TORONTO – Technology Company TradeBear raised $10.5 million to fund its efforts to make e-commerce more accessible to the furniture industry.
“Without a modern platform, it’s impossible for the majority of furniture manufacturers to scale and manage their business online,” said Sam Vlessing, founder and CEO of CommerceBear and fourth generation of his family in the industry. furnishings. “Historically, manufacturers have been excluded from a significant part of the value chain, while retailers enjoy the biggest advantage. We now help them to be competitive and to sustain their business.
Inovia Capital led the round, with participation from Spider Capital, Watchfire Ventures, Garage Capital, WIN, Operator Ventures and FJ Labs. Several angel investors have also joined, including Burrow CEO Stephen Kuhl, Lightspeed President JD St-Martin and others at Stripe, Shopify, Airbnb, PayPal, Whatsapp and Uber.
“The e-commerce boom is just beginning for the furniture business and Sam’s knowledge of the industry positions CommerceBear in an ideal position to become a major player,” said Kory Jeffrey, vice president of technology at Inovia. “We are delighted to accompany them on this journey.”
CommerceBear plans to use the additional funding to add more home categories and expand integrations to provide new outlets for furniture makers to sell their products.
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