After its launch in October, Tradeswell announces today that it has raised $ 15.5 million in Series A funding.
Co-founder and CEO Paul Palmieri previously ran digital advertising firm Millennial Media (now owned by TechCrunch’s parent company Verizon Media), and he said today’s ecommerce market is similar to the online market. online advertising when he ran Millennial – ready for further optimization and automation.
Tradeswell focuses on six components of e-commerce businesses – marketing, retail, inventory, logistics, forecasting, lifetime value, and finance – with the primary goal of enabling these businesses to improve their net margins, rather than just generate more clicks or purchases. The platform can fully automate some processes, such as buying online advertisements.
To illustrate what he can accomplish, Tradeswell highlighted the work he did with a personal care brand on Amazon Prime Day, with total sales doubling from the previous Premier Day and profits increasing by 67%. %.
The startup has now raised a total of $ 18.8 million. Series A was led by SignalFire, who also led the Tradeswell fundraiser, while Construct Capital, Allen & Company, and The Emerson Group also participated.
“With the explosion of e-commerce over the past year, Tradeswell is uniquely positioned to help brands manage the complexity of online sales across an ever-increasing number of platforms and markets,” said Chris Farmer. , Founder and CEO of SignalFire in a press release. “Paul and his team bring together a unique blend of data, marketing and logistics experience to meet the challenges of today and a rapidly changing market for years to come with a central command center. to optimize profitable growth. ”
Palmieri said the new funding will allow Tradeswell to continue investing in the product, which will also mean building more integrations so that more types of data become “more liquid,” which in turn means the platform can ‘make a lot more decisions in real time. . “
When Tradeswell was launched publicly last fall, it already had 100 customers, and Palmieri told me that number subsequently surpassed 150. He also doesn’t expect the shift in e-commerce consumption to go away once the pandemic is over.
“Part is probably going back to the way it was, part is staying online,” he said. “I think it’s important to point out that there is something in the middle – that something is this notion of great convenience, that is, semi-brick and mortar with [elements of e-commerce]whether it’s mobile controls or something like an Instacart. “
Naturally, he sees Tradeswell as the key platform to help companies navigate this change.