Funding will enhance the AI based all-in-one solution that makes Sellics the market leaderNEW YORK, Sept. 17, 2019 (GLOBE NEWSWIRE) -- If eCommerce is the future of retail, and Amazon is the future of eCommerce, then Sellics, the leading eCommerce ...
Funding will enhance the AI based all-in-one solution that makes Sellics the market leader
NEW YORK, Sept. 17, 2019 (GLOBE NEWSWIRE) -- If eCommerce is the future of retail, and Amazon is the future of eCommerce, then Sellics, the leading eCommerce growth software used by thousands of brands and agencies to succeed on Amazon, has a very bright future indeed. That’s why Frog Capital has invested $10 million in Sellics, which already manages billions of dollars in Amazon marketplace revenue, Frog Capital and Sellics announced today.
The co-founders, who launched Sellics as a bootstrapped company in 2014 with just enough money to cover three months’ rent, noticed a fundamental shift in eCommerce: consumers had begun to bypass Google in favor of searching for products on Amazon first.
“Amazon has become one of the most important eCommerce channels for us,” said Noble House Furniture Head of E-Commerce Chris Wagner. “If your products don’t appear at the top, nobody buys you. If your inventory gets too low, you’ll lose again. If you don’t understand your specific product performance, you don’t know how much you should spend on advertising. And we all know what happens if you fail to respond to negative reviews in a timely fashion. Only Sellics provides an all-in-one, integrated view of SEO, advertising and ROI, Buy Box monitoring and review management.”
As one of the first companies to bring Amazon SEO software to the market, Sellics soon offered brands a full set of solutions across the full eCommerce value chain, including analyzing profit, managing reviews, managing inventory, and optimizing Amazon Advertising campaigns.
“Amazon has built a fully integrated eCommerce funnel,” said Frog Capital Senior Partner Jens Düing, who led the investment. “All the steps of the modern consumer buying journey — from awareness through to the purchase — happens within the Amazon ecosystem. Brands and agencies need an integrated solution that helps them understand and respond to the new consumer behaviour. Sellics provides the crucial synergies throughout the full eCommerce value chain and applies sophisticated Artificial Intelligence to grow all parts equally. This is why it became, based on our research, Amazon’s largest advertising partner in such a short period of time.”
Sellics already has thousands of clients across sellers, vendors, and agencies, mainly in the US and Europe. A large proportion of their clients are big consumer brands who sell direct to Amazon as part of the Amazon Vendor program. As the Amazon 3P Marketplace continues to grow, SMBs also find themselves in need of an integrated all-in-one solution to help them optimize their Amazon channels and grow their eCommerce share. Digital agencies, following the market trends, are also under pressure to maximize profits for their clients selling on Amazon, and Sellics also offers a customized solution for their needs.
“We now have 100 employees, with headquarters in New York and Berlin,” said Sellics CEO and co-founder Franz Jordan. “By remaining focused on helping our clients succeed on Amazon, we’ve been able to grow fast. Brands and agencies are just starting to realize the significant opportunities of the Amazon marketplace, which is redefining the rules of eCommerce. We’re excited to build our next chapter with Frog Capital, whose scale-up expertise is already adding real value alongside their investment. We will further invest in our AI-based growth software, enhancing our machine-learning automation algorithms and advanced predictive insights to help our clients maximize their Amazon success and stay ahead in the ever-changing eCommerce landscape.”
Sellics is the leading eCommerce growth software used by thousands of brands and agencies to succeed on Amazon. Sellics’s vision is a smart and integrated All-In-One solution which empowers a holistic optimization across the full eCommerce value chain. Clients including Lego, Unilever, Dentsu Aegis and Bosch use the AI-based software to drive sales and market share on Amazon, supported by predictive insights and automation based on cutting edge machine-learning algorithms.
About Frog Capital
Frog is a specialist European software investor, investing in companies at the Scale-Up stage. They invest in businesses that have proven product-market fit, strong momentum and positive unit economics, typically with €3m+ revenues and 40% growth. Frog work with their portfolio companies using their ‘Scale-Up Methodology’ to help continue their growth. They provide support at the Scale-Up stage with a team of operational experts and entrepreneurs. Further information available at www.frogcapital.com
Source(s) : Sellics
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