Businesses can use many different software tools to manage their operations. For smaller businesses, that can be between eight and 15 custom software as a service (Saas) tools, which can cost anywhere from several thousand dollars to tens of thousands per year.
The co-founders of Carbon6 Technologies think all of them should live under the same roof.
Their Toronto-based company is in the business of acquiring those types of software for use by e-Commerce merchants selling on the Amazon marketplace, and just got a big boost from $66 million in Series A funding.
White Star Capital is the lead investor in the new investment. The company wouldn't give the breakdown of debt and equity. There are two other investors in the round.
Carbon6 has acquired many software companies. More than 50% of the customers of many of the tools are paying for our products according to the company. One of its recent acquisitions gave it a lot of free customers.
Carbon6 says that it is different from other all-in-one offerings because it is building a model to support larger and growing sellers.
The market is driven by 200,000 professional sellers. We were able to buy and build a series of tools to help them.
The company plans to open offices in Europe and Asia. Carbon6 will have over 20 products under it's umbrella by the first quarter of 2023, according to the company's founder.
The acquisition allows us to put experts around the table. We decided to encourage founders to stay with us when we looked at other businesses that were built through M&A. It gives us the best chance to create the innovation we need.
Surviving the SaaS tsunami: Optimize your tech stack to reduce risk and free up cash flow
All Rights Reserved © 2024
