EQL, a Melbourne, Australia-based hype commerce startup, raised AUSD$25M in funding.
The round was led by Insight Partners and AirTree Ventures with participation from Guillaume Pousaz’s Zinal Growth, Harry Stebbings’ investment fund, 20VC; Sam Kroonenburg, Founder of A Cloud Guru; and the family office of Michael Rubin, CEO of Fanatics and Co-Owner of the Philadelphia 76ers.
The company intends to use the funds to strengthen its global sales and customer teams, as well as further develop its infrastructure and AI smarts.
Led by CEO Andrew Lipp, EQL is a hype commerce platform that retailers use to manage high demand product launches. Its hype infrastructure prevents sites from crashing, slows down scammers and bots, and delivers a run fair launch experience. To date, EQL has supported over 1,000 launches, connecting millions of hopeful fans with products they love. While initially focused on the sneaker space, EQL now also supports luxury brands across apparel, alcohol and accessories, and plans to soon expand into gaming, ticketing and the digital collectives space.
Early adopters including Footlocker, Sullivans Cove whisky and Crocs use the platform to manage their limited release product launches. It is currently live in Australia, New Zealand, Malaysia, Spain, the UK, America, Singapore, France, Netherlands, Macau, and Hong Kong.
FinSMEs
12/04/2022