AppHub, a New York-based provider of an e-commerce enablement platform serving merchants across e-commerce platforms, received a $95M strategic growth investment.
PSG made the investment, joining Silversmith Capital Partners.
In conjunction with the investment, AppHub acquired Boost, an AI-powered search and discovery tool, to enhance its portfolio of software solutions that enable e-commerce merchants to launch, grow, and scale their businesses. Through AI-driven search, filtering, and product recommendations, Boost helps customers find what they’re looking for, increasing conversion and AOV (average order value). Boost has generated more than $16 billion in sales for more than 14,000 stores to date.
The company intends to use the funds to support its growth strategy to expand product offerings, enter new geographies and drive merchant success, both organically and through M&A.
Led by CEO Kris Eng, AppHub is a software platform for e-commerce merchants that brings together software applications to drive merchant growth. Its product suite consists of more than 25 point solutions used by over 100,000 merchants on platforms such as Shopify, WooCommerce, and BigCommerce.
Before Boost, the company completed its acquisition of REVIEWS.io, an online review and UCG management platform.
FinSMEs
26/07/2023