BRISBANE, Calif., May 27, 2021 /PRNewswire-PRWeb/ -- Inxeption, the pioneer of I-commerce business services, today announced that global technology investor Coatue, with $40 billion in assets under management, has made a $61.5 million Series D investment in Inxeption. Coatue invests in both private and public companies and was an early investor in leading technology innovators including Spotify, Snowflake, Instacart, DoorDash, and Anaplan.
"We believe that Inxeption enables merchants to provide a unique e-commerce experience to its B2B customers. With its digital commerce platform, Inxeption provides a comprehensive solution that allows merchants to easily manage online selling, logistics, and financial services all in one place," said Co-founder of Coatue Thomas Laffont, who will be joining Inxeption's board. "We are proud to partner with the Inxeption team as they seek to transform the way B2B commerce is conducted."
"Inxeption has graduated to a new and exciting stage," said Farzad Dibachi, CEO and Co-founder of Inxeption. "Partnering with a world class institution like Coatue is such a pleasure, and we are thrilled that John Thompson, who has already done so much to support our growth as an investor and advisor, has agreed to become even more involved as a permanent board member."
"It's fun to watch the excellent execution of a truly big idea," added Thompson, who is also Venture Partner at Lightspeed Venture Partners. He previously served as CEO and Chairman of Symantec, and CEO of Virtual Instruments.
These developments follow an extraordinary period of growth for Inxeption. Use of the company's advanced, cloud-based platform soared during the last 18 months as more and more B2B companies embraced digital transformation. Inxeption offers a powerful array of innovative business services for logistics, online selling, ecommerce and supply chain finance, packaging, and more.
In Q1 ended March 31, Inxeption announced that total revenues had grown 550% year to year, and the "total commerce value" or TCV of products bought, sold, and shipped on the Inxeption platform increased 900% for the same period.
"In Q1 we accelerated customer growth and we executed over 200K transactions involving products ranging from industrial air purification systems, to sporting goods. We have more than 500 transacting customers ranging from global solar panel manufacturers to craft food and beverage companies. This growth and activity demonstrate the broad utility and value of I-commerce for companies of any size, in any industry," adds Dibachi. The company also opened a new Logistics Command Center in Louisville, KY in Q1.
Inxeption is the pioneer of Industrial commerce ("I-commerce"). Its secure and scalable cloud-based digital commerce platform brings the ease of consumer e-commerce to B2B. From one digital dashboard, companies of any size in any industry can drive more sales, gain operational visibility, and realize cost savings. Its integrated service offerings include merchant cash advances and other financial services, flat-rate logistics with shipping protection, web design, and strategic marketing. Inxeption's invitation to companies of any size is: Let's Do Business Better.
Coatue is one of the largest technology investment platforms in the world with more than $40 billion in assets under management. Our dedicated team of engineers and data scientists work closely with investment professionals to add value to founders and executive teams in our portfolio. With venture, growth and public funds, we back entrepreneurs from around the globe and at every stage of growth. Some of our private investments have included Airtable, Ant Financial, Anaplan, ByteDance, Chime, Databricks, DoorDash, Instacart, Meituan, Snap, Snowflake and Spotify.
Miriam Tremelling, Inxeption, 415.595.5867, [email protected]