NEW YORK--(BUSINESS WIRE)--Elevate Brands, a leader in acquiring and operating Amazon third-party businesses, today announced it raised over $55 million in committed funds from a global group of leading fintech and e-commerce business leaders that includes FJ Labs, Novel TMT, Acceleprise.VC, Mons Investments, Pandu Sjahrir from Indies Capital, Adam Jacobs from the Iconic and Rob Tarkoff, EVP of Oracle.
As an Amazon operator since 2016, Elevate Brands acquires, launches and operates leading consumer Amazon brands and “elevates” them to their full potential. The company is expanding rapidly through a targeted acquisition and post-acquisition brand growth strategy. Since acquiring its first Amazon business more than 12 months ago, Elevate Brands reported more than 100% average post-acquisition growth across its portfolio and is expected to hit $150 million in revenue by the end of 2021. The company is poised to be one of the leading platforms in the marketplace.
“The commitment from our leading group of e-commerce and fintech investors further validates our strategy and is a testament to our operational strengths that have led to rapid sales growth for our portfolio of brands,” said Ryan Gnesin, CEO of Elevate Brands. “We started this journey four years ago as sellers ourselves, and this deep operational experience on Amazon allows us to truly relate to other business owners in the ecosystem. Sellers seeking a successful exit are coming to us because they know we will be good stewards of the brand they’ve worked so hard to build.”
“It was great to work with the friendly folks at Elevate Brands because they are true professionals and I would highly recommend them to anyone that is considering selling their Amazon business,” said Andy Slamans, Amazon FBA (fulfilled by Amazon) Seller. “I was nervous about selling my business because of my bookkeeping, but they did all the heavy lifting to build out my P&L. They executed the purchase of my brand flawlessly, and I’m amazed at the growth they have been able to achieve in such a short time.”
The Amazon Third Party Seller Marketplace generated $300 billion in annual sales in 2020, a significant increase from $200 billion in 2019. Elevate Brands uses a data-driven approach to acquiring businesses, finalizes its underwriting process within 30 days, and deploys its operational strengths immediately upon acquisition to grow its portfolio both locally and globally.
While Elevate Brands is optimizing brands to scale on Amazon today, they are also building a marketplace-agnostic strategy to support each brand’s long-term growth. Elevate Brands plans to build legacy identities that will touch consumer lives for years to come by prioritizing its marketing & creative services department.
“The Elevate Brands team are best-in-class operators first and foremost -- that’s why we’re backing them,” said Hersch Klaff. “Their leadership team’s unique background of M&A, e-commerce marketing, and operations, combined with a proven track record both on and off Amazon, gives us a high level of confidence in the team’s ability to build a successful business in what is now one of the fastest-growing sectors of the economy.”
The company offers Amazon Third Party sellers clear and compelling exit opportunities with fair, transparent valuations. Its global network provides new brands with a unique ability to scale quickly and achieve sustainable long-term growth.
About Elevate Brands
Founded in Q4 2016, Elevate Brands taps into the high-growth Amazon Third Party Seller Marketplace, a $300 billion marketplace that is expected to double in the next five years. Elevate Brands specializes in acquiring, launching and operating leading consumer Amazon brands. Elevate Brands has a global team of industry leaders with headquarters in New York and Austin, TX. Its broad network of resources provides a unique ability for brands to scale quickly. The company structures its underwriting process to execute quickly, closing the deal within a matter of weeks, not months. The company founders previously built their own brands on Amazon, bringing valuable insight to the challenges that sellers face.
