Creator economy e-commerce platform SamCart raises $82m Series B
SamCart, an e-commerce platform for the creator economy, has raised $82 million in a Series B funding round.
SamCart raises $82m to help support growing creator economy
The round was led by Eldridge and saw participation from existing investors TTV Capital, Fin VC and the George Kaiser Foundation, alongside new investor eGateway Capital.
SamCart CEO and founder Brian Moran says that as “the creator economy expands and revolutionises more aspects of commerce”, the firm aims to “maximise and monetise creators’ success online”.
SamCart’s subscription-based platform offers specialised tools for online content creators, including revenue optimisation and diversification, payments processing and customer conversion and relationship enhancement capabilities.
“Solopreneurs, emerging and established creators face many obstacles managing diverse channels while scaling their revenues,” says Moran, commenting on a market worth an estimated $104 billion.
The Series B cash will be used to expand its team and develop new features for the platform. The company has recently launched a service to help brands launch online courses, and an auto-enrolment feature which SamCart claims increases student engagement by as much as 30%.
Founded in 2014, SamCart currently supports more than 30,000 businesses and has processed more than $2.2 billion in sales to date.
