SAN LUIS OBISPO, CA (BRAIN)—Shopatron just announced the completion of a $6 million Series B funding round.
San Francisco-based private equity firm Kern Whelan Capital,
led the round, with participation from existing investors, including Rivenrock Capital, a Los Angeles based private equity firm.
"This latest round of funding, along with the management team's proven ability to execute in the e-commerce market, will fuel Shopatron's continued success," said J.P. Whelan with Kern Whelan Capital, LLC. "Shopatron has
developed a solid business model and technology platform that has attracted a strong customer base, and we believe Shopatron is poised to make a significant impact on the e-commerce industry."
"Shopatron has developed a technology that will create a dynamic shift in how manufactures and retailers interact," said David Adams, with Rivenrock Capital. "We're thrilled to continue to back the Shopatron team."
Shopatron will use the capital to expand into new markets, develop and launch new services and expand its team. The company plans to continue to roll-out and further develop in-store pickup capabilities, as well as increase sales and marketing investments in order to support and service more manufacturer industries.
"We see substantial growth opportunities for Shopatron," said Ed Stevens, founder and chief executive officer. "Shopatron has been profitable and cash flow positive for seven consecutive quarters and this investment will allow us to more rapidly pursue these opportunities and take Shopatron to the next level."
To fulfill its growth goals, the company will be hiring for customer service, sales, marketing, software engineering, web design and human resources positions over the coming months.
Shopatron, Inc. is the leader in retailer-integrated e-commerce, allowing consumer brands to accept orders online and then fulfill these orders through shipment or in-store pickup from an authorized retailer or dealer. Shopatron manages a network of more than 400 consumer products manufacturers and 6,000 retailers, across 20 industries.