Jungle Scout, a leading all-in-one platform for selling on Amazon, today announced it has raised $110 million in growth capital, led by Summit Partners and Jungle Scout Founder & CEO Greg Mercer. The capital supports Jungle Scout’s continued growth as the company expands its technology suite with the acquisition of Seattle-based Downstream Impact, a leading Amazon advertising tech company, extends its SaaS platform to support Walmart, and continues to scale its capabilities in advertising and full-scale ecommerce brand management.
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“As an Amazon seller myself, I started Jungle Scout in 2015 to help other entrepreneurs find financial freedom on Amazon. We’ve grown profitably since day one, and we believe the opportunity only continues to grow,” said Mercer. “Since 2015, we’ve worked to expand our product capabilities to help businesses manage every step of their selling journey from product research to launching and scaling their business ventures.
Today, Jungle Scout serves a global customer base of entrepreneurs and brands focused on building a business on Amazon and beyond. We’re continuing to deliver on our mission to empower the world’s brands with essential insights to understand and sell in the evolving ecommerce marketplace.”
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Accelerating Momentum
As the world continues to turn to ecommerce, Jungle Scout and the businesses the company serves are experiencing strong growth.
- Today, Jungle Scout supports more than $8 billion in Amazon revenue and serves over 500,000 brands and entrepreneurs who are working to build successful businesses on Amazon.
- The company’s powerful data engine processes data from more than 500 million Amazon products, offering sales, keyword, and other trend insights to help brands, entrepreneurs, and agencies identify opportunities and sell successfully in the Amazon channel.
- In June 2020, Jungle Scout introduced Cobalt, a market intelligence and product insights platform built to help enterprise brands win the Amazon channel. Cobalt processes more than 1 billion data points daily, and is designed to provide powerful intelligence, including extensive data on market share, segment and trend analysis, competitive insights, content optimization, and more.
- The company continues to invest in future ecommerce platform growth, including expansion to Walmart.com.
- Today, Jungle Scout employs more than 200 team members across 16 countries and expects headcount to double in 2021.
- The company also opened its second and third offices in China, in Hangzhou and Qingdao, in addition to its office in Shenzhen.
We believe Summit Partners’ investment underscores the essential role Jungle Scout’s powerful technology plays in helping both established brands and aspiring entrepreneurs build successful ecommerce businesses.
“Jungle Scout was one of the first companies to identify the opportunity to provide SaaS-based tools to help businesses and brands expand their ecommerce footprints on Amazon and beyond, and the company has built on this leadership position over the last several years,” said Neil Roseman, Technologist-in-Residence at Summit Partners and Jungle Scout Board Director. Roseman served as Vice President of Technology at Amazon from 1998 to 2007, where he helped lead the software development underlying many of Amazon’s early marketplace and commerce capabilities.
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