Merchant data onboarding and management just got even better.
We’re thrilled to announce Woflow’s $7.3M Series A funding round, marking a big milestone for the company.
The latest funding round will be used to accelerate our global growth plans, along with continued product development and the launch of a new retail data API offering. Our passion for helping seamlessly onboard merchants to the digital economy are only second to those of our customers, who are building the platforms and tools that see businesses thrive.
Our latest round was co-led by existing investor’s Base10 Partners as well as welcoming co-lead Construct Capital to the table. Existing investor Craft Ventures participated in the round as well as a great group of angel investors.
We’re excited that Rexhi Dollaku, Partner at Base10 Partners, will be joining Jordan and I on the board. Rexhi was instrumental in Base10’s earlier seed investment, and has been a valued thought partner over the last year. We’re excited that he shares our view on the inevitable with the digital shift, saying: “Woflow has made tremendous progress over the last year and we are proud to continue backing their vision to build the critical infrastructure for merchants of all kinds to participate in the digital economy.”
Rachel Holt, Co-Founder and General Partner at Construct Capital is joining the board as an Observer. Prior to founding Construct, Rachel was a member of the Executive Leadership team at Uber, and saw the inside complexities of global marketplaces first hand. We’re excited about the energy and insights her team brings to the table!
Investing in our global team
At the heart of our business is an extraordinary team of Woflowers working tirelessly to help our customers, and their merchant partners, be successful.
In 2022 we’re doubling down on the team. We’re hiring for roles in San Francisco, remotely in the US as well as globally, to keep up with our solid customer demand. Our customers think and operate globally, and we’re proud to support them with a global solution. We have teams in North America, Latin America, Europe, Africa and Asia. We’ll be adding teammates to new territories over the coming months to continue supporting further use cases.
We’re building a global community of like minded people who want the opportunity to do their best work, impacting a huge market that is the digital transformation. If you’d like to be a part of that, please check out our roles on our Careers page to learn more.
Facilitating customer growth
Our first product was focused on helping platforms and marketplaces with merchant data onboarding. Bringing online a restaurant partner was typically a time-consuming, and oftentimes painful process. We’re proud to use our experience to launch the Merchant Data Platform last year, to make this as pain free and frictionless as possible.
We’ve been blown away by the demand for the product, quickly scaling to now cover tens of thousands of merchants a month. We’ve helped onboard over 800,000 merchants to date. We’ve been expanding the use case to support additional languages, launching a host of new ones in the year including French, Portuguese and Japanese.
We’ve rolled out the platform to support new customers over the last year, from publicly-listed international food delivery companies, like Deliveroo, to high growth startups like Popmenu. We’re allowing these companies to focus on what’s core to their business, by building reliable data infrastructure that automates away the painful parts of bridging the offline and online worlds.
We recently got a chance to speak with Deliveroo on how they’ve experienced working with us. You can check out their case study here!
Developing what’s under the hood
To our customers, we provide a simple API to request and receive data. But behind the curtain is where the real magic happens. Over the last year we’ve developed a sophisticated blend of machine learning, web crawling, and a robust platform where thousands of people train and complete tasks to achieve our customers' data needs.
We’ve taken a technology-first approach to breaking down these intricate processes that have historically been attempted in a people-first manner. Applying these layers of technology we’re able to let computers do what they’re good at, and let our workforce focus on the rest. This also unlocks a level of quality and consistency at scale that can only be achieved through technology.
Launching new products
Part of the funding round will be used to continue to expand on our existing products. We’re focused on the next challenge, after onboarding a merchant, to keeping their data up-to-date in an automated fashion. You’ll be hearing some exciting news on this front soon.
We’re also expanding the use case from primarily restaurant-focused to helping a whole host of retail partners - from grocery stores, flower shops and even cannabis dispensaries. Our latest product (currently in beta), the retail data API, will provide universal, highly formatted, rich product data to help enable the rise in retailer eCommerce. The retail data API improves customer experience metrics like engagement rates, basket size, and search and discoverability with structured rich product data.
If you’re building a product that utilizes retail data, and want access to clean and rich SKU-level data then please reach out!
It’s still early
Woflow envisions a future where commerce is frictionless and effortless, whether online, on Main street, in a virtual game, or in AR. We’re building the rails that allows businesses who also see this vision onboard and connect the millions of merchants around the world.
To all our customers, partners, investors and supporters: thank you for joining us on this mission so far. We can’t wait to work with you all, as we continue this journey together, and build the seamless future of merchant data.
Our Series A fundraising announcement was covered in TechCrunch. Check out Christine Hall’s great write up here.
Click here to read more about the fundraising announcement in our Press Release.