Minnesota e-commerce startup raises $ 4.4 million

Rebuy, Inc., a Minnesota-based e-commerce company that uses a data-driven approach to increase the average order value of Shopify users (AKA, it helps suppliers sell more products), raised 4.4 million dollars in growth capital from Peterson Ventures and Sidekick Partners. Before external financing, the company (founded in 2017) was self-financed.

“We are delighted to gain the support of Peterson Ventures and Sidekick Partners. Their support will help us continue to enable merchants of all sizes to accelerate their growth through on-premise personalization, ”said John Erck, Co-Founder and CEO of Rebuy, in a statement. “Our API-driven approach is a big differentiator for us. For example, our personalization engine works great with headless sites, a growing category in e-commerce. And many third-party applications have relied on our API. It means more features and growth for traders.

Once a Shopify user integrates Rebuy with its platform, the service uses AI to deliver product recommendations, post-purchase follow-ups and more to shoppers, according to the company.

MINNEAPOLIS, Dec. 15, 2021 / PRNewswire / – Rebuy, Inc., an omnichannel personalization platform, today announced that it has raised $ 4.4 million in growth capital from Peterson Ventures and Sidekick Partners. Founded in 2017, the company was self-financing before accepting external financing.

“Ecommerce brands are looking for the best tools to increase their revenue and automate their processes,” said Taylor Jones, principal at Peterson Ventures. “By providing merchants with the ability to easily deliver personalized shopping experiences and smart product recommendations, Rebuy has created a product that delights consumers and generates high value for online merchants. Once merchants integrate Rebuy, they will immediately see an impact on their average order value and overall revenue. Rebuy is quickly establishing itself as the leader in this new category of e-commerce activation.

Online sales have increased due to unprecedented demand since 2020. As consumers expect more from e-commerce stores, personalization has become a staple of the online shopping experience. To stay competitive, brands are looking to transform their default website into a smart online store that delivers personalized shopping experiences to every customer. Rebuy, available exclusively to merchants on Shopify and Shopify Plus, enables merchants to create personalized shopping experiences using AI-powered product recommendations, post-purchase follow-ups, and more.

Once onboarding, merchants typically see their Average Order Value (AOV) increase by 5% up to 20% and beyond. Some stores generate> 15% of their total income thanks to Rebuy.

“We are delighted to gain the support of Peterson Ventures and Sidekick Partners. Their support will help us continue to enable merchants of all sizes to accelerate their growth through on-premise personalization, ”said John Erck, Co-Founder and CEO of Rebuy. “Our API-driven approach is a big differentiator for us. For example, our personalization engine works great with headless sites, a growing category in e-commerce. And many third-party applications have relied on our API. It means more features and growth for traders.

Rebuy has expanded from its core offering as a repeat ordering app to include a full suite of onsite personalization solutions including marketing tools, personalized replenishment pages, a post-purchase offer engine and a personalized shopping cart. Today, the company offers on-premise personalization for more than 2,700 Shopify merchants. Rebuy powers many of the largest and fastest growing direct-to-consumer brands, such as Primal Kitchen, Fanjoy, Something Navy and Magic Spoon.

“Rebuy is an emerging leader in e-commerce activation due to the strength of the product and its deep integrations with industry stakeholders,” said Dylan Schuler, director at Sidekick Partners. “The results obtained by the clients speak for themselves and Rebuy has grown rapidly without external investment by sharing the success of their clients. With this new funding, the company will help even more merchants grow their e-commerce businesses. “

The funding follows 12 months of rapid growth during which Rebuy tripled its annual recurring revenue and more than doubled its customer base. The company has positive cash flow and processes over 2 billion inquiries per month and has analyzed over $ 6 billion in merchant transactions.

Rebuy plans to use the new capital to rapidly grow its engineering and sales teams and expand and accelerate its product roadmap. The company also aims to grow its partner network with top marketing agencies and e-commerce consultants through a new partner program launched earlier this year.

ABOUT REDEMPTION
Founded by two developer brothers in 2017, Rebuy empowers Shopify stores of all sizes to deliver personalized shopping experiences designed to increase conversions, increase Average Order Value (AOV), and retain more customers using up-sells. , cross-selling and data-driven publications. – monitoring of purchases. Trusted by thousands of leading retailers around the world, including Something Navy, Fanjoy and Primal Kitchen, Rebuy’s powerful technology is redefining data-driven shopping experiences. For more information, visit rebuyengine.com.

ABOUT PETERSON VENTURES
Peterson Ventures, located in Utah and the Bay Area, is a premier early-stage venture capital fund that invests in consumer and enterprise SaaS startups. Peterson Ventures’ portfolio consists of more than 95 companies and the company manages more than $ 200 million in assets. The consumer portfolio investments include brands that he says are reinventing the way consumers live and shop, such as Ethos and Allbirds. Investments in the corporate portfolio include SaaS platforms such as Lucid Software and Loop, leaders in the future of work and e-commerce activation. Peterson Ventures is the 10-year venture capital arm of the 20-plus-year-old Peterson Partners platform, an independent investment management firm with over $ 1 billion in assets under management and investments in a variety of alternative asset classes. Connect with Peterson Ventures through www.petersonventures.com.

ABOUT SIDEKICK PARTNERS
Sidekick Partners (www.sidekickpartners.com) is a US-based venture capital firm with extensive experience partnering with innovative and high-growth consumer and tech start-ups including FIGS, Ring, Everlywell, DailyPay, Halo Top, and others. . Sidekick Partners represents a group of highly strategic investors, including successful entrepreneurs, private investors and senior business executives. Sidekick Partners will use its extensive network in the consumer and tech sectors to help Rebuy grow in North America.


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