Tictail said Tuesday that it has raised $8 million in Series A funding. Thrive Capital was the lead investor. Other backers include Balderton Capital, Project A Ventures and Creandum. Based in Sweden and New York City, Tictail is an e-commerce platform.
NEW YORK — February 18, 2014 — Tictail (www.tictail.com), the free-to-use DIY e-commerce platform based in Stockholm, today announces an $8 million Series A funding round lead by Thrive Capital, New York; and followed by Balderton Capital, London; Project A Ventures, Berlin, Creandum, Stockholm. Other strategic investors include Scott Belsky, founder and CEO of Behance; Andy Dunn founder of Red Swan Ventures, and founder and CEO of Bonobos; Nick D’Aloisio, founder of Summly; and Jesse Derris, founder and CEO of Derris & Company.
Founded in May 2011, Tictail allows an individual or retailer to set up a virtual store in minutes. Dubbed ‘the Tumblr of e-commerce’ by Wired Magazine in 2012, Tictail focuses on strong community integration, simplicity of use, and attractive, customisable design. In less than two years, Tictail has grown to over 35,000 stores in 110 countries. In 2014, Tictail will increase its focus on the consumer by creating new ways for consumers to shop and discover stores and nurturing a unique community of buyers and sellers. In addition to continuing to build the product team, this latest funding will be used to open a New York office focused on growth in North America.
Carl Waldekranz, CEO and co-founder of Tictail, comments: ”The team at Thrive shares our vision for Tictail and has a strong product focus, which is key for us as we improve the consumer experience by providing merchants with the tools necessary to connect with consumers in a way that wasn’t possible before. This year will be a game changer. I feel strongly that our internal motto, “We’re just getting started,” is more true now than ever before.”
Will Gaybrick, Partner at Thrive Capital, a private equity and venture capital firm that focuses on technology investments says, “Tictail has a beautiful product that merchants love, and a vibrant community that is growing faster by the day.. We’re excited to see this talented team apply its strengths in design and engineering to develop consumer products that facilitate social commerce and merchant discovery.”
Founded in May 2011 by Swedish entrepreneur Carl Waldekranz and co-founders Kaj Drobin, Birk Nilson, and Siavash Ghorbani, Tictail launched its free-to-use DIY e-commerce platform in May 2012. The Tictail platform allows an individual or retailer to set up a virtual store in minutes. The company is based in Sweden and New York City. Tictail currently hosts more than 35,000 online stores created in 110 countries.