Australian retail order management company Fluent Commerce has completed its Series B financing, raising AU$33 million.
The round was led by Santa Monica-based Arrowroot Capital, a leading US growth equity firm specialising in B2B software. The funds will be used to drive sales and marketing, accelerate product development and continue to expand globally.
Fluent Commerce provides cloud-based order management software for omnichannel merchants allowing them to offer services such as click & collect and ship from store. It was established as part of ParcelPoint but was spun out as a separate company in 2016. That same year Graham Jackson, the former APAC vice president of SAP Hybris, joined the Fluent Commerce as CEO.
Its customers, which span Australia, Europe and North America, include Woolworths, Target, JD Sports, Conbipel, Etro, El Palacio de Hierro and Pokemon.
“This is a very exciting time for Fluent Commerce, we are delighted to have gained support and investment from Arrowroot,” said Graham Jackson, CEO of Fluent Commerce.
“This is a terrific validation of all the hard work put in by our teams and our partners over the last four years in building and implementing solutions that have real global appeal. With Arrowroot’s experience and partnership, we’re looking forward to enhancing our product capabilities, growing our global footprint, and driving significant improvement in customer experience and convenience for our client’s customers.”
Arrowroot Capital’s vice president Matt Klein and partner Clem O’Donnell will both join Fluent Commerce’s board.
Matthew Safaii, Arrowroot Capital’s founder and managing partner, said, “Fluent Commerce has built an impressive team and innovative technology that has provided the foundation of the company’s strong growth. Fluent Commerce solves complex omnichannel order management for retailers and brands that results in an improved customer experience. We look forward to partnering with the Fluent Commerce team and are excited to be a part of the company’s success.”