Jungle Scout, an Austin, Texas-based provider of a platform for selling on Amazon, raised $110m in growth funding.
The round was led by Summit Partners and Jungle Scout Founder & CEO Greg Mercer.
The company intends to use the funds to expand its technology suite with the acquisition of Seattle-based Downstream Impact, an Amazon advertising tech company founded in 2017 by former Amazon employees Connor Folley (CEO) and Salim Hamed (CTO), extend its SaaS platform to support Walmart, and continue to scale its capabilities in advertising and full-scale ecommerce brand management.
Founded in 2015, Jungle Scout is a platform for selling on Amazon. The company currently features a full suite of business management solutions and market intelligence resources to allow entrepreneurs and brands to manage their ecommerce businesses.
Today, Jungle Scout supports more than $8 billion in Amazon revenue and serves over 500,000 brands and entrepreneurs who are working to build businesses on Amazon.
In June 2020, Jungle Scout introduced Cobalt, a market intelligence and product insights platform built to help enterprise brands win the Amazon channel. Cobalt processes more than 1 billion data points daily, and is designed to provide powerful intelligence, including extensive data on market share, segment and trend analysis, competitive insights, content optimization, and more.
Today, the company employs more than 200 team members across 16 countries and expects headcount to double in 2021.
Jungle Scout also opened its second and third offices in China, in Hangzhou and Qingdao, in addition to its office in Shenzhen.