Total amount raised
$31.3 Million
Latest funding date
11/01/2020
Location
GlowRoad has successfully raised funds through four distinct funding rounds, attracting a total of seven investors, including notable names like IND Fund and Vertex Ventures. The platform, which facilitates social selling by allowing users to resell products directly from manufacturers and wholesalers, was eventually acquired by Amazon.
Keep reading to explore the intricacies of GlowRoad's fundraising journey and the investors backing this innovative platform.
What Is GlowRoad?
GlowRoad is a social selling platform based in Bangalore, Karnataka, India. It allows users to resell products directly from manufacturers and wholesalers through social networks. The company operates in the e-commerce, retail, and social shopping industries.
With an employee count ranging from 251 to 500, GlowRoad has successfully raised funds through multiple rounds and is backed by several investors. The company was eventually acquired by Amazon, further solidifying its presence in the market.
How Much Funding Has GlowRoad Raised?
- Series A
- Amount Raised: USD 2,800,000
- Date: September 2017
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and expand market reach.
- Series B
- Amount Raised: USD 10,000,000
- Date: March 2019
- Lead Investors: Accel, CDH Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's capabilities and better serve its users.
- Series B
- Amount Raised: USD 11,500,000
- Date: May 2019
- Lead Investors: Korea Investment Partners, Vertex Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further growth and expansion of the reseller network.
- Series Unknown
- Amount Raised: USD 7,000,000
- Date: November 2020
- Lead Investors: Accel
- Valuation at Round: USD 75,000,000
- Motivation Behind the Round: To continue scaling the business and expanding market reach.
Total Amount Raised: USD 31,300,000. Current Valuation: USD 75,000,000.
Key Investors
- Accel
- Details: Accel is a global venture capital firm that has been investing in technology companies since 1983. They have a strong presence in Silicon Valley and have backed numerous successful startups.
- Investment Focus Areas: Technology, Internet, Software
- Notable Investments: Facebook, Dropbox, Slack
- Vertex Ventures
- Details: Vertex Ventures is a global network of venture capital funds. They focus on early-stage investments in technology and healthcare sectors.
- Investment Focus Areas: Technology, Healthcare, Enterprise
- Notable Investments: Grab, Waze, CyberArk
- Korea Investment Partners
- Details: Korea Investment Partners is a leading venture capital and private equity firm based in South Korea. They have a diverse portfolio across various industries.
- Investment Focus Areas: Technology, Healthcare, Consumer Goods
- Notable Investments: Naver, Kakao, Coupang
- CDH Investments
- Details: CDH Investments is a private equity and venture capital firm based in China. They manage a range of funds including private equity, venture capital, and real estate.
- Investment Focus Areas: Healthcare, Consumer, Technology
- Notable Investments: Belle International, WH Group, China Mengniu Dairy
- IND Fund
- Details: IND Fund is an investment firm that focuses on early-stage startups. They have a strong interest in innovative and disruptive technologies.
- Investment Focus Areas: Technology, E-commerce, Fintech
- Notable Investments: Not publicly disclosed
What's Next for GlowRoad?
GlowRoad stands at the cusp of significant growth opportunities, driven by the expansion of its women-centric reseller network. With a recent valuation of $75 million, the company is well-positioned to leverage its $7 million funding to scale operations and enhance its technological infrastructure. This expansion could attract further investments, enabling GlowRoad to diversify its product offerings and reach new markets.
However, the path forward is not without challenges. The company must navigate intense competition from other social commerce platforms while maintaining the quality and reliability of its reseller network. Adapting to changing market dynamics and consumer preferences will be crucial for sustained growth. Despite these hurdles, GlowRoad's strong market position and investor confidence suggest a promising future, potentially marked by additional fundraising and acquisition interest.
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