Nautical, the Shopify of marketplaces raised 30M in a series funding round.
Currently, a lot of marketplaces use Mirakli's software. We at Meezy are not so satisfied with it and have already discussed many times that there will be a new player in the market that will dominate and now it’s big time. Nautical enables retailers, brands, B2B businesses, and startups to quickly launch a company-operated marketplace, with implementations as fast as 90 days, helping increase customer reach without the cost of custom software.
The market needs a solution like this
In 2020, consumers and businesses spent nearly $3 trillion for purchases on the 100 biggest online marketplaces alone — a number that’s predicted to grow by 14% every year. However, legacy commerce platforms that serve today’s marketplaces weren't designed for the complexity of multiple vendors. Nautical was purpose-built for multi-vendor commerce, giving each player in the marketplace – buyers, sellers, and operators – a curated experience. With Nautical, marketplace operators no longer need to assemble their platforms with a combination of plug-ins or spend millions on custom software.
The founding story
Ryan Lee, Co-founder & CEO of Nautical helped Apple launch Apple Pay internationally in 16 countries, led product at fintech startup ModoPayments, and built a logistics platform at Turvo.In these roles, he had conversation after conversation with large enterprises and B2B businesses that wanted to augment their offering with a marketplace, but were spending years and millions of dollars to do it.
Each of these enterprises were building a custom multi-vendor solution complete with custom built payments, logistics, and commerce integrations. Every new connection increased the complexity of their marketplace stack and required constant management and maintenance. There was no off-the-shelf marketplace platform that enabled enterprises to quickly launch a marketplace without necessitating a replatform.
Nautical will use the funds to further develop its multi-vendor marketplace platform, expand its reach into new markets, and grow its engineering, product, customer success, and sales and marketing teams. Nautical plans to add over 40 new team members over the next 18 months.
As mentioned earlier, we believe in the potential of Nautical. Would you like to be among the first to sell with your brand on the marketplaces built on Nautical? Be sure to book a 1:1 free consultation with us.⬇️