DJUST, the a B2B eCommerce Software-as-a-Service (SaaS) platform, has successfully raised €12m in a Series A growth funding round.
The brainchild of Arnaud Rihiant, a founding member of Mirakl, DJUST is positioned to expedite its market expansion following this latest investment.
Led by New Enterprise Associates, Inc. (NEA), with additional support from Elaia Partners, the funding round has offered a considerable financial boost to the Paris-based B2B commerce platform. Established in 2020, DJUST has forged a name for itself by enabling professional buyers and sellers to experience frictionless buying, amplify productivity, and hasten growth.
Unlike larger B2C-oriented platforms such as Adobe Commerce, Salesforce Commerce and Shopify, DJUST’s offering is uniquely tailored to meet the demands of the B2B sector. Catering to distributors, franchisers, wholesalers, and manufacturers, it supports a range of B2B scenarios like online catalogues, B2B eCommerce, eProcurement, and Marketplace connectors.
The funding is earmarked for business expansion into new markets across Europe, the UK, and the US. Besides geographic expansion, DJUST also plans to invest more assertively in developing solutions for its core product. Furthermore, the company is looking to double its employee count, having already grown from 20 to over 40 employees in the past year.
DJUST’s success isn’t just limited to the latest funding round. Over the last year, the company has more than doubled its annual recurring revenue through over 15 new deals with leading distributors and manufacturers across Europe. It helps these businesses transition from offline to online rapidly and consolidates all their existing systems into one central platform of truth.
Arnaud Rihiant, Founder and CEO of DJUST, shared his vision for the company: “We want to free all businesses of the hassle of building, launching and running B2B commerce. That will happen when companies stop making small adjustments to outdated systems and instead embrace an integrated, modular and powerful platform. In turn, that future-proofs new growth opportunities and excellent customer service.”
The company has also garnered positive feedback from its clients. Remi Beranger, Vice President of Global Procurement & Supply Chain at deSter, commented, “We are going from decentralised to centralised with DJUST B2B Commerce. Our business processes are automated on the platform, and we can connect our ERP to the solution. This was a huge differentiator when we chose to partner with DJUST.”
Prior to this funding round, DJUST started with €4m in seed funding from European investor Elaia in 2020. As part of the latest funding round, Elaia has shown continued faith in DJUST’s potential for revolutionising B2B commerce.
Keep up with all the latest FinTech news here
Copyright © 2023 FinTech Global
