Tictail, headquartered in Stockholm, provides a do-it-yourself e-commerce solution that allows the set up of a virtual store in minutes. Dubbed ‘the Tumblr of e-commerce’ by Wired Magazine in 2012, Tictail currently hosts more than 35,000 stores in 110 countries.
The funding round was led by Thrive Capital, a private equity and venture capital firm that focuses on technology investments, with participation from Balderton Capital, corporate-backed Project A Ventures, and Creandum.
Carl Waldekranz, chief executive and co-founder of Tictail, said “The team at Thrive shares our vision for Tictail and has a strong product focus, which is key for us as we improve the consumer experience by providing merchants with the tools necessary to connect with consumers in a way that wasn’t possible before. This year will be a game changer. I feel strongly that our internal motto, “We’re just getting started,” is more true now than ever before.”
Will Gaybrick, partner at Thrive Capital, said, “Tictail has a beautiful product that merchants love, and a vibrant community that is growing faster by the day. We’re excited to see this talented team apply its strengths in design and engineering to develop consumer products that facilitate social commerce and merchant discovery.”