Narvar raises $22m in Series B funding round
Narvar – a company which aims to help online retailers give their customers a positive “post purchase experience” – has announced that it has raised $22m in a Series B funding round led by Battery Ventures and supported by Fung Capital, Accel Partners and Freestyle Capital. The California-based start-up has developed a suite of “customer engagement tools” which enable retailers to offer online shoppers more control over their delivery and returns options.
In a blog posted yesterday (23 June), Narvar’s CEO Amit Sharma said: “Faster and more convenient delivery options coupled with higher expectations for customer communications and ease-of-return make Narvar an essential partner for retailers to stay a step ahead of Amazon and new eCommerce entrants.”
Sharma added: “In the past year, we’ve expanded our reach to over 300 brands, including Neiman Marcus, Sephora and NET-A-PORTER, exponentially growing our end-user base. Our revenue has quadrupled, and we now serve the combined online customers of 77 of Internet Retailer’s Top 300 companies. In 2016 alone, we’ve doubled headcount, and look to expand our team to over 100 by the end of the year.”