- Capital from this round will be used towards building a larger presence in North America, tech innovation and product launches
- Plobal Apps allows D2C brands to build and launch their mobile apps, boost downloads, engage customers and scale revenues
- Atul Poharkar founded Plobal Apps in 2016
Plobal Apps, a Toronto-based no-code mobile app platform for e-commerce stores, announced the completion of a C$8.5 million round, co-led by Elevation Capital and Bessemer Venture Partners. The funding round brings the total capital raised to up to C$14 million.
Plobal Apps aids D2C brands to build and launch their mobile apps, boost installs, engage with customers and scale revenues.
The new capital raised will be used to expand Plobal Apps’ presence in North America and for further tech innovation and new product launches.
“At Elevation, we have always been excited by the potential D2C brands hold. However, with ever increasing digital marketing costs, increasingly difficult customer targeting and marketing, brands need to own and monetize these customers better. Recent privacy related changes have only made these tailwinds stronger,” said Akarsh Shrivastava, principal at Elevation Capital in a press release.
Elevation Capital is an early-stage VC firm headquartered in Gurgaon, India. Bessemer Venture Partners, the co-leader in the round, is a San Francisco-based firm, with investors and partners in Tel Aviv, Silicon Valley, San Francisco, New York, London, Boston, Beijing and Bangalore.