Profound Commerce raises $53 million to acquire and turbocharge e-commerce brands

[ad_1]

Published: October 13, 2021 at 8:00 a.m. CDT|Updated: 2 hours ago

Austin, Texas and NEW YORK, Oct 13, 2021 / PRNewswire / – Profound Commerce, an acquirer and operator of third-party Amazon companies, announced today that it has secured itself $ 53 million in a combined equity and debt financing from Atalaya Capital Management LP, a private credit and special opportunity investment manager based in new York. The proceeds from the Facility will be used to acquire additional e-commerce brands in line with Profound Commerce’s category-driven strategy and to expand Profound Commerce’s operational platform.

Left to right: Matt Howitt (CEO and Founder), Nirav Bhagat (CMO and Co-Founder)

The new funding underscores Atalaya’s confidence in Profound Commerce’s ability to find, operate and grow Amazon-native e-commerce brands in a profitable and capital-efficient manner.

“We have been taking over and building Amazon brands since 2018. While others have subsequently brought in and raised enormous amounts of capital, we have instead focused on building the processes and intellectual capital to maintain the brands we have acquired over the long term, “said Matt Howitt, CEO & Founder of Profound Commerce. “We are grateful to have Atalaya Capital Management as an investment partner and to share our views. We are pleased to be able to offer even more sellers who are active in our target categories and regions convincing exit opportunities with this financing. “

“Atalaya is excited to partner with Profound Commerce and to support the team’s efforts to create a superior operating platform for e-commerce brands. Native ecommerce brands will stay in the marketplace, and Profound Commerce has proven it has what it takes to add value in this space, “said Matt Spiro, Managing Director, Atalaya Capital Management LP.

Profound Commerce uses a flexible and data-driven approach to acquiring Amazon companies that are successful in the consumer recreational and medical device categories. The team works quickly, fairly and cooperatively with sellers to create a smooth transaction and integration. Offers are determined quickly and lucrative exits are achieved in 30 days. Sellers are impressed with Profound Commerce’s ability to get the hair-raising details of running a brand right, and Profound Commerce’s in-depth knowledge of ecommerce, Amazon, digital marketing, and supply chain. Profound’s track record after acquiring 100% Growth shows its commitment to long-term brand investing.

Smith, Gambrell & Russell, LLP acted as legal advisor to Atalaya Capital Management. Ropes & Gray LLP and Jones & Spross, PLLC acted as legal advisor to Profound Commerce.

– About sound trading
Profound Commerce is a privately owned, rapidly growing brand holding company that purchases, markets and operates a portfolio of next generation consumer brands. Well-founded commerce brands benefit from a superior marketing, operations, and financial platform with experienced e-commerce hands on top. Profound Commerce is headquartered in Austin, TX and has an additional presence in Cebu City, Philippines. More information is available at www.profoundcommerce.com.

– About Atalaya Capital Management
Atalaya Capital Management is a privately held, SEC registered alternative investment advisory firm. Atalaya is primarily focused on personal loan and special opportunity investments in three main asset classes – specialty finance, real estate and corporate. Atalaya was founded in 2006 and is headquartered in New York City and has about $ 6 billion in assets under management. More information is available at http://www.atalayacap.com.

– media contact
Nirav Bhagat
media@profoundcommerce.com

Sound trading

View the original content to download multimedia:

SOURCE Deep trading

The above press release is courtesy of PRNewswire. The views, opinions, and statements contained in the press release are not endorsed by, nor do they necessarily reflect those of Gray Media Group, Inc.

[ad_2]