Nautical Commerce, a New York-based provider of a on-demand multi-vendor platform for marketplaces, raised $30M in Series A funding.
The round was led by Drive Capital, with participation from returning investors Accomplice Ventures and Golden Ventures. Masha Khusid from Drive Capital will join the Nautical board of directors.
The company intends to use the funds to further develop its multi-vendor marketplace platform, expand its reach into new markets, and grow its engineering, product, customer success, and sales and marketing teams. Nautical plans to add over 40 new team members over the next 18 months.
Led by CEO Ryan Lee, and COO and CTO Bhavin Shah, Nautical Nautical Commerce Nautical is a multi-vendor marketplace platform for brands, retailers, B2B companies, and startups to launch and scale an online marketplace. Its goal is to empower businesses to build marketplaces by enabling them to reach more customers without the added cost of custom software, streamlining the onboarding of vendors, and making it easy to build the platform in days.
Nautical experienced significant growth over the past six months. This includes a notable increase in revenue, and the addition of new customers from across the U.S., Canada, United Arab Emirates, Australia, and France spanning several industry verticals, such as fashion, health, automotive, home goods, sustainable goods, and manufacturing.
FinSMEs
29/06/2022