Home Breaking News Austin based start-up Jungle Scout raises USD 110 Million funds

Austin based start-up Jungle Scout raises USD 110 Million funds

Texas based start-up Jungle Scout has secured USD 110 million funds on 4th of march, 2021 in a private equity round led by Summit Partners.

Investors: The acquisition of USD 110 million funds took place in the private equity funding round led by Summit Partners.

What the funding is for: The fresh funding would be utilized to support third parties to sell on marketplaces like Amazon.

Founded Year: February 2015

Founders: Greg Mercer

About the company: Jungle Scout is a privately held organization which functions under the internet industry. Its headquarters is established in Austin, Texas and has a work strength of 51-200 employees. They also deal with various specialties like product research, enterprise development and Amazon Sellers.

What the CEO has to say: “We are starting with Walmart.com which will be live in near future. We’re bullish on the future of Amazon but if we think about that besides those platforms where people primarily to purchase things there are places where consumers spend their time such as Google or social channels like Instagram that could be other areas where we could provide tools to sell through.” — Greg Mercer, Co-founder of Jungle Scout.

“Jungle Scout was one of the first companies to identify the opportunity to provide SaaS based tools to help businesses and brands to expand their ecommerce footprints on Amazon and beyond and the company has built their leadership position over the last few years. It is a strong vote of confidence when you consider that Roseman himself is also an ex-Amazonian having been its VP of technology working on marketplace technology, among other things.” — Greg Mercer, Co-founder of Jungle Scout.

What the investors have to say: “We believe Jungle Scout’s technology is robust and highly scalable and designed to help a company grow as the Amazon third party selling ecosystem has expanded. We believe the addition of downstream impact will add to this product and engineering strength and we are thrilled to be a part of the company’s growth journey.” — General manager at Summit Partners.

“The opportunity for building out more tools to address the Amazon economy is a massive one. As we have pointed out before it is estimated that the number of third-party sellers on Amazon currently stands around 5 million a number that appears to be growing exponentially at the moment. With more than 1 million sellers joining the platform last year. That includes not just the small retainers who are looking to extend their consumer touch points but also increasingly a number of big brands that are now looking at how they can leverage Amazon better to sell directly to consumers on the platform, rather than via third party merchants.” — CEO at Summit Partners.

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