Elevate Brands Raises Additional $250M in Funding to Fuel Global Acquisitions of Amazon Marketplace Sellers
NEW YORK & AUSTIN, Texas--(BUSINESS WIRE)--Jul 12, 2021--
Elevate Brands, a leader in acquiring and operating Amazon third-party businesses, today announced it raised an additional $250 million, bringing the company’s funding total to over $317 million in 2021. The majority of the funding comes from its existing global group of technology, fintech and eCommerce business leaders, as well as new investors that include Novel TMT, FJ Labs, the chairman of SEA (which owns Southeast Asia’s largest eCommerce platform), the former CEO of The Iconic, board members of Yieldstreet and Advantia Health, the co-founders of Intermix and Quadpay, and Ted Zagat, the co-founder of Rimeto.
Elevate Brands has quickly gained operational leverage across its portfolio by implementing best practice branding and supply chain optimization to its portfolio of category-leading brands. The company has developed a reputation of offering clear and compelling exit opportunities to third-party sellers. Elevate Brands takes a unique data-driven approach to sourcing acquisition opportunities, where they use advanced algorithms and over 100M 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 achieving close to 100% average post-acquisition growth across its portfolio.
“There is strong investor interest in our business model, and we intend to maintain and accelerate our position as a leader in the space with long-term thinking and world-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 a testament to the quality of our team. We are excited to continue our aggressive expansion into key international marketplaces over the coming months.”
As an Amazon operator since 2016, Elevate Brands has a strong heritage in this market, bringing unparalleled insights and the ability to build successful businesses in one of the fastest-growing sectors of the economy. The company has a marketplace-agnostic strategy to support each brand’s long-term growth and plans to build legacy CPG brands that will touch consumer lives for years to come through the support of its global team.
“With more aggregators entering 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. “Having started as Amazon operators, Elevate Brands 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 acquiring consumer-leading Amazon businesses that have garnered notable success in their respective categories. The team works closely with sellers to do a 360 evaluation of their business, asks the right questions, evaluates business and supply chain needs and creates a comfortable, smooth transition for sellers. The company uses a streamlined underwriting process that is finalized within 30 days to offer a hassle-free lucrative exit for sellers. Elevate Brands utilizes its global network to provide new brands with a unique ability to scale quickly and achieve sustainable long-term growth.
About Elevate Brands
Founded in Q4 2016, Elevate Brands taps into the high-growth Amazon Third Party Seller Marketplace, a $300 billion marketplace that is expected to double in the next five years. Elevate Brands specializes in acquiring, launching and operating leading consumer Amazon brands. Elevate Brands has a global team of industry leaders with headquarters in New York and Austin, TX. Its broad network of resources provides a unique ability for brands to scale quickly. The company structures its underwriting process to execute quickly, closing the deal within a matter of weeks, not months. The company founders previously built their own brands on Amazon, bringing valuable insight to the challenges that sellers face.
View source version on businesswire.com:https://www.businesswire.com/news/home/20210712005595/en/
CONTACT: Tiffany Rodriguez
KEYWORD: UNITED STATES NORTH AMERICA TEXAS NEW YORK
INDUSTRY KEYWORD: SUPPLY CHAIN MANAGEMENT ONLINE RETAIL RETAIL
SOURCE: Elevate Brands
Copyright Business Wire 2021.
PUB: 07/12/2021 11:30 AM/DISC: 07/12/2021 11:31 AM