Chord (formerly known as Arfa), a New York and Denver, CO-based commerce-as-a-service software company, raised $18M in Series A funding.
The round was led by Eclipse Ventures, which joined a roster of existing institutional investors including Foundation Capital, WhiteStar Capital, Forerunner Ventures, Index Ventures, and Thrive Capital, as well as angel investors from the commerce world, most notably Will Gaybrick of Stripe, and the founders of D2C brands such as Allbirds, Harry’s, and Warby Parker.
The company, which also acquired Yaguara, an innovative business intelligence platform, intends to use the funds to develop more technology and data products, as well as to continue to grow.
Led by co-founders CEO Bryan Mahoney and Chairman & COO Henry Davis, Chord offers technology and data products that give D2C companies, regardless of the size of their balance sheets, the ability to enhance their businesses by building on headless commerce technology and having access to meaningful first-party data.
The company also announced that Leslie Lorenz, Former Director of Data and Analytics at Lululemon, is joining the company as Vice President of Data.