Mobile commerce platform NewStore raises $50 million in Series B funding
NewStore, the mobile commerce enterprise platform, announced on Tuesday that it has raised $50 million in Series B funding from Activant Capital, General Catalyst and founder Stephan Schambach’s personal funds.
Founded by in 2015, NewStore is a mobile retail platform that allows brands to deliver end-to-end shopping experiences for consumers. The platform is built entirely from a mobile perspective, it integrates with existing e-commerce platforms, and has one-touch purchasing, clienteling, and on-demand delivery.
Schambach, who founded standard online shopping software Intershop and software technology company Demandware, serves as CEO of NewStore and brings a wealth of retail and web knowledge to his new venture, NewStore.
“The future of retail is mobile,” said Schambach. “We are the only platform that delivers a full end-to-end omnichannel experience, from app to aisle. We take care of the heavy lifting for retailers, so they don’t need to spend precious resources on software development.”
The Series B funding increases the Boston-based company’s total funding to $90 million. NewStore will use the new capital to expand its platform and rollout the solution for retailers looking to realize their omnichannel aspirations.
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