Australia-based tech platform Marketplacer, which helps brands, retailers and other businesses create their own online marketplaces, has received $38 million in fresh funding to build out its product suite, grow its partner program and continue its expansion in the U.S.
With this new funding, Marketplacer has raised more than $85 million to date and now has more than 100 marketplaces on its platform globally, including major Australian supermarket chain Woolworths, lifestyle brand SurfStitch and fishing enthusiast app Fishbrain.
Marketplacer launched in the U.S. earlier in 2021 and faces stiff competition from established U.S. marketplace SaaS platform Mirakl, which recently raised $555 million in Series E funding in September. But by all accounts the overall marketplace opportunity is only expanding, with companies increasingly turning to third-party marketplaces as a way to broaden their ecommerce offering. In fact, 47% of all ecommerce sales worldwide in 2020 were made on marketplaces, according to WebRetailer, and Alvarez & Marsal predicts that marketplace sales worldwide will account for $5 trillion by 2025.
“A marketplace strategy, underpinned by a trusted and proven platform, is the next big growth lever in commerce, and Marketplacer is at the forefront of enabling all retailers to add these capabilities to their offering,” said Jason Wyatt, Founder of Marketplacer in a statement. “[This new round of funding] will enable us to amplify our sales and marketing efforts and accelerate our product development, taking our offering to enterprise customers in the United States, Asia Pacific and beyond.”
Investors in Marketplacer’s latest funding round including Acorn Capital, Ellerston Capital, Endeavor Asset Management, Lennox Capital Partners, Mirrabooka, OC Funds, Salesforce Ventures and SG Hiscock, as well as new investors Fifth Estate, Washington H Soul Patterson and Wunala Capital.