Multi-channel technology company Vcommerce lands $3.5 million in funding
Scottsdale, AZ-based Vcommerce Corp., a provider of multi-channel retail systems, has closed a $3.5 million round of funding and a $1.5 million line of credit, the company announced today. It says it will use the funds for sales and marketing.
"This is a proven management team with a common sense approach to business. Vcommerce clearly understands the importance of customer results and we see a great deal of potential in its solutions," said Tom Thomas, managing director, Peacock, Hislop, Staley & Given Inc., a Phoenix-based investment banking firm that was placement agent for the private offering. "Prospects and investors alike are excited about Vcommerce`s low-upfront-cost, pay-as-you-go model, which has been a key factor in the company`s sales traction. We had to turn away a number of interested investors."
Vcommerce, which re-launched earlier this year, said the entire funding process took only four weeks from start to finish, rather than the months that such funding usually takes.
Vcommerce provides technology that captures, sources and manages orders in multi-channel retail environments. Vcommerce focuses on direct-to-consumer transactions in multiple channels, such as e-commerce, phone order entry, kiosks or catalogs.
Clients can outsource some or all of their commerce functions—from order capture to fulfillment to reverse logistics—or use Vcommerce`s web-based tools to manage the process themselves. The Vcommerce system features a management console that allows companies to control high-volume order traffic across complex supplier networks. Customers include Gateway, Borders, GE and Waldenbooks.
The line of credit is provided by Comerica Bank.
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