It is a huge day for the Marketplacer team, and we are delighted to share with you the news of our successful $20-million capital raise.
It has always been our vision to develop and build the most scalable online solutions to enable commerce in the world, and we welcome some of Australia’s most respected funds including Bombora Group, Acorn Capital, SG Hitchcock and Mirrabooka Investments, whose capital will now accelerate our journey. Findex Corporate Finance acted as advisor to the transaction.
Our CEO/Managing Director Jason Wyatt, who has a wealth of experience in the sector after co-founding BikeExchange and Tixstar, is excited by the scalability of the business.
“The addressable market for our product is large. Our key growth comes from retail brands, wholesalers and franchise groups that want to implement a dropship strategy or connect their network together in one online solution. There has also been a sizeable amount of demand from the professional services sector. Companies are not waking up wanting to be the next Amazon. What we find is that they value their customers’ needs and wants and are leveraging third party inventory or suppliers to scale their revenue growth”, he said.
We’ve also been thrilled by the impact of our consolidated industry data. This has provided incredible insights not only for our core customer but for their industry and partners as a whole, which of course is incredibly rewarding for us.
Where Marketplacer is today
From day one our people and product have been of the utmost importance to us.
Since launching in 2016 we have achieved over 100 percent annual growth driven through acquiring more than 60 customers. These include some of the most recognised brands in retail today, including Myer, Accent Group, Bob Jane T-Marts, Jayco and Petstock. Across the portfolio we have connected 11,000 businesses and have over 50-million annual users.
Part of our success lies in the flexibility and scalability of our product. Customers either implement a full-stack solution or simply plug the Marketplacer engine into their existing eCommerce platform. Making a complex product so simple for the end user takes an incredible wealth of technical expertise. Investing heavily in our development team was a very deliberate and strategic part of our business plan, and it has been crucial in shaping us as pioneers in our field.
Our executive team contains some of the brightest and most skilled individuals in their field. They include Co-founder and Director Sam Salter, who began the business journey with Jason over a decade ago, Chief Technology Officer Andy Kelk, Chief Revenue Officer Chris Skelton, who joined us from Adobe, our Chief People Officer Kellie Egan, formerly of Atlassian and Head of Corporate & Strategic Projects, Brooke Camov.
How this benefits our customers
We are on track to achieve our vision. However, this capital raise will now enable us to reach our goals faster and more broadly, so we’re at the start of an incredibly exciting new chapter. We will continue to focus on building a great culture, an innovative and scalable product and partnering with our customers to achieve shared success.
The use of funds will accelerate the company’s strategic direction. This includes:
- Continuing to develop product innovation that removes friction so as to better connect the world to enable commerce;
- Acquiring long-term strategic customers;
- Attracting further exceptional and experienced talent who can help the company scale not only locally, but internationally into the future.
We’d like to use this opportunity to thank everyone who has contributed to Marketplacer so that we can be here today and make this announcement. Our team, customers, investors, mentors and families have been fundamental to our success. We have achieved an incredible amount in a short time, but this is just the tip of the iceberg. We look forward to achieving even more for our current and future clients.