Pattern has received $225 million as a minority investment from Knox Lane. The ecommerce marketplace accelerator, founded in 2013, has more than 900 employees and clients including Panasonic, Pandora, Black Diamond, Skullcandy, KONG and Sorel. Pattern has helped brands accelerate growth in more than 100 countries across hundreds of global marketplaces, including major players such as Amazon, Tmall, Walmart.com, eBay and Mercado Libre.
“We’re thrilled that Knox Lane has joined our mission to help brands maximize their share of the $6 trillion global ecommerce market,” said Melanie Alder, Co-founder and Chief Investment Officer of Pattern in a statement. “Their partnership and investment will allow us to further accelerate the technology and intelligence services that power our platform, while expanding our global offering.”
The investment brings Pattern’s valuation to $2 billion, according to the company, making it Utah’s first female co-founded tech “unicorn.” Pattern manages brands’ ecommerce offerings across marketplaces, direct-to-consumer sites and other channels by buying the brand’s inventory, plugging its offering into Pattern’s acceleration platform and managing global logistics and fulfillment.
“As ecommerce and digital marketplaces continue to rapidly evolve, we believe Pattern’s offerings will become increasingly attractive to prospective brand partners as they navigate the dynamic digital commerce landscape,” said John Bailey, Managing Partner at Knox Lane in a statement. “We have strong conviction in Pattern’s comprehensive platform and global capabilities.”
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