Exit kings return with an 18-month-old ecommerce startup that simply banked $28.5 million Collection A

The founders of TradeGecko and Advocately, Cameron Priest and Patrick Barnes, are again with a bang due to their new e-commerce startup, Amp, which has secured US$18.5 million (A$28.5m) in a collection A, having solely launched final 12 months. 

AMP is their resolution for the problem retailers face in utilizing dozens of various apps to run an ecommerce retailer, tackling gross sales, delivery and analytics.

The spherical was led by Singapore VCs Jungle Ventures and Open Area Ventures.  

They’ve arrange store in Singapore, the place New Zealander Priest had earlier success, with Amp boots additionally on the bottom in Australia and the US.

The duo wasted no time since Barnes offered his buyer evaluation administration platform Advocately to US rival G2 in March 2019, adopted by Priest exiting his SME stock and order administration platform, TradeGecko, in September 2020 in a $150 million acquisition by Intuit. Barnes had labored for his Kiwi cofounder within the early days of TradeGecko earlier than going off to launch Advocately in 2016 with assist from Priest. Now they’re hoping lightning strikes thrice. 

Amp has already been on the merger path with three acquisitions to construct out its performance: checkout and conversion startup AppHQ, delivery platform Addition, and analytics device Lifetimely. Alongside the way in which they’ve additionally acquired 20,000 clients since launching 18 months in the past.

Priest mentioned they’d seen lots of of principally small enterprise retailers fighting utilizing as much as 25 totally different apps day by day, and rising, to run their ecommerce shops, and coping with the frustrations of them hardly ever working collectively.

“Amp was born from the will to maintain issues easy. We’ve created a platform of interconnected, high-performance options, constructed to energy and scale eCommerce companies whereas fixing a number of issues from optimising gross sales, managing delivery and monitoring analytics,” he mentioned.

“Over the following 12 months, the Amp platform will see important additions to its suite of options, together with enhancements to present options, extra integrations and thrilling partnerships. “ 

Barnes, AMP’s CEO, added: “This funding will allow us to increase our workforce and speed up our product growth via a mixture of constructing and shopping for best-in-class software program to empower eCommerce entrepreneurs to begin, develop and scale their enterprise.” 

One completely satisfied buyer buyer is Garth Stivey, founding father of sports activities gear firm GND.

“Earlier than we deployed Amp throughout GND Health, our greatest ache level was that we had been utilizing a heap of various apps to run upsells, fulfilment, delivery and analytics,” he mentioned.

“None of them labored collectively, and it was a headache. Transferring to the AMP suite of apps has meant all of the apps work collectively, the info flows out and in of every app seamlessly, customer support is constant, and we truly know what’s happening in our enterprise.” 

Jungle Ventures managing associate David Gowdey mentioned ecommerce will proceed to progress in quantity and income for small companies that must be extra environment friendly. 

“These retailers want options which work seamlessly collectively, in order that they will improve effectivity and maximise gross sales,” he mentioned.

“AMP is each constructing and buying apps to create a compelling suite of companies that assist energy these retailers’ shops in Australia, the US and across the globe.”