No one can deny the internet has opened the doors on the global marketplace for businesses large and small. But, while ecommerce is an easy way for companies to expand their reach, it has created a new set of marketing challenges. – which is where Flow comes in.
Flow is a cloud-based, global ecommerce platform that was designed to localize the consumers shopping experience while eliminating some of the challenges ecommerce businesses face such as multi-currency pricing and payment options, international shipping, taxes, duties, and simple returns.
The New York-based company was founded in the summer of 2015 by CEO Rob Keve, founder of Fizzback(acquired by NICE) and CTO Mike Bryzek, co-founder of Gilt (acquired by HBC). The duo are pioneers in the ecommerce industry and “Flow is the solution Rob wished he had at Fizzback to show best practices in customer experience and Mike wished he had at Gilt to generate international sales.”
Last week, on April 06, Flow announced the close of their Series A funding round with $16 million raised. The financing round was led by Bain Capital Ventures and included participation by Fung Capital, Forerunner Ventures, and a few other investors including Gilt’s Alexandra Wilkis Wilson and Alexis Maybank.
In a post on LinkedIn, Steve Anastos, Principal at Bain Capital Ventures stated, “In a time when retailers are under siege, exploiting new sources of demand is on every CEO’s priority list. Flow has the opportunity to change the game for cross-border commerce, improving the outcome for consumers and brands/retailers alike. We’re thrilled to partner with Rob, Mike and the team at Flow to help make that happen!”
“The team at Flow has created a powerful platform designed to revolutionize the global e-commerce process which has largely remained cumbersome and intimidating for both merchants and consumers,” remarked Kirsten Green, founder and managing director of Forerunner Ventures with John Seung, managing partner at Fung Capital adding, ““By removing the challenges typically associated with international e-commerce, Flow is well-positioned to be an industry game changer and reshape global commerce.”
In a press release on BusinessWire.com, Flow CEO Rob Keve said, “We are thrilled to partner with such a prestigious group of investors, whose collective track-record with and experience of building powerful new disruptive technologies and brands in the retail space will be instrumental as we work to eliminate friction for merchants and uncertainty for consumers when shopping internationally.”
With such an experienced team at the helm and a growing list of influential partners, Flow is poised to cause some major disruptions in the ecommerce world in the years to come. Want to learn more? Check out this informative article on TechCrunch.
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