SEATTLE--(BUSINESS WIRE)--Swiftly®, a provider of retail technology solutions that enable retailers to offer an enhanced customer experience, capture digital advertising dollars and build customer loyalty, today announced a $100 million Series B funding round led by Wormhole Capital. The round also includes investment from Liquid2 Ventures, Bramalea, Gaingels, Silicon Ventures, Proof VC, Western Technology Investment, Sand Hill Angels and The Martin Family. This latest round of funding brings the company's total investment to $120 million.
Today’s fundraising reflects the strength of Swiftly’s business and the incredible opportunity ahead. To remain relevant, retailers need to natively boost their digital presence while leaning into the one thing eCommerce players don’t have, the physical store, where more than 90% of purchases still occur. The Swiftly platform seamlessly connects retail customers through engaging and personalized digital shopping experiences to the brick-and-mortar store, while generating margin-rich retail media dollars. Retail customers gain greater product and pricing visibility in stores, exclusive personalized discounts and rewards to boost savings, and a seamless mobile checkout experience. Swiftly's flexible and powerful platform is trusted by retailers like Family Dollar and The Save Mart Companies and delivers a class-leading average of 49% higher transactions and 51% higher annual customer spend. In addition, 100+ of the top CPG brands advertise on their retail media platform.
“Retailers need to act now to connect the digital and in-store experience and capitalize on the $100B retail media opportunity,” said Henry Kim, co-founder and CEO of Swiftly. “Those that don’t connect the digital and in-store customer experience risk becoming obsolete and are handing over loyal customers and advertising revenue to the competition. Swiftly gives power back to retailers by providing a complete and flexible solution for in-app and in-store shopping enabling them to meet their customers where they’re shopping.”
“Swiftly is redefining and empowering brick-and-mortar retail with their transformative, technology that provides the tools to seamlessly mesh online and offline initiatives," said Vivek Garipalli of Wormhole Capital. “For the past two decades, most brick-and-mortar businesses have been hampered by legacy digital systems that no longer serve them. Add to that, the rise of retail giants who have taken market share category by category, and it becomes clear that it’s time to change. Retailers need a technology partner to help them thrive amidst evolving retail landscape and customer behavior. By partnering with Swiftly, retailers can leverage their physical locations, customer relationships and distribution networks to not just survive the shift in retail—but instead to leapfrog it."
With this new round of funding Swiftly will continue its rapid growth including, adding staff and resources across all company vertices, including engineering, sales, marketing, and customer onboarding. In addition, Swiftly will continue to make further investments to grow the product offering to serve more retailers, brands and their customers. By merging the physical and digital shopping experiences, Swiftly is the only platform offering an end-to-end omnichannel experience for retailers in the hyper competitive retail environment.
The suite of Swiftly® tools, platforms and retail media offerings empowers retailers to grow sales and build loyalty. Swiftly’s technology harnesses the power of AI to help retailers build strong digital relationships with customers and deliver amazing sales results. Swiftly powered Retail Media Networks enable leading brands to influence consumers across their shopping journey and provide the closed loop reporting that drives high-performing advertising campaigns. To learn more about Swiftly, our Retail and Brand solutions, and how we are redefining Retail Media, visit www.swiftly.com.
About Wormhole Capital
Wormhole Capital, the investment arm of Vivek Garipalli’s family office, backs deeply independent thinkers with audacious dreams and relentless determination. More specifically, Wormhole partners with special founders who have the rare ability to anticipate what will move society and culture forward and the aptitude to build a transformative, category-defining company, from the outset through to massive scale. While sector-agnostic, Wormhole focuses on a company’s lasting impact and invests at any stage from inception to growth rounds. For more information, visit: www.wormholecap.com.