MikMak, an ecommerce marketing and insights platform, has raised $10 million in Series A funding. Wavecrest Growth Partners led the round.
NEW YORK, NY, August 3, 2020 – Leading eCommerce marketing and insights platform MikMak announces today the close of a $10M Series A funding round led by Wavecrest Growth Partners. Existing investors Luminari Capital and Brave Ventures also participated and new investment came from Lunch Partners, Madrona Venture Group, Bazaarvoice founder Brett Hurt, Hooklogic founder/CEO Jonathan Opdyke and founding CRO John Roswech, Foursquare CEO David Shim and Kargo CEO Harry Kargman. As part of the financing, Wavecrest Growth Partners’ Co-Founder Deepak Sindwani has joined the MikMak Board of Directors.
MikMak announced the evolution of its core business in February, becoming the first e-commerce platform for multichannel brands and offering real-time insights and a holistic view of activity across major online retailers like Amazon, Target and Walmart and channels like TikTok, Pinterest, and programmatic media. From March through June, MikMak saw 50% revenue growth as consumer demand for eCommerce reached a fever pitch during COVID-19 and brands raced to keep up with the evolving retail landscape. As a trusted partner, MikMak has helped Fortune 1000 brands like Colgate, Dreyer’s Grand Ice Cream, Hershey, The J.M. Smucker Company, L’Oreal, P&G, Rémy Cointreau, William Grant and Sons, and more to both transition to and thrive with an online-first retail strategy.
“As consumer demand for eCommerce accelerates in unprecedented ways, Fortune 1000 brands will need eCommerce intelligence across media channels and retailers to protect and grow market share, this is where MikMak excels,” says MikMak founder and CEO Rachel Tipograph. “With the new financing and support from our partners, MikMak will be able to accelerate our product roadmap, double down on our data and insights platform, and expand our service offering to support international customers.”
“Our mission at Wavecrest Growth Partners is to enable B2B technology companies to accelerate and maximize their market opportunity,” said Deepak Sindwani, Co-Founder and Managing Partner of Wavecrest Growth Partners. “Rachel has a deep understanding of how to support and grow multichannel brands across all areas of their business, and we are thrilled to partner with MikMak and support the company’s continued growth.”
MikMak will use the funding to gain market share and significantly advance their product roadmap. The company will also be expanding its retail footprint, offering services to international companies, and investing the funding back into its data and insights platform for continued growth and development.
To learn more about the new MikMak and transform your eCommerce business, visit MikMak.tv.
MikMak is an eCommerce marketing and insights platform that allows Fortune 1000 brands to create shopping experiences connected to 200+ online retailers, and as a result, brands can improve marketing effectiveness, gain market share over competitors, strengthen positioning with retailers, and go to market smarter.
MikMak’s investors include Wavecrest Growth Partners, VaynerMedia, Luminari Capital, SLOW Ventures, UTA Ventures, Brave Ventures, Lunch Partners, Madrona Venture Group, Bazaarvoice founder Brett Hurt, Hooklogic founder/CEO Jonathan Opdyke and founding CRO John Roswech, Foursquare CEO David Shim and Kargo CEO Harry Kargman.
About Wavecrest Growth Partners:
Based in Boston, Wavecrest Growth Partners is a growth equity firm focused on investing in and partnering with leading B2B software and technology-enabled services companies. Wavecrest targets investments in profitable, high-growth technology companies with proven business models and brings to bear a unique combination of investing and operating expertise. Representative investments including Building Engines, SpinCar and BigTime Software, EDITED, and Stirista. Wavecrest’s team has decades of collective experience in growth-stage B2B technology companies, including numerous successful outcomes. For more information, visit wavecrestgrowth.com.