Funding to e-commerce companies was up 133% in 2014, and maintained that pace in the first three months of this year. As startups and investment continue to crowd into e-commerce, it’s useful to know which companies are moving the fastest.
Overall, e-commerce startups are actually taking a longer to move from Seed to Series A financing. However, there was a slight acceleration in the first half of this year, at least in terms of moving from Series A to B rounds.
- For Seed to Series A, the median time to get funding reached 361 days (12 months) in 2014.
- For the Series A to Series B leg, the median time was 458 days (16 months) in 2014.
- For the first half of 2015, Seed to Series A time continued to rise, to a median of 382 days. But median time between Series A and B round was reduced significantly, to 384 days, the best result since 2012.
The CB Insights database allowed us to identify 4 of the fastest-raising companies for moving beyond Seed to Series A. All these companies went from Seed to A in less than 2 months. Mercari, a mobile flea-market app, received a series A round of $3M three weeks after its seed funding of $500K. See the full list below:
|Company||Days||Industry||Country||Series A raised ($M)||Select Investors|
|Mercari||21||Auction & Classifieds||Japan||$3.0||United|
|Lamoda||41||Apparel & Accessories||Russian Federation||–||Holtzbrinck Ventures, Kinnevik, Tengelmann|
|Kitchensurfing||47||Food & Grocery||United States||$3.5||BoxGroup, Spark Capital, Union Square Ventures|
We also looked at the companies that were fastest to move from Series A to Series B in the 2010 to Q2’15 period. The fastest-growing mid-stage company was Citydeal, a European deals service (later acquired by Groupon), which received $6.9M in Series B funding only 45 days after its Series A funding of $5.6M. Lazada, a Southeast Asia retailer, received Series B funding of $132M only 2 months after its Series A funding. More companies can be found below:
|Company||Days||Industry||Country||Series B Raised ($M)||Select Investors|
|Citydeal||45||Discount||Germany||$6.9||e.ventures, Holtzbrinck Ventures, Rocket Internet|
|Lazada||61||Multi-Product||Singapore||$132||Holtzbrinck Ventures, Kinnevik|
|YesMyWine||80||Food & Grocery||China||$10||Mandra Capital|
|Decide||104||Electronics & Appliances||United States||$6||Dan Levitan, Erik Blachford, Hugh Crean, Madrona Venture Group, Maveron, Ram Shriram|
|FTuan||105||Discount||China||$5||Mitsui & Co. Global Investment, Mizuho Capital|
Want more data and analytics on the e-commerce space? Check out the CB Insights Venture Capital Database. Sign up free below.