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Tradeswell, which launched in October 2020, announced on January 13th that it has raised $ 15.5 million in Series A funding.
Co-founder and CEO Paul Palmieri, who previously headed digital advertising company Millennial Media, is now part of TechCrunch’s parent company, Verizon Media. According to him, the e-commerce market today is the same as the online advertising market when he ran Millennial, and needs more optimization and automation.
Tradeswell focuses on six elements of e-commerce business: marketing, retail, inventory, logistics, forecasting, lifetime value and finance. Improving these factors is essential for e-commerce companies to not only increase customer clicks and purchases, but also increase net income. Tradeswell fully automates some of these processes, such as the purchase of online ads.
Tradeswell cites a personal care brand for sale on Amazon Prime Day as an example of its achievements. The brand doubled sales and increased profits by 67% compared to last year’s Prime Day.
Tradeswell has raised a total of $ 18.8 million (about 1.96 billion) so far. Series A is led by SignalFire, and the company is also leading the Tradeswell seed round. In addition, Construct Capital, Allen & Company, and The Emerson Group also participated.
Chris Farmer, founder and CEO of SignalFire, said in a statement: “With the explosive growth of e-commerce last year, Tradeswell is in a perfect position to help manage the complexity of online sales as brands sell on different platforms and marketplaces. Palmieri) and his team have a unique combination of data, marketing and logistics to address today’s and tomorrow’s rapidly evolving market problems. What they offer is to optimize profitable growth. It’s the central command center for. ”
With the new funding, Tradeswell will continue to invest in products and new integrations will “digest” more types of data, allowing more real-time decision making, Palmieri said. ..
By the time Tradeswell launched publicly in 2020, it already had 100 customers, now reaching 150. Palmieri expects the trend of shopping to shift to e-commerce to take hold after the pandemic.
“Some people go back to their previous state, others stay online. In the middle, you don’t have to worry about it. For example, it’s as convenient as a convenience store, coexistence of e-commerce and physical stores, and mobile. There are many topics, such as ordering and instacart-style e-commerce, but none of them are so important, “Palmieri said.
Rachel Maga is a technology journalist currently working at Globe Live Media agency. She has been in the Technology Journalism field for over 5 years now. Her life’s biggest milestone is the inside tour of Tesla Industries, which was gifted to her by the legend Elon Musk himself.