Total amount raised
$130.4 Millions
Latest funding date
01/01/2020
Location
NewStore has successfully raised significant funding over multiple rounds, establishing itself as a key player in the unified commerce platform space. The platform offers a mobile-first shopping experience, integrating in-store, online, and mobile touchpoints to enhance customer satisfaction and drive ROI.
Keep reading to explore the intricacies of NewStore's fundraising journey and the investors backing this innovative platform.
What Is NewStore?
NewStore, founded in 2015, is headquartered in Boston, Massachusetts. The company was established by Stephan Schambach, a pioneer in the e-commerce industry.
NewStore offers a unified commerce platform that integrates in-store, online, and mobile shopping experiences. This platform includes omnichannel POS, consumer shopping apps, order management, inventory management, and clienteling tools.
With a team of over 200 employees, NewStore aims to enhance customer satisfaction and drive ROI for global brands.
How Much Funding Has NewStore Raised?
- Series A
- Amount Raised: $50 million
- Date: January 2016
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch the unified commerce platform.
- Series B
- Amount Raised: $80 million
- Date: July 2021
- Lead Investors: Activant Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance platform capabilities.
NewStore has raised a total of $130 million. The current valuation is not publicly disclosed.
Key Investors
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in early-stage and growth-stage companies. Founded in 2000, it has offices in the United States and Europe.
- Investment Focus Areas: Technology, healthcare, consumer services
- Notable Investments: Airbnb, Stripe, Snap
- Activant Capital
- Details: Activant Capital is a growth equity firm that partners with high-growth companies. It focuses on long-term investments and strategic support.
- Investment Focus Areas: E-commerce, fintech, logistics
- Notable Investments: Better.com, Bolt, Deliverr
- Stephan Schambach
- Details: Stephan Schambach is the founder of NewStore and a serial entrepreneur in the e-commerce space. He previously founded Demandware, which was acquired by Salesforce.
- Investment Focus Areas: E-commerce, retail technology
- Notable Investments: Demandware, Intershop
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce, focusing on enterprise cloud companies. It aims to accelerate the growth of the next generation of enterprise technology.
- Investment Focus Areas: Cloud computing, enterprise software, AI
- Notable Investments: Zoom, DocuSign, Twilio
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm. It invests in high-growth technology and software companies.
- Investment Focus Areas: Software, internet, data
- Notable Investments: Shopify, Twitter, Qualtrics
What's Next for NewStore?
NewStore stands at the cusp of significant growth opportunities, driven by the increasing demand for omnichannel retail solutions. The integration of their platform with major systems like SAP Store opens doors to new partnerships and collaborations, potentially expanding their market reach. With a 19% year-over-year sales uplift and a 40x return on investment for clients like UNTUCKit, the company is well-positioned to capitalize on these trends.
Given their current Series B funding stage, NewStore is likely to pursue additional rounds to support this growth. Future fundraising could see them moving towards Series C, attracting more investors eager to tap into the booming e-commerce and retail technology sectors. However, challenges such as intense competition and the need to keep pace with rapid technological advancements could pose hurdles. Managing growth effectively will be crucial as they navigate these complexities.
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