AMP Raises $18.5 Million for Interconnected Platform for eCommerce Merchants

AMP has raised $18.5 million in a Series A funding round to expand its interconnected platform for eCommerce merchants.

The idea for AMP came about when founders Cameron Priest and Patrick Barnes realized that many brands and merchants struggled to manage multiple apps required to run their eCommerce stores, the company said in a Monday (Sept. 11) press release.

To simplify the eCommerce experience, AMP created a platform of interconnected solutions to optimize sales, manage shipping and track analytics, according to the release. The company has already achieved significant growth, acquiring 20,000 customers in 18 months.

“AMP was born from the desire to keep things simple,” Priest said in the release.

To enhance its end-to-end platform, AMP has made three strategic acquisitions: checkout and conversion startup AppHQ, shipping solution Addition and analytics tool Lifetimely, the release said. These acquisitions will enable AMP to provide a comprehensive suite of services that streamline operations and maximize sales for eCommerce merchants.

“This investment will enable us to expand our team and accelerate our product development through a mix of building and buying best-in-class software to empower eCommerce entrepreneurs to start, grow and scale their business,” Barnes said in the release.

The funding round included participation from Singapore-based investors Jungle Ventures and Openspace Ventures, according to the press release.

David Gowdey, managing partner at Jungle Ventures, said in the release that small businesses in the eCommerce sector require seamless solutions to increase efficiency and sales. AMP aims to address these needs and empower merchants globally to improve customer experience and operational efficiency.

Shane Chesson, founding partner at Openspace, added that AMP is working to become “the leading software ecosystem for the eCommerce sector.”

PYMNTS Intelligence has found that 56% of online retail shoppers and 58% of online grocery shoppers increased the amount of digital shopping they did in the past 12 months.

As customers increase online shopping, merchants’ ability to deliver a satisfying online shopping experience becomes more important, according to “Satisfaction in the Age of eCommerce: How Trust Helps Online Merchants Build Customer Loyalty,” a PYMNTS and Riskified collaboration.

The report added that, for online merchants, offering ease and convenience and focusing on security will be critical to keeping even longstanding digital customers engaged for years to come.