A Cincinnati venture-backed startup that bills itself as a turnkey "Amazon-as-a-service" provider has raised a new eight-figure funding round from a trio repeat investors.
Amify closed a $10 million Series B led by Houston’s Mercury Fund, locally based CincyTech and SaaS Ventures out of Washington, D.C., along with participation from several undisclosed angel investors.
The raise brings the company’s total funding to date to $15.8 million. Amify said it plans to use the capital to increase its investment in its team and to enhance its proprietary marketplace platform, which offers direct-to-consumer brands insights into their Amazon performance using data analytics, machine learning and artificial intelligence.
Amify, founded in 2010 in Alexandria, Va., opened an “HQ2” in Cincinnati in 2019. It’s since flagged the region as its primary home base with new headquarters space at Longworth Hall downtown.
Cincy Inno in November 2022 reported that move along with a series of leadership changes, including founder Ethan McAfee’s departure as CEO.
Chris Mehrabi, formerly Amify’s chief product officer, was promoted to CEO, and Christine McCambridge, most recently senior vice president of delivery, was named chief operating officer.
McAfee continues to serve on the company’s board of directors.
"We are delighted to have closed our Series B and are excited about the opportunities it presents for our company and our clients," Mehrabi said in a news release. "We will continue to invest in our technology and team, so we can better serve growing brands and deliver business success on Amazon."
Amify helps brands market themselves and/or their products on Amazon with advertising and content. It also provides warehousing and manages Amazon storefronts, oversees inventory and demand planning, as well as customer service and returns.
The company said the raise comes on the heels of continued growth on e-commerce marketplaces. Amazon is becoming increasingly dominant, Amify said, and businesses are continually looking for ways to optimize their presence and keep ahead of the competition.
Since its start, the company has partnered with hundreds of companies, including Procter & Gamble and Energizer, as well as local firms Under the Weather, a Linwood-based portable pods business; Robert Rothschild Farms, a maker of small-batch sauces; and Doscher’s Candy Co.
At last count, the company employed more than 60.
