- David Spitz, Vice President of Operations, is responsible for global products, services, and finance operations.
- Michael Jones, Vice President of Business Development, Marketing and Strategic Partnerships, currently leads ChannelAdvisor’s global marketing, business development, corporate development and acquisition strategies. Jones will be expanding his role to include global sales and revenue responsibilities.
- Scott Alridge, Vice President and General Counsel, will be expanding his role to include human resources operations.
Thursday, September 04, 2008
ChannelAdvisor Secures $20 Million in Funding!
From the announcement:
ChannelAdvisor, the leading provider of e-commerce channel management solutions, today announced it has received an additional $20 million in funding to accelerate its growth. The funding round was led by New Enterprise Associates (NEA) with participation from current ChannelAdvisor investors Advanced Technology Ventures, Kodiak Venture Partners, eBay and Southern Capitol Ventures.
“ChannelAdvisor has grown rapidly over the last two years, both organically and via two material acquisitions, and has strengthened its leadership position in the e-commerce channel management space,” says Scot Wingo, CEO of ChannelAdvisor.
The company plans on implementing a restructuring plan that will both streamline operations and accelerate the company's path to profitability.
“With the additional financing and restructuring of the company, we are excited about accelerating our path to profitability. We have reached not only a revenue scale that very few Software-as-a-Service companies have achieved, but also outstanding growth and profitability metrics.”
The following ChannelAdvisor leaders will take on expanded roles as part of the restructuring:
I've known Scot and his team for many years and I want to congratulate them on another successful round of financing as they fine-tune their business in this challenging environment.
Just my 15%