Elevate to Accelerate its Growth with New Funding
Elevate intends to use the new capital to accelerate its M&A strategy, grow its worldwide sales channels, and invest in its technological platform.
Fremont, CA: Third-party financing can be a valuable source of funding for a company to help it grow; there are many benefits to employing it, but a company must be careful not to risk the firm's financial health. Elevate Brands, a leader in obtaining and maintaining Amazon third-party businesses, has managed to raise $55 million in equity capital from Soroban Capital, Upper90, and Oaktree Capital Management. This follows their previous Series B $250 million loans and equity investment, led by Upper90, in July 2021.
Elevate intends to use the new funds to accelerate its M&A strategy, grow its worldwide sales networks, and improve its technological platform. Presently, the company has 30 Amazon Marketplace brands with more than a $100 million sales run rate. Will's Wine, Essential Values, and Active Chews, all leaders in the Home & Kitchen and Pet Supply areas, have been recently acquired. Elevate recently launched its second headquarters in Austin, and its worldwide workforce of marketers and operators has expanded by more than 600 percent since January 2021, and it is still growing.
“We are operators first and foremost and will continue to build our global team of world class brand builders,” said Ryan Gnesin, CEO of Elevate Brands. “This latest round of funding confirms our investors' confidence in our operating team, quality of existing brand portfolio, and deep pipeline of M&A targets.”
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