Shop Circle announced the closure of its Series B funding round, securing $60 million in new capital.
The funding round was led by Nextalia Ventures, a fund managed by the investment platform of Nextalia SGR S.p.A., with over “$1.6 billion in assets under management.”
Additional participants included Endeavor Catalyst, known for its investments in over 50 unicorn companies, along with continued “support from existing investors such NFX, QED Investors, 645 Ventures, 3VC, CDP Venture Capital (Corporate Partners I – ServiceTech Fund), The Techshop, Primo Capital, GS Futures and i80 Group.”
According to the company, the investment round highlights investor “confidence” in Shop Circle’s innovative business model and growth.
With year-over-year revenue increasing by 110% and increasing profitability achieved for two consecutive years, Shop Circle is “positioned to broaden its B2B software offerings and expand into adjacent verticals through targeted acquisitions.”
Luca Cartechini, CEO and co-founder of Shop Circle said:
“Sustaining growing profitability for two consecutive years while achieving exceptional revenue growth underscores the value we consistently deliver to our customers. Artificial intelligence is becoming increasingly accessible and deeply integrated into software. The declining cost of computing and the advancement of open-source models are transforming the industry, enabling us to innovate faster and deliver even greater value to our customers. This funding empowers us to accelerate our growth trajectory, with the goal of doubling revenues again over the next 12 months and reinforcing our position as a leader in the B2B software space.”
A cornerstone of Shop Circle’s business model is its focus “on commerce-centric products powered by artificial intelligence (AI).”
These innovations streamline operations, “generate efficiencies for businesses, and create value for end customers.”
By leveraging insights from its global user base, Shop Circle has “developed a deep understanding of business performance and the ability to anticipate customer needs effectively.”
With this funding, Shop Circle has “completed its first platform-agnostic acquisition: Aiden, an AI-powered guided selling software.”
Aiden, “trusted” by enterprise customers such as LG, Prenatal, and Intersport, is a strategic addition to Shop Circle’s portfolio, “enabling it to serve a broader spectrum of businesses, from SMBs to enterprises.”
Luca Cartechini added:
“Our evolution from a commerce platform to a comprehensive B2B software provider demonstrates our commitment to meeting the complex needs of our customers. We look forward to delivering even greater value to our growing customer base, which already includes over 120,000 businesses globally.”