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.
This report was created with data from CB Insights’ emerging technology insights platform, which offers clarity into emerging tech and new business strategies through tools like:
- Earnings Transcripts Search Engine & Analytics to get an information edge on competitors’ and incumbents’ strategies
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