Venture Capital News: Gooten Snares $1.35M Bridge Round
2016-02-17
NEW YORK, NY, Provider of custom print fulfillment services, has closed a bridge financing round of $1.35 million.
Makeable, a worldwide provider of custom print fulfillment services, today announced that it has adopted Gooten as its new brand name, closed a bridge financing round of $1.35 million, and appointed Brian Rainey as CEO.
Gooten represents an evolution of the company's aim to revolutionize product fulfillment, which is now bolstered by a revamped management team and fresh capital commitments. The bridge round of $1.35 million was led by existing investors ff Venture Capital and KEC Ventures, following a successful seed financing with an investor group including Lead Edge Capital, Dennis Phelps of Institutional Venture Partners, and Semyon Dukach of Techstars.
'I am thrilled by the continued support of our investors and the opportunity to make Gooten the leading fulfillment solution in the e-commerce space,' said Rainey. 'Our new leadership team has reduced the company's burn rate and re-focused our business strategy to ensure we are well-positioned to continue growing, and capitalize on the strong market opportunity in front of us.'
The company fulfilled its one millionth order following a successful 2015 holiday sales season, coming only 18 months after the initial release of its suite of e-commerce tech solutions. Building on this success, Rainey will work with Micah Smith, Gooten's Co-Founder and CTO, to focus on enhancing the company's core offerings:
An intuitive API;
Javascript and native iOS and Android SDKs for white-labeled print sales;
A Shopify app which seamlessly automates product fulfillment; and
B2B direct sales of merchandise and promotional products
'Brian Rainey combines an A+ game of experience, innovation, and leadership. He truly understands what it takes to meet the demands of the market and deliver the best possible solutions for Gooten's partners,' said John Frankel, founding partner at ff Venture Capital. 'Brian and Micah together will ensure that every enhancement we make, whether tech, product, or service related, is done with the best interests of our partners in mind.'
About Gooten
Gooten is a custom print fulfillment service that enables businesses to simplify product fulfillment through the world's best manufacturers. Gooten offers an intuitive API, iOS and Android SDKs for white-labeled print sales, a Shopify App which seamlessly automates product fulfillment, and B2B direct sales of merchandise and promotional products.
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