Carbon6 Technologies Raises $66 Million To Build More Ecommerce Tools And Help Online Sellers

Today’s online businesses use dozens of separate SaaS-based software tools to manage their day-to-day business operations. According to Carbon6 Technologies, a Toronto-based ecommerce software aggregator, a small online business will need between 8 and 15 SaaS-based software tools, which can cost anywhere from several thousand dollars to tens of thousands per year, just to complete day-to-day business operations.

Luckily, Carbon6, which claims to be “a leading software suite for the Amazon marketplace, is here to solve that problem and help those companies. Instead of buying those expansive SaaS-based tools separately, Carbon6 wants to offer those tools under one umbrella.

According to Carbon6 founders Justin Cobb and Saloojee, the e-commerce software ecosystem consists of lots of single-point solutions that don’t communicate with each other. “Your typical e-commerce seller has between eight and 15 different tabs open on their browser,” said Saloojee. “There is a simplification that’s needed that sellers desire.”

Carbon6 raises new funding to buy and build more tools for marketplace sellers
This week, Carbon6 announced that it has raised $66 million in a Series A funding round. White Star Capital, a global multi-stage technology venture capital firm that focuses on exceptional entrepreneurs building ambitious international businesses, led this new equity financing round, with participation from Kale Investment Fund, Benevolent Capital, and MidCap Financial, a middle-market focused, specialty finance firm that provides senior debt solutions to companies across all industries.

According to the company’s press release, this latest investment is a mix of equity, led by White Star Capital, and debt funding from MidCap Financial. Carbon6 declined to provide the breakdown of equity and debt financing.

Carbon6 intends to use the new funds to support its global expansion program by opening offices in Europe and Asia. The company wants to expand to the marketplace beyond Amazon and continue to grow its business through M&A and hiring additional talents.

CEO Cobb is expecting Carbon6 to get over 20 products under its corporate umbrella by 2023. The goal is to provide seamless omnichannel expansion opportunities to ecommerce businesses and online marketplace sellers.

In a released statement via the company’s press release, Justin Cobb, CEO of Carbon6, said in a statement, “Our vision is to become the ecosystem for marketplace entrepreneurs.”

CEO Justin Cobb also added, “The Carbon6 experience goes beyond software. We’re developing the connective tissue that millions of sellers need to automate and accelerate their businesses, with the support of a broader network of entrepreneurs. We are thrilled to announce this investment and look forward to expanding our platform to serve the Amazon community.”

Carbon6 Co-Founder Naseem Saloojee, said in a released statement via the company’s press release, “It’s no secret that it’s getting harder and harder to sell online with constant supply chain challenges and marketplace platform changes.”

Saloojee also added that “Sellers need access to timely and accurate data, and connected software that translates insights into actionable results. Developed by the brightest Amazon experts, our innovative tools and education programs enable sellers to succeed at every stage in the entrepreneurial journey.”

Founded in April 2021 by Justin Cobb, Kazi Ahmed, and Naseem Saloojee, Carbon6 is building a comprehensive and integrated set of tools that streamline ecommerce business management. In short words, the company wants to simplify the online selling process for ecommerce merchants.

Since its founding, at the height of the COVID-19 pandemic-driven e-commerce boom, Carbon6 has made significant headway in the ecommerce space, acquiring 16 companies in the past 16 months. These include ad revenue management tool PPC Entourage, and SoStocked, an inventory management, and forecasting software firm.

Now, armed with fresh capital it has raised from a new investment round, the startup plans to grow its business, and buy even more e-commerce software companies, including larger, more established companies.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s