Handshake Raises $14M collection B round for E-Commerce Platform
In a collection B financing deal led by way of Sozo Ventures, new york-primarily based Handshake raised $ 14 million, the corporate introduced Thursday.
Handshake developed a cellular sales and business-to-industry e-commerce platform and works with distributors and producers of various consumer items. the company basically desires to supply for trade-to-trade what Shopify and sq. do for retailers who promote to customers. Prior buyers BOLDstart Ventures, Emergence Capital, MHS Capital, level nine, SoftTech VC, and primary undertaking companions participated in the latest round. Handshake has raised a complete of $ 23.5 million seeing that 2010, when it used to be founded.
Glen Coates, CEO of Handshake, says the new funding will go against further developing its mobile and web purposes right into a full platform. The funding may also assist grow the body of workers of 60 to about one hundred via 12 months’s finish. among different departments, the corporate plans new hires for its product and engineering crew to lend a hand develop gross sales automation and other e-commerce functions to fulfill the needs of larger businesses, he says. the corporate’s cell software has been seeing extra use among shops who want to refill merchandise on their shelves, Coates says.
The gross sales and advertising personnel may also expand with the brand new funding, he says, with a view to grow Handshake’s customer base. “We’re hiring for cellular, and the web, and the more or less platform that sits underneath it all,” Coates says.
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