Stitch Labs, a start-up that helps small businesses manage inventory, orders, and shipping, has secured $1 million in seed funding from True Ventures, according to VentureBeat. Co-founder and chief executive Brandon Levey began working on Stitch Labs in 2011 when he was running his own design and manufacturing company. He was frustrated with the lack of software available to small businesses to manage inventory and sales, writes VentureBeat.
Reuters – Stitch Labs, a startup that helps small businesses manage inventory, orders, and shipping, announced today it has raised $1 million in seed funding from True Ventures.
Co-founder Jake Gasaway told VentureBeat in an interview that Stitch Labs really took off after it integrated with Etsy and Shopify. Many of the millions of Etsy users began making their way over to Stitch Labs and became paying customers, which helped the company gain attention from venture capital firms. Stitch Labs attributes its seed funding to showing VCs that they could build a business that generates revenue and could convert people into paying customers.
“Something that was pretty much consistent with our users, is that they loved our product. Once we integrated with Etsy and Shopify, we gained new customers — not just sign ups, but paying customers,” said Gasaway, “We spent time last summer talking to people, networking with small businesses to pave our way.”
Stitch Labs manages contacts, inventory, sales, invoicing, and shipping for online businesses. It displays all relevant information in a dashboard, so business owners can manage orders, payment, and many other aspects of their operations. The company also integrates with the shopping cart platforms from Etsy and Shopify and can manage data from several different business, both online and off, in one dashboard. Pricing starts at $12 per month for single-person businesses, up to a monthly fee of $80 for larger companies.
Co-founder and chief executive Brandon Levey began working on Stitch Labs in 2011 when he was running his own design and manufacturing company. He was frustrated with the lack of software available to small businesses to manage inventory and sales.
“We see a lot of changes going on the e-commerce world, we want to make it easier for them to succeed,” Levey told VentureBeat. ”We take a more holistic approach to all the ways businesses sell their products, offline and off.”
Stitch Labs will use the funding for product development and customer growth. The company is also hiring new employees.
Stitch was founded in 2011 and is based in San Francisco, California. This is the first round of funding the company has received.