Skubana Raises $5.4M Series A Led by Defy Partners to Transform Commerce Operating Systems
Skubana Raises $5.4M Series A led by Defy Partners to Transform Commerce Operating Systems
Skubana powers orders, inventory, and business intelligence for the world's top high-volume brands and retailers
NEW YORK, New York, June 26, 2019 -- Skubana, the world’s first commerce operations platform with a built-in app store, today announces the close of a $5.4 million Series A and the appointment of Brian Lee, one of the world’s leading experts in building consumer and commerce brands, as a board member to help drive further expansion. The latest round was led by Defy Partners and backed by Advancit Capital and FJ Labs.
Skubana integrates with the world’s leading commerce platforms, point of sale systems, and third-party warehouses. By unifying fragmented pointed apps, the operations platform provides multi-channel, SKU-level reporting to brands to easily track their profitability with every single fee, including shipping fees. Brands who run their operations on Skubana, such as Bird Rides, Valvoline, and Death Wish Coffee, are reporting higher profitability, less overselling, and more automation.
“We are very excited about this funding round, as we could not have asked for better partners,” stated Chad Rubin, Co-founder and CEO at Skubana. "Closing this round is a testament to the work of our whole team, the quality of our customer service, and our innovative software. Our business has grown immensely over the past two years, and the capital raised will allow us to serve even more customers.”
Hundreds of digitally-native vertical brands (DNVB) now use Skubana’s multi-channel order and inventory management software to run their operations and increase profitability. The four-year-old SaaS company has seen tremendous organic growth in its customer base and is on track to double in size over the next 18 months.
With these funds, Skubana plans to reap the benefits of organic growth by significantly expanding over the coming months. With industry leading automation and machine-learning capabilities, the company plans to add a slew of portfolio products to address the complex business needs of modern retail. The funds will also be allocated towards growing Skubana’s app store ecosystem to expand the platform’s functionality and reach. The ultimate goal is to redefine the traditional ERP software model and demonstrate how easy it is for brands to manage new sales channels and fulfillment centers without significant investments in new staff.
Lee, an early investor of Skubana, will be joining the Skubana Board of Directors to provide operating experience, domain knowledge, and networks to help Skubana grow. A serial entrepreneur, Lee co-founded The Honest Company and founded ShoeDazzle after co-founding LegalZoom in 2000. Each has grown to more than $100 million in revenue thanks in part to Lee’s abilities to identify critical market voids and guide companies forward as they mature. Most recently, Lee partnered with Kobe Bryant to create Art of Sport. Lee is also part of Defy Partners’ Sage program.
Lee speaking on his appointment said, "Through the companies I have either co-founded, or invested in, Skubana will have amazing reach into eCommerce companies globally. BAM Ventures (of which I am a Co-Founder), has invested into over 100 e-commerce companies, which will bring a wealth of potential partnerships. When I first launched Shoedazzle and The Honest Company, one of our primary challenges was understanding how our products performed across channels. Skubana solves a core problem that thousands of brands face and no other competitor solves well.”
“We are incredibly excited about investing in Skubana as we know the space from experience and our Defy Sage Brian Lee,” said Neil Sequeira, Co-Founder and Managing Director of Defy, “Chad, DJ and the team are trailblazers in the commerce industry. We look forward to helping them grow an even larger business and expanding on the vision they had and opportunity ahead.”
Powering fulfillment, inventory, and business intelligence, Skubana is transforming commerce operations. Connect and import orders from every channel you sell on, including online shopping carts, marketplaces, retailers, and point of sale systems. View, manage, and synchronize your entire inventory across all sales channels, warehouses, 3PLs, dropshippers, and FBA distribution centers. Get actionable business intelligence to increase your profitability. For more information, visit https://www.skubana.com/
About Defy Partners
Founded in 2016, Defy is a Silicon Valley based venture firm exclusively focused on early Series A, an underserved part of the venture landscape. The firm launched in 2017 with a $151 million fund and closed its second fund of $262 million in early 2019. Defy was co-founded by long-term venture capitalists Neil Sequeira and Trae Vassallo, with a goal to invest in entrepreneurs and companies looking to solve complex problems. Defy's focus is to help companies, after seed funding, mature and scale into companies ready for growth capital. Connect with Defy at https://defy.vc/ and @defyvc