Assiduus Global raises $15M in Series A funding round
Delaware, US-headquartered cross-border ecommerce management services providerhas announced raising $15 million in a Series A round of funding led by mid-market investment fund, Pulsar Capital. The round also saw participation from 9Unicorn, Venture Catalyst, StrongHer VC, and HNIs like Co-founder of Thrasio, Carlos Cashman; and Rajan Navani of JetLine Group.
The company will utilise the funds to enhance technological architecture and expanding its business across international markets such as Europe and Southeast Asia.
The company had last raised $1 million in September, 2020, from venture capital firm, Company K Partners and other HNIs.
Founded in 2018 by Dr Somdutta Singh, Assiduus offers online brands with intelligence, analytics, and data with actionable insights. Its services include account management, product listing and optimisation, brand registry, distribution and inventory management, and auto campaigns, among others.
“We are pleased to have received such a significant backing from such eminent funds, especially when Assiduus is driving the next frontier of digital commerce solutions. As a global ecommerce accelerator, we have cemented an enduring presence in the industry by empowering countless brands to scale their operations across the fast-evolving e-commerce multiverse,” said Dr Somdutta SIngh, Founder and CEO of Assiduus in a statement issued by the company.
Assiduus works with hundreds of brands to scale its presence across over 12 global marketplaces, including, , , , , , , and others.
“Assiduus has the opportunity of being a global leader in the cross-border ecommerce accelerator space. In the next few years, the traditional brick-and-mortar sales and distribution model will undergo a transformation and Assiduus is helping brands drive that disruption,” said Vish Narain, Managing Partner at Pulsar Capital in the statement.
Globally, Assiduus competes with the likes of US-based Pattern and Nasdaq-listed Global-e. Companies operating in a similar space include Borderfree and SoftBank-backed Chinese ecommerce SaaS platform, Dianxiaomi.
The article was updated for list of competitors of Assiduus Global and to correct the state in which it is headquartered.
Edited by Megha Reddy