Elevate Brands, a New York and Austin, TX-based leader in acquiring and operating Amazon third-party businesses, raised an additional $12.5m in funding.
The backers were not disclosed. The additional investment brings the company’s funding total to over $67.5m in 2021.
Led by Ryan Gnesin, CEO, Elevate Brands specializes in acquiring, launching and operating consumer Amazon brands. The company offers Amazon Third Party sellers clear and compelling exit opportunities with fair, transparent valuations. Elevate Brands uses a data-driven approach to acquiring businesses, finalizes its underwriting process within 30 days and utilizes its global network to provide new brands with the ability to scale quickly and achieve sustainable long-term growth.
The company, which is on track to hit over $150 million in revenue by the end of 2021, is acquiring sellers at a pace of 3-4 new brands per month and on pace to acquire 100 brands by the end of 2022.