Payments platform Square recently announced it has acquired Stitch Labs, an operations management platform for growing commerce brands. The acquisition comes less than a month after Square acquired Spain-based P2P payments app, Verse. Founded in 2011, Stitch Labs describes itself as the leading operations management platform for modern, high-growth brands.
“Purpose-built for today’s modern multichannel brands, Stitch helps brands optimize their two most important assets: people and inventory. Our platform focuses on empowering the operations team to align with marketing, sales, and finance to execute on big ideas, quickly.”
Stich also revealed it offers advanced capabilities in five key areas of a brand’s business: inventory management, order management, purchasing, fulfillment, and reporting and financials, as well as a full suite of consultative services by our in-house experts to help drive the business forward. Square further stated that while Stitch Labs won’t take on any new customers, its products will continue to operate for existing customers until Spring 2021. Square added:
“Longer term, we plan to sunset Stitch Labs’s products so the team can focus on building out Square tools, and we’ll work with existing customers to ensure that they have the resources and options they need to be successful transitioning off the platform.”