Retailtech startup Cortina raises $6m seed round to accelerate growth
Cortina, a revolutionary software solution that gives any retailer, from big box to mom-and-pop, the power to become a player in the fast-evolving marketplace revolution, announced it has closed $6 million in seed money, with Point72 Ventures leading. AlleyCorp, Primary VC, Blue Watch, and Lorimer also contributed.
Keith George, Founder and CEO, Cortina: "The big advantage of Cortina is that it is built by retailers, for retailers. The Cortina team has a combined 50 years' experience in retail, and we applied that experience and expertise to creating Cortina so that it is plug-and-play. Once a retailer signs on, they can start building a marketplace, which means they can rapidly expand their inventory, and grow sales revenue, but slash costs related to unsold inventory and logistics."
Cortina is well-positioned to capitalize on changes that have upended retail in the past two years – changes that market-watchers forecast will quickly accelerate. As more customers look for convenient online shopping experiences that provide deep options in choice, sellers will have to adopt the marketplace model.
Tripp Shriner, Partner, Point72 Ventures: "All merchants, whether direct-to-consumer brands or celebrity and influencer curators, want to serve their consumers by providing a curated and seamless experience. Cortina helps ecommerce providers meet that goal by eliminating the technological and logistical complexity of selling multiple brand products on one storefront. By providing consumers with a wider set of options in their shopping experience, merchants are better able to attract, convert, and retain customers."
Kevin Ryan, Founder and CEO, AlleyCorp: "We are excited about Cortina's ability to empower every e-Commerce entrepreneur to create their own version of a digital marketplace within hours rather than having to go through the process of hiring a whole engineering team to build in-house."
Brooke Cundiff, Co-founder, Cortina: "Our insights as retailers give us a huge advantage. We know what retailers need. Our ease of use has quickly attracted clients across a range of businesses, from fashion / apparel brands to D2C consumer goods companies, to editorial platforms as well as content creators."
George says much of the investment will go towards growing the product and engineering teams. "This guarantees we can serve our fast-expanding client base."