Total amount raised
$52.7 Millions
Latest funding date
Location
Triple Whale has successfully raised funds through multiple rounds, with the latest being a Series B round closed on February 2, 2023. The company has attracted notable investors such as Elephant and Shopify Ventures.
Keep reading to explore the intricacies of Triple Whale's fundraising journey and the investors backing this innovative platform.
What Is Triple Whale?
Triple Whale, founded in June 2021, is an eCommerce operating system for Shopify brands. The company is based in Jerusalem, Yerushalayim, Israel, and was established by AJ Orbach, Ivan Chernykh, and Maxx Blank.
Triple Whale integrates data from various sources like Shopify, Facebook, and Google to help e-commerce businesses track profits, blended ROAS, LTV, and more. The platform offers a suite of tools for managing and analyzing operations, including revenue forecasting and expense tracking.
With a team of 101-250 employees, Triple Whale continues to innovate in the e-commerce space, providing valuable insights and automation to help brands make data-driven decisions.
How Much Funding Has Triple Whale Raised?
- Seed Round
- Amount Raised: $3.7M
- Date: March 2022
- Lead Investors: NFX
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and bring the concept to market, leveraging the founders' experience and processes from running their own Shopify stores.
- Series A
- Amount Raised: $24M
- Date: March 2022
- Lead Investors: Elephant
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and scale the business.
- Series B
- Amount Raised: $25M
- Date: February 2023
- Lead Investors: Elephant, NFX
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue developing AI-based tools and automation features, and to support the company's significant growth and traction.
Total Amount Raised: $52.7M. Current Valuation: Not publicly disclosed.
Key Investors
- Elephant
- Details: Elephant is a venture capital firm that focuses on early to growth-stage technology companies. They have a strong track record of investing in high-growth businesses.
- Investment Focus Areas: Technology, software, e-commerce.
- Notable Investments: Scopely, AllTrails, WayUp.
- NFX
- Details: NFX is a venture capital firm that specializes in early-stage investments. They are known for their expertise in network effects and have a portfolio of innovative startups.
- Investment Focus Areas: Technology, marketplaces, SaaS.
- Notable Investments: Lyft, DoorDash, Poshmark.
- Shopify Ventures
- Details: Shopify Ventures is the investment arm of Shopify, focusing on companies that can enhance the Shopify ecosystem. They provide strategic support to help businesses scale.
- Investment Focus Areas: E-commerce, technology, SaaS.
- Notable Investments: Loop Returns, Tapcart, Bench.
What's Next for Triple Whale?
Triple Whale is poised to capitalize on the growing demand for AI-based tools and automation in e-commerce. With a 1,400% year-over-year growth and over 5,000 brands generating $14 billion in sales, the company is well-positioned to expand its offerings, including ad copy and image generation, and the Lighthouse tool for anomaly detection.
Future fundraising opportunities seem promising, especially with strategic backing from Shopify. As Triple Whale continues to innovate, it may attract more investments to support its growth. However, the company will need to navigate challenges such as competition and maintaining data accuracy while scaling operations.
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