Tradeswell, an ecommerce platform, has raised $15.5 million in Series A funding. SignalFire led the round with participation from Construct Capital, Allen & Company LLC and The Emerson Group.
BALTIMORE, MD (January 13, 2021) – In 2020, shopping changed forever. Consumers were already shifting their spend to online channels, but the pandemic accelerated the trend by roughly five years. To empower brands to fast-forward their growth across digital marketplaces, Tradeswell launched its next-generation ecommerce platform in October, and today announced the close of a $15.5M Series A round of funding to fuel its expansion.
The Series A is led by SignalFire, the firm that was also the lead investor of Tradeswell’s seed round just a few months ago. Construct Capital is increasing it’s position in the company, as well, and Allen & Company LLC and The Emerson Group are joining the round, creating a diverse collection of financial partners that demonstrate the breadth and depth of Tradeswell’s vision. With the close of this round together with the previous seed round, Tradeswell has raised approximately $18.8M.
Tradeswell’s operating system for digital marketplace brands powered a strong Q4 which for many businesses was the most critical season in their history. At launch, the company already had 100 brands on the platform, and that quickly leapt to over 150, in-house teams were able to integrate data across marketing, retail, inventory, logistics, forecasting and financials – and take action to boost marketplace sales, in time for it to matter.
“With the explosion of ecommerce over the past year, Tradeswell is perfectly positioned to help brands manage the complexity of online sales across an ever-increasing number of platforms and marketplaces,” said Chris Farmer, CEO and founder of SignalFire. “Paul and his team bring together a unique blend of experience in data, marketing and logistics to address the challenges of today and a rapidly evolving market in the years ahead with a central command center to optimize profitable growth.”
Leading up to and throughout the holiday season, brands leveraged the platform to automate and scale acquisition of new customers while also optimizing for key metrics like net margin and lifetime value. Clients range from iconic CPG brands with broad product portfolios like McCormick to niche brands such as Tony’s Chocolonely.
“When we launched, our core promise was to democratize the data, fix the broken economics of ecommerce and empower brands to grow profitably,” remarked Paul Palmieri, Tradeswell co-founder and CEO. “Our platform is already delivering on this promise, but we are just getting started. With this significant infusion of capital, we will further enable the efficient trading of goods across an explosion of marketplaces, delivering cross-channel and cross-function visibility, insights and optimizations that ultimately deliver economic power to brands. Our core team at Tradeswell helped to catalyze the transformation of media buying nearly a decade ago with programmatic, which now comprises 85% of ad spend. We look to make a similar transformation to real-time commerce happen for marketplace brands.”
Tradeswell intends to deepen its investment in artificial intelligence, quantitative trading and ecommerce integrations. The company is doubling down on the features of the platform that have been proven to be the most valuable to its current and target clients.The team also plans to add to its current roster of talented professionals and is currently hiring for key roles across all departments, such as data science, engineering and sales. To see all open positions, go to www.tradeswell.com/careers.
“The unplanned acceleration of ecommerce demand over the past 10 months has demonstrated the lack of automation in the supply chain, ecommerce and even the logistics industries. We strongly believe brands need to modernize their processes and reduce the reliance on manual analysis and optimization. Tradeswell is expanding its footprint in this market at a time when this sophistication is urgently needed,” said Dayna Grayson, co-founder and co-managing partner of Construct Capital.
Tradeswell is the operating system for real-time commerce. We’re on a mission to empower growth by making ecommerce actions more informed, more coordinated, faster, and more profitable – for everyone.
We do this through our quantitative trading platform that uses real-time algorithms and insights, to reveal and execute the optimal actions companies need to grow. We put the power of data science at the fingertips of our customers, empowering their decision-making and giving them unprecedented control.