Data platform provider SoundCommerce announced its $15M Series-A financing led by leading enterprise SaaS venture firm Emergence Capital with participation from existing investors Defy Partners and Voyager Capital. The funding coincides with SoundCommerce’s commercial acceleration across the global consumer retail industry, fueling the company’s expanded hiring, platform capabilities and customer engagement.
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“Against the backdrop of 2020, competitive pressure is greater than ever for consumer brands—and data capability means competitive advantage,” said Joe Floyd, General Partner at Emergence Capital.
“SoundCommerce is the easiest way for consumer brands to leverage modern cloud data warehouses configured for their specific industry and needs. I’m excited to partner with Eric and the team as they transform and enable disruptive brands in this dynamic industry.” Floyd joins SoundCommerce’s Board of Directors.
SoundCommerce is the fastest, most flexible path to modern data capability for consumer brands and retailers. The SoundCommerce data graph spans omnichannel shoppers, digital marketing campaigns, product assortment and merchandising offers, distributed inventory management, supply chain and fulfillment operations, wholesale channels, and unit variable revenue and cost accounting.
“We’re obsessed with data but our knotty web of proprietary applications, SaaS solutions and past-their-prime legacy systems makes working with our data hard,” said Matt Powell, CTO at FTD/Proflowers, a SoundCommerce customer. “The SoundCommerce platform helps us bring order and consistency to the chaos — so we have fast, easy access to the data we need to optimize product, channel and customer strategies.”
Consumers spent $861 billion online with U.S. merchants in 2020, up an incredible 44.0% year over year, according to Digital Commerce 360 estimates. That’s the highest annual U.S. ecommerce growth in at least two decades. It’s also nearly triple the 15.1% jump in 2019.
Yet 25 years into the ecommerce revolution, most consumer brands still struggle with the operational and financial realities of direct-to-consumer commerce. Decisions rarely align with profitable growth. Orders and customers can generate huge profits or losses from nominal changes in variable costs. From ad spend allocation to doorstep delivery routing, addressing the real-time complexity of the digital commerce model requires dedicated decisioning technology.
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