Teikametrics, the leading optimization platform for sellers on Amazon and Walmart, today announced the completion of a $40 million Series B round led by Intel Capital, one of the world’s top investors in AI technology.GoDaddy, the company that empowers everyday entrepreneurs, participated in the round as well as Centana Growth Partners and Lydia Jett, Head of ecommerce at Softbank Vision Fund as an individual strategic investor. Existing investors Jump Capital and Granite Point Capital also joined in the round. The new funding will drive the expansion of Teikametrics’ AI-powered SaaS platform, Flywheel 2.0, and support the ecommerce pioneer’s mission to bring cutting-edge decision-making capabilities to every online seller in the world.
The $40M round reflects investors’ increasing interest in the ecommerce space following a surge in online sales during the pandemic. Both Amazon and Walmart’s marketplace businesses have grown explosively in recent months, with Amazon Marketplace growing 60% in Q1 2021 — the fastest rate since the company started reporting third-party seller services revenues five years ago. Walmart Marketplace also grew to an estimated 70,000 sellers in 2020, and is expected to post 146% growth by the end of 2022.
Teikametrics is uniquely positioned to capitalize on that growth: its SaaS Optimization Platform, Flywheel 2.0, is already trusted by thousands of online sellers, from fast-growing DTC brands such as mDesign, Solo Stove, Nutrafol, and Nomatic, to household names including Timberland, Nutribullet, Munchkin, and Clarks. Using powerful AI technologies, brands can build momentum and accelerate growth by simultaneously automating the many levers required to optimize their business.
The ecommerce ecosystem is changing fast, with online sellers rushing to develop strategies that look beyond Amazon and leverage a wide range of omnichannel customer touchpoints. Teikametrics has grown its business on Walmart’s marketplace more than 900% in the past 12 months, and the Series B funding will support its expansion to other marketplaces. With new capabilities to support full-spectrum ecommerce needs, including inventory management and capital, Teikametrics is poised for strong growth in 2021.
“Direct-to-Consumer Brands need new strategies to navigate the new world of marketplace selling and cope with the vast amount of data generated by modern multichannel commerce,” said Arun Chetty, Managing Director of Intel Capital. “Teikametrics understands these challenges and is building the AI-enabled tools that merchants urgently need, and we’re thrilled to be facilitating the next step in their journey.”
“At GoDaddy, we’re committed to helping entrepreneurs sell everywhere — and Teikametrics is delivering the powerful AI-driven tools that allow ecommerce brands to level up their game and sell more effectively across multiple marketplaces,” said Sam Kemp, VP of Corporate Strategy at GoDaddy. “With powerful market intelligence and automated optimization tools serving all ecommerce functions, Teikametrics is transforming the way businesses sell products and serve customers online. We’re delighted to be supporting the Teikametrics team.”
“The world of commerce is changing fast, and we’re on a mission to make sure no seller gets left behind,” said Alasdair McLean-Foreman, CEO and founder of Teikametrics. “This Series B round will enable us to support more sellers and brand owners as they seek to optimize their marketplace strategies and reach global consumers more efficiently across an ever-expanding range of sales channels.”
