SamCart, an Austin, TX and Fulton, MD-based provider of an eCommerce platform built for creators, raised $82M in Series B funding.
The round was led by Eldridge, with participation from TTV Capital, Fin VC, George Kaiser Foundation, and eGateway Capital.
The company intends to use the funds to expand both its team and platform features.
Led by CEO Brian Moran, SamCart provides a subscription-based centralized platform that offers specialized tools for digital creators. These include sales page design, revenue optimization, payments processing, and core commerce capabilities that allow customers to showcase their skills, convert visitors, increase the value of each purchase, and maximize the lifetime value of customer relationships. SamCart currently supports more than 30,000 businesses and has processed over $2.2 billion in sales to date. Creators including Big Little Feelings (2.3M Instagram followers) and Ali Abdaal (2.71M YouTube subscribers) have recently joined some of the top creators already on SamCart, including Amazing.com, Julie Solomon, Nicholas Kusmich, and Yoga with Adriene.
The announcement follows July 2021 launch of two new features, SamCart Courses™ and Auto-Enroll™ technology. SamCart Courses™ is designed to help brands launch online courses with minimal effort, combining a premium student experience with seamless integration into the brand’s eCommerce engine. Auto-Enroll™ technology has proven to increase student engagement by enabling “one-click course cross sells” that have shown to increase order revenue by 25%.
FinSMEs
07/04/2022