Elevate Brands, which is focused on acquiring and operating Amazon third party businesses, has secured $55 million in funding. Soroban Capital led the round with participation from Upper90 and Oaktree Capital Management.
NEW YORK and AUSTIN, TX – November 8, 2021– Elevate Brands, a leader in acquiring and operating Amazon third party businesses, announced today that it has secured an additional $55M in equity funding led by Soroban Capital, with support from Upper90 and funds managed by Oaktree Capital Management, L.P. (“Oaktree”). This comes on the heels of their recent Series B $250 million debt and equity round in July 2021 led by Upper90.
Elevate plans to use this latest funding to accelerate its M&A strategy, expand its sales channels globally, and invest in its technology platform. The company currently boasts a robust portfolio of 30 Amazon Marketplace brands with a revenue run rate greater than $100M. Recent acquisitions include Will’s Wine, Essential Values and Active Chews, which are leaders in the Home & Kitchen or Pet Supply categories.
“We are operators first and foremost and will continue to build our global team of world class brand builders,” said Ryan Gnesin, CEO of Elevate Brands. “This latest round of funding confirms our investors’ confidence in our operating team, quality of existing brand portfolio, and deep pipeline of M&A targets.”
Elevate recently opened its second headquarters in Austin and has grown its global team of marketers and operators more than 600% since January 2021 and continues to expand.
About Elevate Brands:
Founded in 2016, Elevate Brands specializes in acquiring, launching and operating leading consumer brands in Amazon’s Third Party Seller Marketplace, a $300 billion entity that is expected to double in the next five years. A broad network of resources paired with a global team of industry leaders headquartered in NYC and Austin provides Elevate with the unique ability to scale brands quickly. The company structures its underwriting process to prioritize a seller’s needs and execute a trustworthy exit within 30 days.