Announcing Semantics3's latest round of funding
Entering our next phase of growth
Two years ago we had one goal:
To organize the world’s ecommerce data
Since then, we’ve been solidifying our role as a facilitator of ecommerce data, helping our customers supercharge their businesses with product and pricing data on tap.
In this time span, we’ve consistently grown revenue at 10–15% month-on-month, and worked tirelessly to delight our customers. Our team has also grown from a scrappy 5-person outfit to a well-oiled organization of 17 professionals working across our offices in two different continents.
Today, I am happy to announce that we’ve raised a bridge round financing of $1.55MM.
We previously raised $600K in a seed round soon after Y Combinator (YC W13)
This brings our total funding to $2.15MM.
Laurent and Patrice of E-Merge have both been fantastic partners and comrades-in-arms. They have supported us faithfully through the ups and downs of our company ever since they first invested in us in 2013. Couple of interesting facts about them:
(0) They belong to a rare class of investors, who actually move faster than founders and,
(1) They send gigantic boxes of premium chocolates (to each team member!) each year.
We are thrilled to have them lead this round!
At Y Combinator (YC), we were advised to do just four things:
(0) Make things people want,
(1) Write (perl) code,
(2) Talk to users and,
(3) Do jumping jacks.
We have always taken that advice to heart and followed it judiciously, even long after we graduated from YC.
So, with this funding round, we hope to:
(1) Write less perl code,
(2) Talk to more users and,
(3) Do more jumping jacks (free gym memberships for all of our employees).
And of course, it goes without saying, all customers can continue to expect the same degree of fanatical customer support, which we will constantly strive to take to the next level.
These products have been introduced to better support our customers with access to fresher pricing data, more comprehensive coverage, and to support niche data use cases.
Two other product offerings that we have introduced and which I am extremely happy to announce are:
(0) Expanded UPCs — One of our best innovations to date. We’ve made massive improvements in tackling the fundamental problem of retrieving metadata for UPC codes.
(1) The Real Time API — Retrieving the latest, updated prices has always been a major challenge for our customers. We now fundamentally solve this with our Real Time APIs.
Continue to expect more innovations on the data front at a faster clip going forward!
In the spirit of under promising and over delivering, we generally don’t disclose our product roadmap, but I’d like to drop a couple of hints -
(0) We‘ve been working extremely hard on a brand new product that’s going to help ecommerce entrepreneurs better understand and grow their businesses. Stay tuned for more on this!
(1) Expect something really interesting this Thanksgiving/Black Friday.
There are never enough opportunities to thank our customers. So, a million thank yous to all of our highly engaged users and customers, with their constant feedback and encouragement — without them there would be no company. You will be hearing more from us!
And finally, many thanks to my fantastic team at Semantics3, who run the show and make it all happen.
Are you looking for an external data solution for your ecommerce needs? Talk to us today!
Published at: November 04, 2015