Stockagile, an omnichannel management software designed to optimize and streamline inventory and sales management for SMEs, has raised $2.5 million (€2.5 million) in fresh funding led by Pan-European venture capital firm, Nauta Capital.
Other backers include 4Founders Capital, Angels, Juan Roig’s investment firm part of Marina de Empresas, and Zone2Boost. The announcement comes a little over a year after the startup closed a €400,000 funding round led by 4Founders Capital, Itnig, and Angels.
The ongoing post-pandemic e-commerce surge has led to the need for small and medium-sized brands, wholesalers, retailers, and chain shops to digitize their processes or sell online with their own websites or on other marketplaces.
Considering that only 20% of retail sales are online and that in the next few decades they will move to a 50/50 split, this is a much-needed technology for SMEs. The new round will help StockAgile to continue to expand its customer base by entering new retail verticals and geographical markets.
The new fund will enable the five-year-old startup to position itself as a leader in the retail industry. Stockagile will also use part of the funding proceeds to enhance its platform’s offering and customer sales, as well as launch a new sales and marketing strategy.
Stockagile was founded in 2017 by two brothers, Miquel and Joan Subirats. Engineers by profession, the duo quickly identified the lack of digitalization within SMEs in the retail sector. With the aim to support retailers in their end-to-end supply chain, the brothers launched Stockagile, a Software as a Service (SaaS) that connects the bricks and mortar and online operations by synchronizing catalogs, stock availability, and orders in real-time.
Stockagile customers include small and medium businesses that sell physical products: brands, wholesalers, businesses, retail chains, e-commerce stores, or digital brands that need to digitalise their processes or need to centralize their online, in-store, and marketplace sales.
In a statement, Miquel Subirats, co-founder and CEO of Stockagile, said: “The future of retail lies in agile ways of working, optimization, and automation. SMEs need to sell as much as possible with limited resources in order to survive; they can only achieve this through digitalization. Stockagile digitalizes processes and connects the different sales channels using the latest technology to help retailers earn more. We aim to reach a point where many of the retail processes are automated – from deciding price points to placing orders with suppliers.”
Jordi Viñas, Barcelona-based Nauta Capital Partner, adds: “According to market research, it is expected that by 2040 in-store and online sales volumes will be similar, nowadays the split is closer to 20/80 respectively. Companies, such as Stockagile, that connect the offline and online worlds within the retail industry have experienced a boom following the pandemic and we believe this trend will continue, making them a vital part of retail’s future.”
Marc Castilblanco, Principal at 4Founders Capital, highlights “the rapid growth rate that retail technology that helps digitalize and improve inventory management has had. After a year as investors, we pushed another round of funding given the high potential of the project and because we believe that Miquel and Joan can make Stockagile the go-to-solution in inventory management for the retail industry.”
In 2021, Stockagile was selected to be part of Lanzadera, Juan Roig’s start-up incubator also part of Marina de Empresas. Shortly thereafter, Angels decided to participate in its first funding round and has once again invested in the company showcasing its confidence in the cloud-based platform.
Pepe Peris, Managing Director at Angels, adds: “During our time as partners, Angels has had the opportunity to see first-hand Miquel’s leadership, attracting first-class talent and investors like Nauta Capital. This has led to a growth in their customer base; customers have benefited from the value add and efficiencies that Stockagile offers. We continue to support them on this journey knowing that the latest round will enable their offering to reach new heights.”