Elevate Brands Raises Additional $250M in Funding to Fuel Global Acquisitions of Amazon Marketplace Sellers
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NEW YORK & AUSTIN, Texas – (BUSINESS WIRE) – Elevate Brands, a leader in acquiring and operating third-party Amazon companies, announced today that it has raised an additional $ 250 million, bringing the company’s funding to over $ 317 million in 2021. Dollar increased. Most of the funding comes from its existing global group of technology, fintech and e-commerce executives, as well as new investors including Novel TMT, FJ Labs, the chairman of SEA (which owns the largest e-commerce platform in Southeast Asia), former CEO of The Iconic, board members of Yieldstreet and Advantia Health, co-founders of Intermix and Quadpay, and Ted Zagat, co-founder of Rimeto.
Elevate Brands has quickly gained an operational impact on its portfolio by implementing best practice branding and supply chain optimization in its portfolio of category-leading brands. The company has built a reputation for providing third-party sellers with clear and compelling exit options. Elevate Brands takes a unique data-driven approach to sourcing acquisition opportunities, using advanced algorithms and over 100 million data points to evaluate their deep pipeline. With more than 25 brands in its portfolio, the company is expanding rapidly through a targeted international acquisition strategy and has achieved average growth of almost 100% in the entire portfolio after the acquisition.
“There is strong investor interest in our business model and we intend to maintain and grow our position as a leader in this space with long-term thinking and first-class execution,” said Ryan Gnesin, CEO of Elevate Brands. “We are one of the fastest growing Amazon aggregators, and our strong post-acquisition growth over the past 18 months is testament to the quality of our team. We look forward to continuing our aggressive expansion into important international marketplaces in the coming months. ”
As an Amazon operator since 2016, Elevate Brands has a strong tradition in the market, bringing unparalleled insight and the ability to build successful businesses in one of the fastest growing sectors of the economy. The company has a no-market strategy to support the long-term growth of each brand and, with the support of its global team, plans to build legacy CPG brands that will touch consumers’ lives for years to come.
“As more aggregators enter the space, it is critical for Amazon FBA sellers to find the right partner with the business acumen to take their brands to the next level,” said Sean Glass, investor and former CEO of Advantia Health . “Elevate Brands started out as an Amazon operator and continues to show remarkable operational expertise and the quality of their team makes the transaction process smooth and transparent for sellers.”
Elevate Brands uses a data-driven approach to acquire consumer-leading Amazon companies that have achieved remarkable success in their respective categories. The team works closely with sellers to conduct a 360-degree assessment of their business, asking the right questions, assessing business and supply chain needs, and creating a comfortable, smooth transition for sellers. The company uses a streamlined underwriting process that completes within 30 days to provide sellers with a hassle-free, lucrative exit. Elevate Brands leverages its global network to provide new brands with the unique ability to scale quickly and achieve sustainable long-term growth.
About Elevate brands
Elevate Brands was founded in the fourth quarter of 2016 and is opening up the high-growth Amazon Third Party Seller Marketplace, a $ 300 billion marketplace that is expected to double over the next five years. Elevate Brands specializes in acquiring, launching, and operating leading Amazon consumer brands. Elevate Brands has a global team of industry leaders headquartered in New York and Austin, TX. Its broad network of resources gives brands a unique opportunity to scale quickly. The company structures its underwriting process to run quickly and close the deal in weeks instead of months. The company’s founders previously built their own brands on Amazon and gained valuable insights into the challenges sellers face.
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