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NewStore Raises $45 Million in Series B-1 Financing Round to Accelerate Company Growth

Posted by Neal Quesnel on Jul 7, 2021

The leading omnichannel store solution will use the investment to fuel its go-to-market strategy, expand globally, speed up product development, and increase employee headcount

BOSTON – July 7, 2021 – NewStore, a turnkey omnichannel store solution, today announced it has secured $45 million in Series B-1 funding. This strategic investment comes after the company saw significant global growth in the first half of 2021, in which it grew its SaaS revenue over 100% year-over-year. These wins also expanded NewStore’s geographic footprint, which now includes 20 countries across North America, Europe, and Asia Pacific.

The success of NewStore stems from the company’s fast, flexible, and easy-to-use omnichannel store solution. As the retail industry realizes the promise of omnichannel, NewStore is positioned to support brands of all sizes. This is because the platform was built from day one as a native SaaS, cloud-based solution. NewStore’s strategy aligns directly with the needs of modern retailers as they look to offer the new capabilities and experiences that today’s consumers have come to expect.

“The pandemic created a rush to adopt omnichannel in the retail industry, and NewStore’s platform was perfectly positioned to help the brands looking to make the transition,” said Stephan Schambach, Founder and CEO, NewStore. “By providing omnichannel-as-a-service that can be activated in-store with just an iPhone, we give retailers a turnkey solution for everything from BOPIS to store fulfillment to remote selling, and more. This is the foundation of our success, and the latest investment will allow NewStore to build on this momentum as omnichannel continues to be a strategic imperative for all retailers.” 

NewStore also achieved a number of other key milestones in the past year. These include: 

To learn more about the NewStore Omnichannel Platform, and to request a demo, visit: https://www.newstore.com/

About NewStore
NewStore is a turnkey omnichannel store solution for global DTC brands. The company delivers Omnichannel-as-a-Service with the first cloud platform combining POS, order management, inventory, and clienteling. Store operations from endless aisle to mobile checkout to fulfillment are possible with just two remarkably intuitive iPhone apps. NewStore customers include brands such as Burton Snowboards, Decathlon, GANNI, Goorin Bros, Marine Layer, Outdoor Voices, and UNTUCKit. It is backed by General Catalyst, Activant Capital, and Salesforce Ventures. Learn more at www.newstore.com.

Media Contact
NewStore
Ryan Lemos
Manager, Corporate Communications
rlemos@newstore.com

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