Total amount raised
$65.1 Millions
Latest funding date
6/1/2021
Location
Tapcart has successfully raised significant funding over multiple rounds, with notable investors including SignalFire and Shopify Ventures. The platform empowers e-commerce merchants to create and manage mobile apps, enhancing customer engagement and driving sales.
Continue reading to delve into the details of Tapcart's funding journey and the strategic investors supporting this innovative SaaS platform.
What Is Tapcart?
Founded in 2017, Tapcart is a SaaS platform based in Santa Monica, California. The company specializes in enabling e-commerce merchants to create and manage mobile apps for their brands.
Tapcart was established by Eric Netsch and Sina Mobasser. The platform integrates seamlessly with Shopify, providing tools for brands to enhance customer engagement and drive sales.
With a team of 101-250 employees, Tapcart continues to innovate in the mobile commerce space, serving thousands of Shopify brands globally.
How Much Funding Has Tapcart Raised?
- Convertible Note
- Amount Raised: $285K
- Date: June 2017
- Lead Investors: Luma Launch
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their platform and initial market entry.
- Seed Round
- Amount Raised: $850K
- Date: December 2017
- Lead Investors: Act One Ventures, Amplify.LA
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the team.
- Seed Round
- Amount Raised: $4M
- Date: July 2019
- Lead Investors: Greycroft
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Series A
- Amount Raised: $10M
- Date: May 2020
- Lead Investors: SignalFire
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market reach.
- Series B
- Amount Raised: $65M
- Date: June 2021
- Lead Investors: Left Lane Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand go-to-market strategy, accelerate team growth, and launch new products.
Total Amount Raised: $80.135M. Current Valuation: Not publicly disclosed.
Key Investors
- SignalFire
- Details: SignalFire is a venture capital firm that leverages data and technology to support its portfolio companies. They focus on providing operational support and resources to help startups scale.
- Investment Focus Areas: Technology, healthcare, consumer products
- Notable Investments: Grammarly, Ro, Frame.io
- Shopify Ventures
- Details: Shopify Ventures is the investment arm of Shopify, a leading e-commerce platform. They invest in companies that enhance the Shopify ecosystem.
- Investment Focus Areas: E-commerce, SaaS, technology solutions
- Notable Investments: Loop Returns, Bench, Pipe
- Left Lane Capital
- Details: Left Lane Capital is a venture capital firm that focuses on high-growth internet and consumer technology companies. They aim to partner with companies that have the potential for significant market impact.
- Investment Focus Areas: Consumer internet, technology, high-growth startups
- Notable Investments: GoStudent, Tovala
- Greycroft
- Details: Greycroft is a venture capital firm that invests in early and growth-stage technology companies. They have a diverse portfolio across various sectors.
- Investment Focus Areas: Internet, mobile, technology
- Notable Investments: Venmo, The RealReal
- Act One Ventures
- Details: Act One Ventures is an early-stage venture capital firm that focuses on technology companies. They aim to support startups through their initial growth phases.
- Investment Focus Areas: Early-stage technology, SaaS, consumer products
- Notable Investments: Boulevard, Ordermark
What's Next for Tapcart?
Tapcart stands at the cusp of significant growth opportunities, driven by the increasing shift towards mobile commerce. With over $1.2 billion in merchant GMV transacted in the last year, the platform is poised to expand its go-to-market strategy, accelerate team growth, and introduce innovative products like marketing automation and personalization tools.
Future fundraising seems promising, given the strong backing from investors like Shopify and Left Lane Capital. However, Tapcart will need to navigate challenges such as intense competition and the need for continuous innovation to maintain its edge in the rapidly evolving mobile commerce landscape.
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