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The boom in east - Commerce Department post - pandemic meant shops moved online . However , some merchants end up with dozens of separate app supplier to accommodate everything from provision chains , to inventory , to marketing . The founders of Shop Circlerealized thisand either built orboughtmany such apps . The company has now raise $ 60 million in a Series B fundraise led byNextalia Venturesin order to scale up this strategy .
With this financing , Shop Circle has also completed the skill of Aiden , an AI - power , “ guided - sell ” software used by such e - mercantilism giant as LG , Prenatal , and Intersport , among others .
Shop Circle claim its year - on - yr revenues have increase by 110 % , which helped it raise funds , as did its focus on commerce - centrical product powered by the increasing power of generative AI consolidation . It also has been profitable for two successive years .
“ Our principal answer range from AI - driven mathematical product discovery , primarily for Department of Commerce , up - selling , reassessment direction , inventory management , and the strength is that all the software system comes together under one incorporate Shop Circle program , ” said CEO and atomic number 27 - founder Luca Cartechini , who co - founded the society with Luca Cartechini .
ask about their competition , he pronounce : “ We do have several competitor for each of the class … But none of them have all the products under one political program . ”
In fact , part of Shop Circle ’s success lies in its deep consolidation with Shopify : “ Shopify is a partner for us and we ’re the magnanimous provider of resolution in the Shopify app store , basically the App Store of Shopify , ” he said .
In a statement , Francesco Canzonieri , CEO of Nextalia said : “ Shop Circle stands out in the industry with its modern plan of attack to delivering a unified B2B software system suite . ”
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extra participants in this funding round included Endeavor Catalyst , along with existing investors such NFX , QED Investors , 645 Ventures , 3VC , and i80 Group .
This latest fundraising follows a $ 120 million 2023 wage hike that was extend by 645 Ventures and 3VC .
