Vlocity, 1stdibs, other MarTech Companies Receive Millions of Dollars in Funding

 

Marketing technology companies like Vlocity, 1stdibs, Amify, PhotoShelter, and Abstract have received millions of dollars in funding last March 25 to April 2, 2019.

Vloicty, a software company, has received US$60 million in Series C funding on a US$1 billion valuation. The investment came from participants like Sutter Hill Ventures and Salesforce Ventures. Also included are Bessemer Venture Partners, Accenture, and New York Life. Overall, the company has received around US$163 million in total.

Vlocity, Inc., according to their website, provides industry-specific cloud applications and mobile software solutions to organizations in various industries to improve their omni-channel customer experience. The company also offers services like omni-channel sales, customer order management, and service solutions to communications, media, and technology sectors; people-centric benefits case management and customer relationship management (CRM) applications for government agencies; omni-channel policy, benefit plan, and customer insurance applications for the insurance industry; and healthcare CRM applications for policy and plan profiles for acquisition, quoting, and renewals for employee benefits. Vlocity was founded in 2014, and is based in San Francisco, California, and is located in other countries as well.

 

1stdibs

Online marketplace 1stdibs received US$76 million in new Series D funding from Rowe Price Associates with support from Index Ventures, Benchmark, and Spark Capital. It has now over US$500 million in valuation.

1stdibs.Com, Inc. operates an online marketplace for antique products. The company offers products like furniture, jewelry, and watches. They also offer magazines, as well as fashions clothing, handbags, and accessories to customers worldwide. The company also sells its products through dealers in the United States; Asia; Australia, Austria, Belgium, Canada, Denmark, France, Germany, Italy, Ireland, Mexico, the Netherlands, Portugal, Spain, Sweden, Switzerland, and the United Kingdom. The company was incorporated in 2000 and is based in New York, New York, USA.

 

Amify

Amazon advertising management software platform Amify landed US$5.8 million in Series A funding led by Mercury fund, along with Dundee Venture Capital, CincyTech, SaaS Venture Capital, and Nigel Morris, co-founder of Capital One.

Amify, Inc., a digital retail agency, partners with companies to control and optimize their presence on the Amazon marketplace. Its solutions and services include product listings, monitor and prevent unauthorized sellers, maintain pricing strategy, and improve Amazon search rankings. Amify, Inc. was formerly known as Potomac River Holdings LLC. The company was founded in 1995 and is based in Alexandria, Virginia.

 

Photoshelter

Digital asset management platform PhotoShelter landed US$8 million in funding, led by Level Structured Capital, an affiliate of Level Equity.

PhotoShelter, Inc. provides photography portfolio websites and tools for photographers. It enables photographers to showcase, share, store, license, and sell images online. The company offers tools for photographers, including websites, cloud storage and organization, client proofing and delivery, e-commerce, and marketing tools, among other things.

 

Abstract

Abstract, a design workflow platform, also landed US$30 million in Series C funding led by Lightspeed Venture Partners, along with Scale Venture Partners, Amplify Partners, and Cowboy Ventures. The company has an estimated US$54.2 billion in value as of today.

Abstract, according to their website, is a design and workflow platform that helps designers work together.

 

Why the fundings matter

Vlocity will be able to invest in product development for the following industries: communications and media, insurance and financial services, health, energy and utilities, and government and nonprofits. 1stdibs will be able to adjust to the rise in competition in the online antiques market by investing in brick-and-mortar showrooms. Photoshelter’s new funding will help improve digital visual content. Amify will continue to help Amazon dominate the e-commerce market. Abstract will build a more flexible platform with new funding.

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