Narvar has successfully raised $64 million over four funding rounds, establishing itself as a key player in the post-purchase customer experience sector. The platform collaborates with over 600 brands, enhancing customer loyalty through intelligent personalization and seamless post-purchase interactions.
Keep reading to delve into the details of Narvar's fundraising journey and the investors who have supported this innovative platform.
What Is Narvar?
Narvar, founded in 2012 by Amit Sharma, is headquartered in San Francisco with additional offices in London and Bangalore. The company specializes in post-purchase customer experience solutions, helping retailers retain, engage, and delight customers.
With a workforce of 201-500 employees, Narvar collaborates with over 600 brands, serving more than 400 million consumers worldwide. Their platform offers products like Promise, Notify, Track, Return & Exchange, and Assist, focusing on intelligent personalization "Beyond Buy."
Narvar's mission is to simplify the everyday lives of consumers by enhancing the post-purchase phase of the customer journey. The company aims to drive loyalty and engagement for retailers through innovative solutions and data-driven insights.
How Much Funding Has Narvar Raised?
- Seed Funding Round
- Amount Raised: $2 million
- Motivation Behind the Round: Initial funding to develop and launch the service
- Series A Funding Round
- Amount Raised: $10 million
- Date: August 2015
- Lead Investors: Accel Partners
- Motivation Behind the Round: To enhance the post-purchase experience for customers, improve customer retention, and reduce overhead costs like support call volume
- Series B Funding Round
- Amount Raised: $22 million
- Date: June 2016
- Lead Investors: Battery Ventures
- Motivation Behind the Round: To build out its software-as-a-service, leadership, and sales team, and to move into new corners of e-commerce
- Series C Funding Round
- Amount Raised: $30 million
- Lead Investors: Accel
- Motivation Behind the Round: To support the aggressive expansion of Narvar's business, refine its technology, and expand into Asia and Europe
Total Amount Raised: $64 million. Current Valuation: Not specified.
Key Investors
- Accel
- Details: Accel is a venture capital firm that invests in early-stage and growth-stage technology companies. They have a global presence and a strong track record in backing successful startups.
- Investment Focus Areas: Technology companies, e-commerce, enterprise software, consumer internet
- Notable Investments: Facebook, Dropbox, Slack, Spotify
- Battery Ventures
- Details: Battery Ventures is a global investment firm that focuses on technology and innovation. They invest in companies at all stages of their lifecycle, from early-stage startups to established businesses.
- Investment Focus Areas: Technology, software-as-a-service (SaaS), enterprise solutions
- Notable Investments: Nutanix, Coupa Software, Glassdoor
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce, focusing on enterprise cloud companies. They aim to support the next generation of enterprise technology.
- Investment Focus Areas: Enterprise cloud, SaaS, technology
- Notable Investments: DocuSign, Twilio, Zoom
- Scale Venture Partners
- Details: Scale Venture Partners is a venture capital firm that invests in early-in-revenue technology companies. They focus on companies that are scaling their business and have a proven product-market fit.
- Investment Focus Areas: Software, cloud infrastructure, technology
- Notable Investments: Box, HubSpot, DocuSign
- Fung Capital
- Details: Fung Capital is a logistics-focused investment fund. They specialize in supply chain and logistics investments, leveraging their expertise in these areas.
- Investment Focus Areas: Logistics, supply chain, technology
- Notable Investments: Specific companies not mentioned
What's Next for Narvar?
As Narvar looks to the future, the opportunities are vast. The company plans to expand into Asia and Europe, refining its e-commerce software to support major retailers like Costco and Sephora. This expansion could significantly increase their market presence and revenue streams.
With a total of $64 million raised, Narvar is well-positioned for future fundraising. Additional rounds could help scale operations and enhance their technology. However, challenges such as competition from other retail tech providers and the complexities of international logistics remain. Navigating these hurdles will be crucial for Narvar's continued success.
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