Threecolts, a London-based startup started by an ex-Amazon executive that creates software for brands and retailers to manage their Amazon sales channel has 22,000 customers since its inception in 2021.
Now the company announced that it has secured $90M in funding led by Crossbeam Venture Partners and General Global Capital along with participation from Stratos and CoVenture.
Threecolts claims to be profitable and revealed that revenues have grown 6 times year-over-year. It has completed 14 acquisitions since its inception.
The Threecolts platform assists vendors in competing on the sales platforms of Amazon, Walmart, and eBay. The Threecolts platform creates a level playing field for brands and small companies because the sales tools on these platforms fundamentally favour their own sales.
Being a former Amazon API partner lead for EMEA, the platform’s founder Yoda Yee, has an inside track on Amazon.
Sakib Jamal, Senior Investment Associate at Crossbeam shared: “Threecolts’ impressive execution over the past year means that sellers can now access a one-stop shop solution for an increasing number of pain points, easing vendor fatigue and administrative loads. Yoda and team have provided returns that are realized in quick feedback loops for customers of all shapes and sizes, from large enterprises to up-and-coming businesses.”
The fundamental idea has led Threecolts to create (and acquire) a suite of tools that go beyond tools for monitoring and adjusting pricing and also include real-time listing and inventory alerts, customer service integrations across channels, API dashboards, monitoring of third-party data sources, automation for monitoring feedback and product reviews, analytics around profit and sales, and more.
According to Threecolts, its 22,000 customers jointly produce more than $30B in total merchandise sales, have increased earnings by $200M, and have seen a 200% increase in detail page conversions.
Threecolts’ client lists include leading consumer brands and Fortune 500 companies such as Samsung, Panasonic, and L’Oréal. The company has increased their staff to 150 employees in 31 countries during the last year.
