Marketplacer just raised another $38 million, says it’s still thinking about an IPO

Software platform Marketplacer has raised another $38 million from private investors after the 2021 IPO the company mooted 13 months ago, following a $20 million raise, failed to proceed.

The company, which provides ecommerce solutions for retailers such as Myer, Woolworths, Metcash and Bob Jane T-Marts, is now reportedly considering 2022 as a public listing option.

Fifth Estate, Washington H Soul Patterson and Wunala Capital signed on as investors for the first time for this cash injection, joining existing backers Acorn Capital, Ellerston Capital, Endeavor Asset Management, Lennox Capital Partners, Mirrabooka, OC Funds, Salesforce Ventures and SG Hiscock.

The nine-year-old business has now raised more than $85m in private capital, including $10 million in 2015 and $11 million in 2016.

It plans to use the fresh funds for US expansion, to broaden its product suite and accelerate its partner program,

Marketplacer enables brands, retailers, and others to build online marketplaces at scale. It has more than 100 marketplaces globally.

Founder Jason Wyatt said businesses have accepted that a marketplace strategy is the next big growth lever in commerce

“This latest funding round enables us to continue our focus of offering enterprise clients modern, intuitive and scalable technology which has flexibility and ease on how they integrate services, applications and providers,” he said.

“At the same time, it will enable us to amplify our sales and marketing efforts and accelerate our product development, taking our offering to enterprise customers in the United States, Asia Pacific and beyond”.

Ellerston Capital portfolio manager David Keelan said Marketplacer’s blue chip customer base and ambitious expansion strategy made it an attractive proposition.

“Marketplacer has earned a stellar reputation for its technology platform, customer experience and double-down focus on being ten steps ahead of market requirements,” he said.

“We look forward to being part of the Marketplacer success story as it expands its scope and enters international markets.”