Elevaate, today announced a further $1.2m funding round with investment firm Notion Capital.
The Elevaate platform creates new featured shelf space within a retailer’s digital presence, allowing both retailer and supplier to have more control over product positioning.
“Elevaate has been built from the ground up for retail in the digital age” said Simon Harrow, CEO, Elevaate.
“We’ve built an incredibly talented team of seasoned retailers that understand the challenges facing the industry. We’re excited to be working with Notion Capital on building a scalable enterprise class solution that can address those issues.”
The Elevaate platform opens up new opportunities for collaboration between retailers and suppliers. The foundation is a real-time bidding system that provides the flexibility to serve any product at any time into the shopper’s digital journey.
Since launching in April 2015 Elevaate has seen aggressive traction with over 10m products served through the platform and an average of 30% growth week on week.
This advanced technology requires no edits to the existing code base or CMS providing a credible solution to the problems of cumbersome, legacy systems without disruption to the business.
A mix of leading brands – both retail and suppliers – are already rolling out across multiple categories and seeing an enormous step-change in performance benefits.
‘Elevaate is well beyond the proof of concept stage and we’re delighted to be funding the next step of this growing start-up business’ said Chris Tottman, Partner at Notion Capital, ‘Digital Retail is a hot topic and Elevaate is a cloud platform built to scale globally as it transforms a retailers’ ability to recognise new growth in their digital channels while creating tangible benefits for customers and suppliers.’