Baltimore-based eCommerce marketing and fulfillment technology company Whitebox announced it has wrapped up a $20 million fundraising round that it will use to enhance its Omnifi technology platform and hire senior talent to meet what it called “unprecedented demand,” Technical.ly reported Tuesday (Jan. 4).
Whitebox works with major brands and direct-to-consumer (D2C) startups on marketing, fulfillment and shipment of eCommerce orders from across different marketplaces, according to the report. The company added Kenneth Lim as chief revenue officer in November.
Equity growth firm Delta-v Capital led the most recent fundraising effort for Whitebox, joined by existing investors, including growth equity firm Noro-Moseley Partners, TDF Ventures, Kilkea Charles and MRE Capital, the report stated.
Whitebox has raised a total of about $47.6 million in investment capital, including June 2019’s Series A round and September 2020’s Series B effort, according to the report.
“Whitebox’s team and technology are uniquely positioned to capitalize on the potential of eCommerce for brands like no other company,” Whitebox CEO Marcus Startzel said per the report. “This additional investment not only validates the continuous momentum we’ve achieved but will enable us to advance our technology to leverage disparate data sets and deliver winning strategies across the marketing funnel and deep into operations.”
In other news, Verifi CEO Matthew Katz told PYMNTS CEO Karen Webster earlier this month that better communication between issuers and merchants is the key to resolving eCommerce-related disputes early, preventing chargebacks and improving the customer experience.
Read more: Rapid Dispute Resolution Makes for ‘Cleaner’ eCommerce Ecosystem
Verifi’s parent company, Visa, is expecting a 66% increase in digital payments by 2025, driven by transactions made with no card present, according to Juniper Research’s November 2020 study, “eCommerce Payments Deep Dive Data & Forecasting 2020-2025.”
Verifi has been expanding its Rapid Dispute Resolution (RDR) decision engine to automate dispute resolution, Katz told Webster.
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