SEATTLE – November 19, 2020 – Stackline, a leading provider of enterprise tools to help retailers and brands manage their e-commerce business, announced it has closed a $50 million Series A investment from Goldman Sachs Growth Equity. Proceeds from the investment will be used to accelerate the company’s rapid pace of product innovation, as well as to expand its network of brand and retail partners around the globe.
Stackline was founded in 2014 by Michael Lagoni (CEO), Mitch Keidan (Director of Product), and Raj Ramasamy (CTO) with the vision to dramatically simplify how brands manage their various online channels and drive profitable e-commerce growth. By combining retail market intelligence, advertising automation, workflow management and operational analytics all into a single platform, Stackline is able to deliver a mission-critical operating system for e-commerce teams.
Today, Stackline works with over 2,000 consumer brands, such as Sony, Levi’s, General Mills, and Starbucks, helping them generate over $30 billion in e-commerce sales across 18 countries this year.
"We count on Stackline software to provide definitive insight into e-commerce performance across our portfolio of brands. Their capabilities unlock intelligence we haven't seen from anyone else, giving us more tools and insight to accelerate our growth," said Joy Simonsen of Mondelez International.
The investment by Goldman Sachs represents the first round of capital ever raised by the company.
“We’re excited to partner with Goldman Sachs as our business continues to scale. This investment will help accelerate the important role Stackline plays in allowing our customers to gain a competitive advantage and drive transformational change in how they grow online sales,” said Michael Lagoni. “I’m incredibly proud of our team’s work to build industry-defining technology and very excited about the new innovations we’ll bring to market in the coming years.”
Stackline has significantly expanded its coverage for its flagship Atlas and Beacon products, with 8 new countries and 13 new retailers launched in 2020. Earlier this year, Stackline also launched its newest product, Ad Manager, which applies real-time automation to optimize e-commerce campaigns on Amazon, Instacart and Walmart.com. On average, brands that migrated to the Ad Manager platform received 37 thousand automated campaign optimizations per month, which generated a 39.4% ROI improvement. Stackline was recently awarded “Best Ad Analytics Solution” by the MarTech Breakthrough Awards earlier this year.
Building on this recent momentum, the company has continued to hire aggressively and now has 95 full-time employees across 3 global offices.
“E-commerce is accelerating in size, growth and complexity, driving the need for an end-to-end platform and a trusted partner to assist brands as they navigate this ecosystem of online retailers. Stackline has built a very impressive business on the back of these market tailwinds. We are thrilled to partner with Stackline during the next phase of the company’s journey in order to build the industry-leading, global e-commerce enablement platform,” said Olga Kaplan of Goldman Sachs.
Stackline is a retail intelligence and software company founded by a group of industry veterans and headquartered in Seattle, WA. The company’s technology optimizes e-commerce performance for thousands of the world’s largest brands and retailers. For more information, please visit www.stackline.com.
About Goldman Sachs Growth Equity
Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm’s long-term principal investing activity. As part of MBD, Goldman Sachs Growth Equity is the dedicated growth equity team within Goldman Sachs, with over 25 years of investing history, over $8 billion of assets under management, and 9 offices globally. For more information, please visit www.gs.com/gsgrowth.