AUSTIN, Texas--(BUSINESS WIRE)--Elevate Brands, a leader in acquiring and operating Amazon third-party businesses, today announced it raised an additional $12.5 million in committed funds from its existing global group of leading fintech and e-commerce business investors. The additional investment brings the company’s funding total to over $67.5 million in 2021. The funding is fueling the company’s acquisition plan, enabling it to acquire its 20th Amazon Marketplace brand in April.
“There have been a plethora of Amazon Marketplace sellers looking to exit in the last three months, a significant step up from last year,” said Ryan Gnesin, CEO of Elevate Brands. “As Amazon FBA sellers ourselves, we can truly relate with these business owners and ensure an efficient and pleasant acquisition process. We have a strong playbook for growing these brands post-acquisition, and this bridge funding will enable us to maintain our momentum.”
Elevate Brands has quickly gained traction in the fast-growing Amazon Marketplace and has reported nearly 100% average post-acquisition growth across its portfolio. The company is acquiring sellers at a pace of 3-4 new brands per month and is on pace to acquire 100 category-leading brands by the end of 2022.
The company offers Amazon Third Party sellers clear and compelling exit opportunities with fair, transparent valuations. Elevate Brands uses a data-driven approach to acquiring businesses, finalizes its underwriting process within 30 days and utilizes its global network to provide new brands with a unique ability to scale quickly and achieve sustainable long-term growth.
The company recently opened its second headquarters in the growing tech hub of Austin, Texas, and has grown its global team of marketers and operators by more than 200% since January 2021. The company is positioned to be one of the leading platforms in the marketplace and is on track to hit over $150 million in revenue by the end of 2021.
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.