With its new funding led by investments from Redpoint Ventures, First Round Capital and Company Ventures, Anvyl has set its sights on direct-to-consumer (D2C) brands seeking to rectify challenges from managing businesses solely online. This investment, Anvyl hopes, will help D2C brands better manage company inventory and shipment of products to their suppliers.
In addition to large venture capital firms, the funding round also included investments by Dan Rose of Facebook, Ben Kaufman of Quirky and Camp, and Kevin Ryan of MongoDB and DoubleClick.
Anvyl Co-Founder Rodney Manzo sought an alternative to what he calls “boots on the ground” production oversight, according to the report. He said none of the brands currently using the platform have traveled to a factory to oversee day-to-day production of their products.
He said Anvyl works with brands at the beginning of the supply chain — in factories, by setting up cameras and sensors that allow their brands to see production happen digitally. The platform allows its brands to manage suppliers, find new suppliers, view various cost breakdowns and accept quotes.
In a blog post announcing the new funding, Anvyl said, “We now find ourselves in a place where we can see and experience problems first hand, identify ways to do it easier and better, and have the resources available to quickly conceptualize solutions and begin hands-on testing and building with our partners.”
With this new investment, Anvyl has raised a total of $11.8 million in funding. The company said it will put new funding toward internal company growth and new hires in the engineering and marketing departments.
Aside from its new funding, Anvyl has kept numbers related to pricing well under wraps, saying only that the firm takes a “tiny percentage” from brands using the platform and that a monthly fee is also charged.