Philly-Based Tech Startup Raises More Than $27 Million In New Round Of Funding
PHILADELPHIA (CBS) -- A Philadelphia-based company called Curalate has seen explosive growth on the e-commerce scene in only four years. With hundreds of clients and offices in New York and Seattle, it's now getting lots of investor attention.
Curalate has secured $27.5 million in a new round of venture funding bringing its total to $40 million.
CEO Apu Gupta says Curalate wants to reshape the global $1.6 trillion dollar e-commerce market.
"We're using it to aggressively hire across a number of disciplines, build new kinds of products that enable us to innovate faster than our completions, and use it to build out a deeper partner ecosystem around the country so that our brands can do more with the imagery they create," said Gupta.
Its technology allows brands to sell apparel and products that customers may see, for example, in an Instagram photo or Pinterest post and provides detailed analytics to help determine what content is driving more engagement.
"The web is becoming an increasingly visual place and that's going to change how customers buy and how customers discover products. What Curalate is doing is building solutions that enable brands to capture today's visual consumer," said Gupta.
Gupta calls this round of funding, one of the biggest venture capital investments in Philadelphia, a huge endorsement for the Philly tech scene.