Software startup Marketplacer launched an Atlanta hub less than a year ago. Now, the company has raised $38 million to expand its U.S. presence and accelerate product development.
Why it matters: Marketplacer is an example of a global technology startup using Atlanta as a launchpad to expand throughout the U.S. IRONSCALES, an email security startup that just raised $64 million, opened its headquarters in Atlanta from Tel Aviv, Israel. Japanese robotics company Mujin and French robotics company Exotec both opened U.S. headquarters in Atlanta earlier this year. Marketplacer chose the city as one of its U.S. hubs because of its strong labor pool and international airport, Marketplacer U.S. President Jim Stirewalt said. Those strengths are often noted when companies open U.S. headquarters in Atlanta. The startup also has a presence in Denver and Dallas.
At a glance: Australia-based Marketplacer was founded in 2012 by CEO Jason Wyatt and director Sam Salter. The founders launched this venture after creating BikeExchange, an online marketplace for bikes. After developing the platform, they realized they could apply their marketplace concept to other industries. The software-as-a-service startup now provides a marketplace platform for 100 retail customers. Marketplacer started operations in the U.S. about eight months ago. The company has a team of 160 people, 20 of whom are based in the U.S.
What’s next: Marketplacer will use this round of funding to target customers in the U.S. and Asia-Pacific markets. The company also plans to increase sales and marketing efforts and product development. Marketplacer plans to add 10 people to the U.S. team. The company has a “distributed” workforce and does not have a physical office in Atlanta. But Stirewalt says Atlanta is a major hub for the company and has “some of our key talent.” The company is evaluating its needs for office space.
Inside the deal: Marketplacer has raised more than $85 million to date. New investors for this round include Fifth Estate, Washington H Soul Patterson and Wunala Capital. Other investors include Acorn Capital, Ellerston Capital, Endeavor Asset Management, Lennox Capital Partners, Mirrabooka, OC Funds, Salesforce Ventures and SG Hiscock.
