E-commerce tech business Volo Commerce raises £6.2m
Helping brands "maximise the opportunity of multi-channel commerce", Volo will use this latest injection of cash to drive North American expansion
Volo Commerce, a provider of multichannel e-commerce technology, has raised £6.2m in its latest funding round.
The round was led by NVM Private Equity with participation from funds managed by Downing LLP.
Helping brands and retailers to “maximise the opportunity of multi-channel commerce.”, users can scale their own e-commerce business by gaining access to leading marketplaces such as Amazon, eBay and Walmart – with Volo automating all aspects of the selling process.
In addition, the solution incorporates multi-channel best practices and know-how, whilst giving customers valuable analytics to improve profitability and drive growth.
Headquartered in the UK with an office in New York, Volo was founded in 2009 and its co-founder Ben White currently serves as chairman.
A serial tech entrepreneur, White previously co-founded three businesses (RBR Networks, Star and MessageLabs) all with revenues in excess of $100m – and a combined value creation of nearly $1bn.
MessageLabs, the “first company in the world to deliver anti-virus and anti-spam in the cloud”, was sold to Symantec for $700m in 2008.
Volo will use this latest injection of cash to drive North American expansion, as it looks to grow its international audience.
Paul Watson, CEO of Volo Commerce, said:
“Our mission continues to be ‘to make selling online as easy as buying online.’
“Through simplifying the selling process and adding valuable analytics our customers continuously outperform the market and typically grow their business by 100% or more by their third year with Volo.
“This investment will enable us to help more businesses grow and accelerate our international expansion whilst continuing to innovate across the platform.”
Charlie Winward, NVM private equity investment director, said:
“The growth in multichannel e-commerce continues to accelerate and is a huge opportunity but also a complex challenge for most businesses. Volo has built a platform that removes much of this complexity with a revenue model that aligns with its customers to drive growth.
“We look forward to partnering with Volo as Paul and the team bring their solution and expertise to new customers.”
James Lewis, investment director at Downing LLP, said:
“We are delighted to be investing in Volo, backing a talented team in expanding their business. All areas of retail continue to face pressure and Volo is able to open up new growth channels and geographies for them.”