NewStore Secures $50M In Funding To Expand Mobile Offering
NewStore, Inc. has secured an additional $50 million in Series B funding, bringing its total raised to-date to $90 million. The company, founded by Stephan Schambach, operates a customizable Mobile Retail Platform designed to be an end-to-end solution that integrates with all existing e-Commerce platforms.
“Nearly every industry in the world has been disrupted by mobile, and one of the most affected is retail,” said Steve Sarracino, Partner, Activant Capital, and newest member of the Board of Directors at NewStore. “Consumers demand seamless experiences across channels, and brands are ill equipped to deliver... We see mobile capturing an ever-growing portion of the $24 trillion worldwide retail market.”
Activant Capital led this round of funding, joining returning investors General Catalyst and Schambach. Previously, Schambach founded Demandware (now Salesforce Commerce Cloud) and recently has authored the book, Makeover: How Mobile Flipped the Shopping Cart.
