Carbon6 Technologies closes Series A funding, brings in C$66m

White Star Capital led the equity piece with participation from Kale Investment Fund, Benevolent Capital and MidCap Financial.

  • MidCap Financial, an affiliate of Apollo Global Management, accounted for the round’s venture debt
  • Carbon6 intends to leverage this investment to build on its international customer base by opening offices in Europe and Asia
  • It will also expand to marketplaces beyond Amazon

Carbon6 Technologies, a Toronto-based software suite for the Amazon marketplace that simplifies operational success for online entrepreneurs, has raised C$66 million in Series A financing. The round included a mix equity and venture debt.

White Star Capital led the equity piece with participation from Kale Investment Fund, Benevolent Capital and MidCap Financial. MidCap, an affiliate of Apollo Global Management, accounted for the venture debt.

Most marketplace business owners utilize between eight and 15 disparate tools to complete day-to-day operations, with varying levels of support and education. To simplify the online selling process, Carbon6, founded by Justin Cobb, Kazi Ahmed, and Naseem Saloojee, has acquired 16 software companies in 16 months (between May 2021 and September 2022).

“The e-commerce marketplace is growing quickly but highly fragmented,” says Eddie Lee of White Star Capital, in a statement. “We recognized that participating in this space would be an incredible opportunity, but that the next technology leader would need a veteran leadership team, the support of the Amazon seller community, and sufficient capital. Carbon6 undeniably had the first two, and we knew we could support the latter.”

Carbon6 intends to leverage this investment to build on its international customer base by opening offices in Europe and Asia. The company will also expand to marketplaces beyond Amazon, continuing to provide seamless omnichannel expansion opportunities to online businesses.

White Star Capital is a global multi-stage technology investment platform with offices in New York, Paris, London, Montreal, Toronto, Guernsey, Tokyo, Hong Kong, and Singapore.