On April 13th, 2022, the startup Moot, which helps businesses and brands sell over all of those channels in a single approach, announced a US $18 million round headed by Espresso Capital to develop its business organically and through M&A.
On the first point, Moot intends to invest more in technology, notably improved AI capabilities, to automate and analyse more of its clients’ actions. Moot stated that it is currently working on two deals on the second point.
The company, which is situated in Staffordshire in the Midlands of England, has been on a growth tear as e-commerce has exploded in recent years. After rising 300 percent year over year in 2021, it’s on target to achieve EUR 100 million (US $130 million) in ARR by the end of this year, with customers including Timberland and Asos, media companies like House Beautiful, and hundreds more.
What the founder has to say:
Nick Moutter, the founder and CEO:
“We recognized there was a significant need in industry,” Moutter said, referring to organizations in “the second stage of growth, where they’ve hit the ceiling of Shopify and are searching for more advanced solutions to scale.
Today, the company allows brands to create and sell through various channels, including their websites and apps and third-party marketplaces, wholesalers, and other options.
The platform has a single database that can be updated to reflect activity across all channels, which is a crucial aspect of the service.”
What the investors have to say:
Will Hutchins, MD of Espresso Capital, in a statement:
“Moot is a market leader in the rapidly expanding EaaS industry. Tier-1 global clients are flocking to its unique platform, which combines operational skills, excellent user experience, and customer acquisition technologies, Moot has the proper team and technology platform to become a global EaaS leader, helping its clients offer highly distinctive e-commerce experiences and we believe the firm has the right team and technology platform to do so. We’re thrilled to be working with them on this next step of their development.”
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