Last week ChannelAdvisor announced that we raised a round of funding from the top-tier venture capital firm, NEA (New Enterprise Associates). Why would someone like NEA invest in ChannelAdvisor? The simple answer is our customers. At CA we’re fortunate to be growing at 65% y/y and the number one reason we are growing so rapidly is our customers.
At ChannelAdvisor we work day and night to make you successful by providing you the features and functionality in our software that allows you to take advantage of the multi-channel opportunity (marketplaces, search, comparison shopping). These efforts are really paying off. We have large clients now that are leveraging CA for all of our services and even smaller players that got their start on eBay successfully evolving their businesses from eBay-only to multi-channel powerhouses.
What are you going to do with all that $?
The most frequently asked question I receive from customers is “what on earth is CA going to do with this level of investment?” The answer is simple. We have a vision for CA complete and we’re closer to that goal than we’ve ever been before, but it’s a big vision and we’re going to use the bulk of this investment to make it a reality. The good news is while we’re considered to be the most aggressive developers in the space, you’re going to see a dramatic acceleration in the innovation coming out of CA in the coming months.
So buckle up, hang on to your seats because it’s going to be a wild ride! – one we look forward to sharing with our customers.
P.S. I did my first IM Interview with Owen Thomas at B2 last week. I think many of the topics maybe interesting to blog readers.