Cloud enabled Digital Commerce Platform, Logicbroker, Secures $135M+ from K1 Investment Mgmt

Logicbroker, the Cloud-powered digital commerce platform providing full drop ship and marketplace functionality to suppliers, retailers, brands, and 3PLs, announced that it secured over $135 million from K1 Investment Management.

As noted in a release shared with CI, K1 is an investment company that’s focused on high-growth enterprise software firms internationally.

Peyman Zamani, CEO at Logicbroker, stated:

“Partnering with K1, a team that shares our passion for modernizing digital commerce, allows Logicbroker to scale globally. With K1, we will continue to deliver the latest technology and solutions to our customers and help them succeed wherever they choose to sell and however they choose to ship.”

Logicbroker aims to empower clients with selling more products, reach more customers and pivot as needed to maintain an edge in the digital commerce sector.

Through Logicbroker, brands like Mars Wrigley and Samsung connect to retailers such as Amazon, Walmart, and Walgreens. Over 4,000 firms depend on Logicbroker to manage $5+ billion in gross merchandise value yearly.

Jennifer Raber, Director of Retail Digital Business Enablement at Walgreens.

“Walgreens moved to Logicbroker due to its modern technology, ability to support enterprise compliance requirements, and the fact that our suppliers would not have to incur any costs to participate in the Walgreens drop ship program,”

Raber added:

“In our research, one of Logicbroker’s other clients gave us the feedback that Logicbroker was a partner, not just a service provider. I could not agree more; they have a strong ‘we are one team’ mentality and are responsive and supportive. Our suppliers have also given strong feedback on the support they receive from Logicbroker. I look forward to what the future brings.”

This partnership comes at a time when omnichannel customer engagement “plays a critical part in companies’ success,” the announcement noted.

The Aberdeen Group found that firms with solid omnichannel customer engagement retain “on average 89% of their customers, while those with weak engagement retain only 33%,” the update revealed.

Drop shipping is a key component of omnichannel growth, “with drop shipping revenues expected to top $534 billion by 2025.”

Logicbroker’s goal is to “deliver next-level drop ship automation, and it has also revolutionized marketplace selling through its curated marketplace solution,” the announcement noted.

GP Bullhound served as the financial advisor to Logicbroker on the deal.

As mentioned in a release, Logicbroker focuses on establishing connections that power growth for retailers, brands, and suppliers in the international digital marketplace. Their robust drop-ship platform “connects buyers, sellers, 3PLs, and the systems they rely on at record speed, empowering them to sell more products, reach more customers, and pivot quickly to maintain their edge in the … eCommerce universe.”

They connect brands such as M&M Mars, Fossil, Coca-Cola, Hasbro, and Samsung to retailers like Amazon, Walmart, Walgreens, Kroger, Rite Aid, and Staples.

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