Handshake, a maker of wholesale buy applications for mobile, will goal new abroad markets following increasing a $14 million Sequence B. The spherical was led by Sozo Ventures and consists of returning traders Emergence Cash, SoftTech VC, BOLDstart Ventures, MHS Cash, Level 9, and Most important Enterprise Companions.
Started in 2010, the New York-based startup has now received a complete of $23.5 million in funding. Founder and chief executive officer Glen Coates tells TechCrunch that Sozo Ventures, which focuses on bringing U.S. providers to new nations, will assistance Handshake develop a strategy for expanding into Asia. It will also use its new cash to develop its engineering and merchandise groups and include additional features to Handshake’s platform. One precedence will be building Handshake additional customizable to in shape the requirements of unique clients.
Handshake differentiates from other wholesale buy applications (opponents incorporate Pepperi, NetSuite, and TradeGecko) by focusing on mobile to start with and striving to make its enterprise software package as quick to use as purchaser applications. Coates suggests that when he founded Handshake, very good technology for makers and distributors to sell to shoppers currently existed, but wholesale orders had been continue to managed utilizing out-of-date, cumbersome procedures.
“That aspect of the enterprise was functioning on terrible guide processes: pen and paper, fax, electronic mail, Excel, you name it. There had been fundamentally no very good technology solutions for B2B. There definitely wasn’t a terrific native mobile app for the Iphone or iPad, which experienced just occur out,” he suggests.
Handshake begun with an app for sales staff known as Handshake Rep, just before launching an e-commerce app known as Handshake Direct. The business promises it at the moment has one,000 clients, who utilised its software package to tackle one.two million orders value $two.5 billion past calendar year. Its customers incorporate Bugaboo, Roland Tunes, Silhouette, Starkey Hearing Systems, and Vega.