E-commerce technology developer Scalefast has bagged $8m in its Series A led by Benhamou Global Ventures.
Other contributions to the round came from Adara Ventures, B&Y, French Partners and CIC Capital.
Scalefast offers a digital commerce platform that uses AI to support retailers with scaling and increasing revenue for online shops. Through the technology, clients can access logistics, customer support, online payments, and tax and fraud prevention. International revenues are also opened by the platform, ensuring necessary regulations are met.
Los Angeles-based Scalefast provides online retailers with solutions for social media signing in, local currency and language, checkout cross-sell and up-sell, exclusive bundling, subscriptions and monthly recurring revenue, and loyalty programs.
Last year, the company launched a direct-to-consumer shopping experience for more than 20 major product launches, and surpassed 14 million orders processed across 240 countries.
Scalefast hopes to use the capital to expand its services and support to current clients, as well as furthering the development of its e-commerce personalisation solution.
Scalefast CEO and co-founder Nicolas Stehle said, “Using machine learning and consumer behaviour data of known and unknown website visitors, Scalefast empowers brands to understand what motivates consumers on a deep level and then, to act on those observations in real-time, allowing them to develop an impactful, one-to-one relationship that simply cannot be formed when selling through intermediaries like Amazon.”
Benhamou recently took part in the $10m Series C round of RegTech 100 company IdentityMind Global.
Earlier in the month, fellow e-commerce software developer Moltin raised $8m in its Series A round, which was led by Underscore VC. The Boston-headquartered company provides an API-based product to help retailers digitise their store and access online payments.
Last month, Shoptalk and Commerce Ventures launched the $1m investment vehicle Shoptalk Ventures to back around 20 e-commerce and retail technology companies.
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