Shop Circle has bagged $120m (£96.1m) in Series A debt and equity funding for its AI-powered ecommerce software tools that aim to optimise brands’ online shopping experiences.
It declined to reveal the split of debt and equity when asked by UKTN.
The round, led by 645 Ventures and 3VC, will fund the development of its software which includes tools for digital content-selling, physical store maps, referral programs, shipping calculator and restock notifications.
Launched in June 2022, Shop Circle says its apps can shrink costs, optimise tech stacks and lead to more conversions.
Luca Cartechini, the CEO and co-founder of Shop Circle, said: “Our vision has always been to create a comprehensive operating system for e-commerce brands, providing them with the necessary technology to excel in today’s competitive market.”
The London-based startup’s Series A funding also attracted investment from QED Investors and NfX.
According to the business, it has around 100,000 ecommerce users around the world and team members from the likes of Amazon and Shopify.
“Since our inception, we have embraced the AI revolution and promptly built several applications to support and automate the majority of our processes, offering a distinct advantage in operating and growing our suite of software,” said Gian Maria Gramondi, COO and co-founder of Shop Circle.
Airline retail software Branchspace recently landed a £5m backing from Gresham House Ventures.