Having a strong multichannel strategy is consistently becoming a big issue for retailers and wholesalers.
Today’s customer doesn’t just shop in one place, nor in just one fashion. Retailers need to reach their customers across many channels — in the store, through the mail and online in order to thrive.
Investors are also beginning to see the potential with multichannel and they want a piece of the pie.
Stitch Labs, an inventory and multichannel selling platform for retailers and wholesalers, announced today a $3.5 million round of funding from existing investors True Ventures and Costanoa Ventures.
Brandon Levey, CEO and founder of Stitch Labs said the company’s orders managed through the Stitch platform have increased by “more than 700 percent” over the past year alone.
“Stitch is growing at a rapid pace,” he said. “This capital gives us additional resources to innovate and continue delivering on our vision of simplifying and unifying commerce for multichannel retailers on a larger scale.”
Image and video credits: Stitch Labs
Stitch Labs’ cloud-based inventory management platform helps businesses bring together all their sales channels, gather data to hopefully allow companies to fulfill orders faster.
With more than $100 million passing through the platform each month, according to company executives, the company is able to aggregate retail data to help customers make more informed decisions about shipping, merchandising, inventory, ordering and warehousing.
Stitch will use the funds to expand its marketing and engineering teams, who will focus on driving customer acquisition and enhancing the platform and partnerships.
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