified suite of B2B software in the industry with its innovative approach,” Nextalia CEO Francesco Canzonieri said in a statement.
Other participants in this funding round include the effort catalyst, as well as existing investors such as NFX, QED investors, 645 Ventures, 3VC and I80 Group.
The latest fundraising comes after a $120 million 2023 salary increase, led by 645 Ventures and 3VCs.
