Smartrr lands $10M In Series A Funding Led by Canvas Ventures
Smartrr, the most advanced subscription technology in the Shopify ecosystem, today announced it has raised US$10 million in a Series A funding round to accelerate its mission of turning one-time shoppers into world-class leaders. long-term brand enemies. The Series A round, led by Canvas Ventures with participation from seed round leaders Expa and Nyca, brings Smartrr’s total fundraising to $17 million.
With its latest investments, Smartrr will continue its mission of delivering subscription technology that serves as a long-term value engine for brands at every stage of their growth. With Smartrr’s comprehensive solution, Shopify brands can offer customized subscriptions, plans, loyalty programs, rewards, early access to new products, and discounts to delight customers. and maintain recurring revenue.
“After hundreds of market research interviews with Shopify brands, we uncovered that one of their most significant pain points was implementing seamless subscriptions. Beyond that, we realized there was an untapped opportunity in how brands engage with what is, in actuality, their most loyal customer base. Smartrr is challenging the traditional subscription offering and redefining what it means to be a subscriber of a brand,”
“We are excited about our product’s power to reinvigorate the e-commerce experience for brands’ loyal subscriber base. Amidst rising acquisition costs and potential economic uncertainty, our new and existing partners realize the value of recurring revenue and understand online brands will be searching for a solution that rewards customers for their loyalty and drives repeat purchases more than ever. That’s where we come in.”
Gabriella Tegen, Founder, and CEO of Smartrr.
“Canvas Ventures is thrilled to partner with the Smartrr team and lead their Series A. Shopify brands using Smartrr see impactful results, more than doubling their subscription revenue in their first 60 days on the platform. While Smartrr got its start in subscription management, we really see them as a leader in an emerging ‘post-purchase operating system’ for growing digital brands,”
“From our first meeting, we’ve been impressed with what Gabriella has built as well as the high-caliber team she has assembled.”
Harrison Lieberfarb, Principal at Canvas Ventures.
In just two years of its founding, Gabriella, 28, and the Smartrr team not only found the right product for a critical market but also grew to over 30 employees and continue to grow, listed stock on the Store. Shopify app has served hundreds of high-growth companies. brand. More recently, Gabriella and Smartrr have won several prestigious titles such as Forbes 30 under 30, The Information’s 50 Promising Startups and BuildIn’s best place to work in NYC and US.