Suma Brands, a Minneapolis-based platform for acquiring and scaling Amazon FBA businesses, closed a $150m Series A funding.
The round was led by Pace Capital and Material alongside a credit facility led by i80 Group. These financings bring the total amount raised by the company, which launched last year and has been operating in stealth mode, to over $150M.
The company intends to use the funds to continue accelerating their pace of acquisitions of Amazon FBA businesses and expand their diverse portfolio of e-commerce brands, and hiring e-commerce, Brand Management, and Supply Chain talent to expand its operating platform.
Co-founded by Matt Salzberg, Founder and former CEO of Blue Apron, Andy Salamon, co-founding investor in Hims and Hers, Danielle David Parks, and Jon Dussel, former CFO of Dolls Kill) and led by Co-founder and CEO Andrew Savage, Suma Brands is an commerce platform focused on acquiring and developing marketplace brands by applying enterprise-level operating resources to scale them.
Headquartered in Minneapolis, the company is building a national presence with remote work optionality and planned offices in New York City and Los Angeles.