Home Business NewsBusiness Top retail platform raises $30m series C funding round

Top retail platform raises $30m series C funding round

by LLB Reporter
29th Aug 18 7:23 am

Narvar, the premium post-purchase customer engagement platform, today announced a $30 million Series C financing round led by Accel, who also led Narvar’s Series A round.

Existing investors including Battery Ventures participated in the round, as well as new investors Salesforce Ventures and Scale Venture Partners. Inconjunction with the financing, Ryan Sweeney, partner at Accel, will join Narvar’s board. Since its founding in 2012, Narvar has raised $64 million in total funding.

“Accel has proudly been a Narvar partner from the start, and has watched the company’s customer adoption, product innovation, employee culture and global market traction continue to flourish,” said Sweeney. “Over the last few years, Narvar has redefined e-commerce service standards by changing the way brands interact with their customers throughout the entire online purchase lifecycle. We’re confident the company will continue to play a key role in shaping the future of online retail experiences and we’re looking forward to continuing to support Amit and the rest of the team on this mission.”

Experts predict that by 2020, customer experience will overtake price and product as the key brand differentiator. Traditionally, retailers have been obsessed with acquisition and conversion, often neglecting the post-purchase phase of the journey. Narvar helps brands to engage customers at a time of high anticipation and build long-term loyalty with their customers.

By working with more than 500 of the world’s most admired retailers, including Patagonia, Gap, Levi’s, TUMI and Sephora, Narvar has created the industry standard for addressing the post-purchase opportunity. Narvar’s robust, intelligent and customised SaaS platform provides powerful delivery tracking analytics, delivery notifications, returns management, seamless feedback collection and timely customer communications. The company has served nearly 5 billion customer interactions across 38 countries and 50 languages.

“When we started Narvar just a few years ago, we set out to simplify the everyday lives of customers,” said Amit Sharma, founder and CEO, Narvar. “We recognised a huge opportunity for brands to deliver exceptional post-purchase customer engagement, and have helped retailers realise this vision for more than 300 million people. At the same time, e-commerce adoption has skyrocketed — in fact, more than 70 percent of adults online have interacted with Narvar through the retailers we support, and we anticipate this will continue trending up. We’ll use this new investment to continue developing leading products for our customers while investing heavily in international growth to support global brands.”

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