Total amount raised
$3.2 Million
Latest funding date
8/1/2016
Location
MikMak has raised funding over three rounds, with the latest being a Series A round involving ten investors, including Wavecrest Growth Partners as a lead investor. The company has also made three acquisitions, with the most recent being ChannelAdvisor-Brand Analytics.
Keep reading to explore the intricacies of MikMak's fundraising journey and the investors backing this innovative platform.
What Is MikMak?
MikMak is a technology company based in Brooklyn, New York, specializing in digital commerce platforms that assist brands in driving consumer purchase conversions. The company operates in various industries, including advertising, brand marketing, digital marketing, retail, and shopping.
Founded with the aim of optimizing marketing efforts and driving sales, MikMak has grown to employ between 101-250 people. The company has a global presence with offices in New York, Chicago, and Paris, and has been acquired by SPINS.
How Much Funding Has MikMak Raised?
- Seed Round
- Amount Raised: USD 4,000,000
- Date: August 2016
- Lead Investors: Vayner Media
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and development of the platform.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: July 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch the company and develop its initial product offerings.
- Series A Round
- Amount Raised: USD 10,000,000
- Date: August 2020
- Lead Investors: Wavecrest Growth Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To capitalize on the surge in e-commerce demand due to the pandemic, expand market share, and support international expansion.
Total Amount Raised: USD 14,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Wavecrest Growth Partners
- Details: Wavecrest Growth Partners is a growth equity firm that led MikMak's Series A funding round. Deepak Sindwani, Co-Founder of Wavecrest Growth Partners, joined MikMak's board of directors as part of the investment.
- Investment Focus Areas: Growth-stage companies, technology sector.
- Notable Investments: Not specified in the sources.
- Luminari Capital
- Details: Luminari Capital is an existing investor in MikMak. The firm typically invests in media and technology companies.
- Investment Focus Areas: Media, technology.
- Notable Investments: Not specified in the sources.
- Brave Ventures
- Details: Brave Ventures is an existing investor in MikMak. The firm invests in media, technology, and consumer sectors.
- Investment Focus Areas: Media, technology, consumer sectors.
- Notable Investments: Not specified in the sources.
- Madrona Venture Group
- Details: Madrona Venture Group is a new investor in MikMak's Series A funding round. The firm focuses on early-stage technology companies.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Not specified in the sources.
- Brett Hurt
- Details: Brett Hurt is the founder of Bazaarvoice and a new investor in MikMak. He has a background in e-commerce and technology.
- Investment Focus Areas: E-commerce, technology.
- Notable Investments: Bazaarvoice.
What's Next for MikMak?
MikMak stands at the cusp of significant growth opportunities, driven by the accelerated demand for e-commerce solutions. The company plans to expand its market share, advance its product roadmap, and extend its services internationally. With the e-commerce market booming, MikMak's potential to capture a larger share is immense, especially as it aims to triple its employee base and enhance its data analytics capabilities.
Future fundraising opportunities seem promising, given the increased interest from venture capitalists and the company's robust growth metrics. As MikMak continues to innovate and expand, additional funding rounds could support further technological advancements and global expansion. However, the company will need to navigate challenges such as managing rapid growth, scaling operations effectively, and competing with other e-commerce platforms.
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