Scalefast Announces $8M Series A Funding
LOS ANGELES, CA, Scalefast, the direct-to-consumer digital commerce platform for lifestyle brands, announced that it has secured $8 million in Series A funding.
Scalefast, the direct-to-consumer digital commerce platform for lifestyle brands, announced that it has secured $8 million in Series A funding, led by BGV. Additional funding participation comes from Adara Ventures, B&Y, French Partners and CIC Capital. This investment will be used to expand services and support to existing clients and, toward further development of its ecommerce personalization technology, which enables brands to offer a superior, relevant shopping experience that increases customer retention and expands revenue growth for clients by an average of 40%.
"Using machine learning and consumer behavior data of known and unknown website visitors, Scalefast empowers brands to understand what motivates consumers on a deep level and then, to act on those observations in real-time, allowing them to develop an impactful, one-to-one relationship that simply cannot be formed when selling through intermediaries like Amazon," said Nicolas Stehle, CEO and Co-Founder at Scalefast.
"In the $2T digital commerce market, only about one-third of brands have an online store, most often because they don't have the right platform, business infrastructure or team to handle it alone," said Eric Buatois, General Partner at BGV. "eCommerce, at scale, is not easy to do well. Brands need to work with an innovative, reliable partner who can scale and deliver the data and analytics needed to establish a powerful connection with the consumer so the brand can focus on branding, marketing and product positioning. We are thrilled to be partnering with such a talented and committed team."
"The brands that will prevail are those who understand that the key to long-term success is in creating lasting relationships -- they can achieve this by making their online store the favorite place for consumers to buy," remarked John Pleasants, Scalefast Advisory Board Member, CEO of Brava Home and former executive at Disney, Samsung and Electronic Arts. "Scalefast provides a way for brands to build equity with consumers by facilitating a seamless experience that drives revenue, allowing brands to reach their full potential."
This announcement comes on the heels of a banner year for Scalefast in 2017, marked by significant milestones including launching dedicated direct-to-consumer shopping experiences for over 20 major product launches, and exceeding 14 million orders processed, serving consumers in over 240 countries. Scalefast also doubled its team and was recognized with multiple awards including the Best in Biz gold award for Enterprise Service of the Year and the Digiworld Award.
Scalefast is a digital commerce platform that simplifies and streamlines eCommerce for global lifestyle brands that want to make their store the best place to shop online. Using a powerful combination of Artificial Intelligence and eCommerce expertise, Scalefast provides the infrastructure and full-service business operations necessary to scale quickly and increase revenue, with everything needed under one roof.
Based in Los Angeles, with offices in Paris and Madrid, Scalefast takes the complexity out of digital commerce for brands in the entertainment, consumer goods and fashion industries. For more information, visit the Scalefast website.
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