Swiftline acquires Charm.io and is raising new VC funding
Swiftline, an e-commerce software provider, acquired Charm.io and is raising a Series B round, targeting about $24 million, its CEO and founder Ari Horowitz tells Axios.
- Charm.io indexes, profiles and ranks DTC brands by growth and currently tracks 5.9 million online retailers.
Flashback: The SaaS startup recently acquired Yardline, which provides growth capital to online stores on e-commerce platforms such as Amazon, from Thrasio.
Details: Swiftline recently raised a $12 million Series A round led by Raptor Group and Cloverhill Ventures in late December, according to an announcement.
- The idea is to part with roughly 20% equity in each round, while doubling the money raised in the previous round, Horowitz elaborated.
Context: Swiftline's aim is to provide an integrated suite of data-related tools that can, for example, tell a retailer how to better align pricing and advertising with available inventory.
- "We're trying to be your intelligence" for how to grow online, Horowitz said.
What's next: The company is on the hunt for more acquisitions similar to Yardline and Charm.io that provide tools, services or products that can be plugged into its existing platform, Horowitz said.