Teikametrics plans to use the funds to help sellers maximize sales across third-party marketplaces. Here are the top-line bullets you need to know.
Teikametrics, an optimization platform for Amazon and Walmart sellers, has raised $40M in a Series B continuation round. The round drew with participation from Intel Capital, Granite Point Capital, and GoDaddy among others.
How’s the company performing?
- Boston-based Teikametrics is a marketplace optimization platform for e-commerce businesses.
- The company’s SaaS platform, Flywheel, has processed over 40TB of data and optimized over $7B of sales, annually.
- Teikametrics has more than 200 employees across 5 countries and reported a 900% growth on Walmart’s marketplace in the last year.
- The company’s clients include DTC brands such as mDesign, Solo Stove, and Nutrafol and well-known brands like Timberland, Nutribullet, Clarks, and Elf, among others.
Source: Teikametrics
Why does the market matter?
- The global online marketplace optimization tools market is projected to grow at a CAGR of 9.1% by 2027, according to Absolute market insights.
- The surge in online marketplace businesses due to the Covid-19 pandemic has resulted in industry growth. The Amazon marketplace grew 60% in Q1’21 and Walmart estimates its marketplace will grow by 146% by the end of 2022.
- Changing the e-commerce ecosystem, the growth of DTC brands, and evolving strategies of marketplace selling have changed the industry landscape.
