Shop Circle raises $60M to encircle e-commerce with an app suite

The boom in e-commerce post-pandemic meant shops moved online. However, some merchants ended up with dozens of separate app providers to accommodate everything from supply chains, to inventory, to marketing. The founders of Shop Circle realized this and either built or bought many such apps. The company has now raised $60 million in a Series B fundraise led by Nextalia Ventures in order to scale up this strategy. With this funding, Shop Circle has also completed the acquisition of Aiden, an AI-powered, “guided-selling” software used by such e-commerce giants as LG, Prenatal, and Intersport, among others. Shop Circle claims its year-on-year revenues have increased by 110%, which helped it raise funds, as did its focus on commerce-centric products powered by the increasing power of generative AI integration. It also has been profitable for two consecutive years. “Our main solutions range from AI-driven product discovery, primarily for commerce, up-selling, review management, inventory ... Read full article.