Starbucks, Sony, General Mills and Levi’s are all globally recognized brands, but what else do they have in common? They all rely on Stackline to help with their e-commerce business.
On Tuesday, e-commerce software startup Stackline announced that it received a $130 million strategic investment from equity firm TA Associates. This comes about six months after the company’s latest funding — a $50 million Series A from November of 2020.
At this point, most people know how important e-commerce is. People have been making more and more purchases online over the past several years, and that trend accelerated due to the COVID-19 pandemic. Now, consumers have come to expect that they can buy most of the products they love online.
Although many legacy brands have sold their products for generations and built up name recognition, that’s not to say they couldn’t use some help with their e-commerce presence — and Stackline does just that.
Stackline has built an all-in-one platform for retailers that provides things like e-commerce analytics, retail market intelligence, advertising campaign management and research on shopper trends. The company can also automate many of these features, to allow brands to scale operations without spending extra time and money.
“Stackline is transforming how brands and retailers — new and old — do business online, and we believe the company is well-positioned to disrupt the retail industry and make a lasting impact in how brands engage consumers,” Jason Mironov of investor TA said in a statement.
“We are thrilled to partner with TA as we prepare to introduce a series of exciting product innovations to help brands connect with shoppers, build awareness, inspire loyalty and drive continued competitive advantages in the retail industry,” Stackline founder and CEO Michael Lagoni added. “TA brings tremendous value with its deep domain expertise and proven track record with some of the world’s leading companies.”
This investment comes after a year of growth for the company. Stackline recently partnered with Walmart, Instacart and Amazon to create new retail and advertising features for its platform. It also grew its company by 75 percent over the past year.
The investment will help Stackline continue that growth, through new features, partnerships and hiring. The company had about 95 employees last November, but it expects to pass the 150-person mark at some point this year. It currently has over a dozen open job listings for its Seattle headquarters, and a handful of additional openings for its offices in Minneapolis and London.