E-commerce firm Stackline raises $130M in latest giant funding round for Seattle-area startups
New funding: E-commerce startup Stackline landed $130 million from TA Associates as part of a Series B round. It comes less than a year after Stackline raised a separate $50 million round. It’s also one of the largest funding rounds for a Seattle-area startup this year, coming on the heels of massive cash infusions for companies such as Rec Room, Outreach, Highspot, Rad Power Bikes, and Icertis.
Stackline’s tech: The company helps more than 2,000 brands including Sony, Levi’s, Starbucks and others with their e-commerce businesses, providing market data, advertising automation, operations management tools, and more to bolster how companies sell products online. It has grown amid the pandemic as more people shop online and marketplace platforms such as Amazon, Walmart, and Instacart see increased activity. Stackline has partnerships with Amazon and Instacart.
Another raise: Stackline just raised $50 million in November, which the company described as its first outside capital. The company declined to provide revenue metrics. It grew headcount by 75% over the past year and expects to have 150 employees by the end of 2021. Stackline has been profitable since it started in 2014.
CEO quote: “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 CEO Michael Lagoni said in a statement.
Seattle e-commerce startups: Stackline is among several startups in the Seattle region — home to Amazon, Starbucks, Costco, Zulily, and more giant retailers — aiming to help brands with their online businesses. Others include InsightLeap, Ideoclick, Replenium, Downstream, Shipium, Fabric, and SoundCommerce.