E-commerce startup Shoppable announced today it has raised $3.5 million in Series A funding.
The NYC company intends to use the new funding to bring new retailers into their system, growing the 200 plus merchants who have already signed on, and the 100 others currently on the waitlist.
Put simply, Shoppable is a universal online shopping cart that travels with you from website to website. They offer multiple products to streamline shopping, including a Chrome extension for individuals that scans a web page for mentioned products, and then allows you to buy them through Shoppable. On the other side of the market, publishers can install widgets throughout their sites to curate a collection of products they want to sell. In addition to streamlining the online shopping experience, Shoppable’s approach provides publishers with tons of new data about their visitors and their shopping patterns.
“Our business focus has been on growing revenue, not investments, so today is a unique milestone because we are already working on bigger projects than a Series A would suggest,” said Heather Marie, CEO and Founder of Shoppable. “We have developed substantial strategic partnerships with our customer-centric e-commerce model that will be announced in the near future. In the meantime, we’re excited to continue to lead the way with an entirely new next-gen distributed retail technology that turns e-commerce around and brings the checkout experience directly to a customer."
The round was led by an unidentified investor, who it will unveil with a bigger announcement in the next few months. There was also participation from MI Ventures, Canary Ventures, On Grid Ventures, Thomas Varghese, Bodley Group, John D. Owen, Noopur Shukla, Andrew Boszhardt Jr., Sandeep Bhanote and others.