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Today, e-commerce accelerator Mønster announced its $ 225 million equity investment for its machine learning and AI-powered logistics.
This is not your grandmother’s e-commerce. The old days of running your e-commerce jalopy through targeted ads that rely on eye-catching clickbait graphics have become a fast-growing, $ 6 trillion technology-driven global marketplace. Organizations looking to leverage a global marketplace often have to hack different solutions together for different digital channels. In the last year, aggregators such as Thrasio, Aborre and Razer Group together raised more than $ 7.7 billion.
Pattern’s round is led by Knox Lane and includes full pro rata participation from existing investors, bringing Pattern’s total pre-monetary valuation to $ 2 billion. “As e-commerce and digital marketplaces continue to evolve rapidly, we believe that Pattern’s offerings become increasingly attractive to potential brand partners as they navigate the dynamic digital trading landscape,” said Knox founder and managing partner John Bailey.
This investment will enable Pattern to further develop its machine learning technology and expand their global presence. Pattern was founded in 2013 and has been reporting profits since its inception and expects their revenue to exceed $ 1B in the next 12 months. Patterns boasts a 210% increase in the number of employees since 2018 with approximately 900 employees in 18 countries.
“We have a strong belief in Pattern’s comprehensive platform and global capabilities and look forward to working closely with the entire Pattern team to support their ongoing growth and leading global position,” said Bailey. Pattern is now Utah’s first female-founded / co-founded unicorn, as well as one of the biggest increases from an e-commerce accelerator.
“We are excited that Knox Lane has joined our mission,” said Pattern co-founder and Chief Investment Officer Melanie Alder. “Their partnership and investment will enable us to further accelerate the technology and intelligence services that drive our platform, while expanding our global offering.
At the time of writing, Pattern’s customers – including Panasonic, Nestle, Pandora, Sorel, Black Diamond, Zebra and Kong – are counting on their technology and services to produce results in more than 100 countries on hundreds of global marketplaces (including Amazon, Walmart, Target, eBay, Google, Tmall, JD and MercadoLibre) and other digital channels.
Brands targeting e-commerce and market placement acceleration platforms – with companies such as Pattern, Spreetail and Netrush – seek to capture market share and maximize profits. What used to be a multi-platform field for many companies leveraging specialized categories is rapidly growing into a huge decentralized industry for warehousing and fulfillment, while each promotes its e-commerce acceleration platform.
And it is possibly the best possible way rather than brand recognition, online sales and fulfillment of goods. Allison Burch, national account manager at Paslode, a division of Illinois Tool Works, reported a 122% increase in Amazon revenue, saying that Pattern had been a huge factor in their online success. “Their reporting and breakdown of our biggest lost sales is nothing short of impressive.”
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