$55 Million Investment Fuels Elevate Brands’ Acquisition Strategy to Purchase & Scale Quality Amazon Marketplace Brands in ...
25 Febrero 2021 - 8:15AM
Business Wire
The acquirer of e-commerce businesses is
building a dynamic portfolio of 100 category-leading digitally
native brands
Elevate Brands, a leader in acquiring and operating Amazon
third-party businesses, today announced it raised over $55 million
in committed funds from a global group of leading fintech and
e-commerce business leaders that includes FJ Labs, Novel TMT,
Acceleprise.VC, Mons Investments, Pandu Sjahrir from Indies
Capital, Adam Jacobs from the Iconic and Rob Tarkoff, EVP of
Oracle.
As an Amazon operator since 2016, Elevate Brands acquires,
launches and operates leading consumer Amazon brands and “elevates”
them to their full potential. The company is expanding rapidly
through a targeted acquisition and post-acquisition brand growth
strategy. Since acquiring its first Amazon business more than 12
months ago, Elevate Brands reported more than 100% average
post-acquisition growth across its portfolio and is expected to hit
$150 million in revenue by the end of 2021. The company is poised
to be one of the leading platforms in the marketplace.
“The commitment from our leading group of e-commerce and fintech
investors further validates our strategy and is a testament to our
operational strengths that have led to rapid sales growth for our
portfolio of brands,” said Ryan Gnesin, CEO of Elevate Brands. “We
started this journey four years ago as sellers ourselves, and this
deep operational experience on Amazon allows us to truly relate to
other business owners in the ecosystem. Sellers seeking a
successful exit are coming to us because they know we will be good
stewards of the brand they’ve worked so hard to build.”
“It was great to work with the friendly folks at Elevate Brands
because they are true professionals and I would highly recommend
them to anyone that is considering selling their Amazon business,”
said Andy Slamans, Amazon FBA (fulfilled by Amazon) Seller. “I was
nervous about selling my business because of my bookkeeping, but
they did all the heavy lifting to build out my P&L. They
executed the purchase of my brand flawlessly, and I’m amazed at the
growth they have been able to achieve in such a short time.”
The Amazon Third Party Seller Marketplace generated $300 billion
in annual sales in 2020, a significant increase from $200 billion
in 2019. Elevate Brands uses a data-driven approach to acquiring
businesses, finalizes its underwriting process within 30 days, and
deploys its operational strengths immediately upon acquisition to
grow its portfolio both locally and globally.
While Elevate Brands is optimizing brands to scale on Amazon
today, they are also building a marketplace-agnostic strategy to
support each brand’s long-term growth. Elevate Brands plans to
build legacy identities that will touch consumer lives for years to
come by prioritizing its marketing & creative services
department.
“The Elevate Brands team are best-in-class operators first and
foremost -- that’s why we’re backing them,” said Hersch Klaff.
“Their leadership team’s unique background of M&A, e-commerce
marketing, and operations, combined with a proven track record both
on and off Amazon, gives us a high level of confidence in the
team’s ability to build a successful business in what is now one of
the fastest-growing sectors of the economy.”
The company offers Amazon Third Party sellers clear and
compelling exit opportunities with fair, transparent valuations.
Its global network provides new brands with a unique ability to
scale quickly and achieve sustainable long-term growth.
About Elevate Brands
Founded in Q4 2016, Elevate Brands taps into the high-growth
Amazon Third Party Seller Marketplace, a $300 billion marketplace
that is expected to double in the next five years. Elevate Brands
specializes in acquiring, launching and operating leading consumer
Amazon brands. Elevate Brands has a global team of industry leaders
with headquarters in New York and Austin, TX. Its broad network of
resources provides a unique ability for brands to scale quickly.
The company structures its underwriting process to execute quickly,
closing the deal within a matter of weeks, not months. The company
founders previously built their own brands on Amazon, bringing
valuable insight to the challenges that sellers face.
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Tiffany Rodriguez trodriguez@olmsteadwilliams.com
951.727.6229