Tictail Grabs $22M Series B Round
NEW YORK, NY, Tictail announced today that it has raised $22 million in a Series B funding round.
According to Wired, Tictail, a young Swedish e-commerce startup, has two aims. The company wants to make it easier for new designers, independent brands, and emerging small businesses to have an easier way to set up shop online - and make it easier for the rest of us to shop for something trendy, new, and different, too.
The company announced today that it has raised $22 million in a Series B funding round from Thrive Capital as well as European investors Creandum, Balderton Capital, and Acton Capital. That new funding will help Tictail expand its mobile marketplace where designers can host storefronts and shoppers can browse, follow brands, and, well, shop.
Since its was founded in 2012, Tictail has predominantly been focused on building products to help small business easily launch online. Now that it has tens of thousands of them, the company is setting its eyes on reaching a larger swath of people like you - the consumer - with the hopes that shoppers everywhere are looking for a more international aesthetic that comes from hosting local designers from all around the world.
We buy a lot of stuff online - and it looks like we're going to keep buying a whole lot more. According to research from eMarketer, ecommerce accounted for nearly 6 percent of all global retail sales in 2014, or more than $1.3 trillion. And those numbers are only expected to grow.
Tictail is going after that very real market. But there are already several major players, like Etsy, Shopify, and Amazon, that offer ways for independent retailers to sell online. That doesn't seem to bother Tictail. 'Commoditized good are on Amazon, gadgets on eBay, and handmade goods on Etsy,' says Tictail's cofounder and chief executive Carl Waldekranz, when I ask him about his competition. He adds that the brands on Tictail have 'graduated from the kitchen table.'
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