8fig Team (Facebook pic)
8fig, an Israeli startup that offers a platform for companies to grow their online sales, raised $140 million in a Series B round of funding led by Koch Disruptive Technologies (KDT). The funding was split between $40 million in equity and $100 million in debt from Silicon Valley Bank under its new ownership. 8fig has now raised $196.5 million to date.
Founded in 2020 by CEO Yaron Shapira, CTO Assaf Dagan and CRO Roei Yellin., 8fig’s team consists of veteran e-Comm, finance, and supply chain experts in Los Angeles, California, Austin, Texas and Tel Aviv, Israel. The company says that they are committed to our mission of getting 10,000 sellers to 8-figure revenue by 2025.
The company offers what it calls led an 8fig Growth Plan. The company asserts that their software gives clients access to powerful planning tools and provides them with timely cash injections according to the schedule which a user dictates. “This means more inventory for your store and more money in your bank account. And you only pay us back once your bottom line is growing too,” says 8fig.
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“During this period of economic uncertainty, ecommerce businesses are struggling to reach their full potential,” said Yaron Shapira, cofounder and CEO of 8fig. “The global macroeconomic challenges we are experiencing make it difficult for ecommerce business owners to access the resources they need to succeed. 8fig is providing these online sellers with the financial support and tools necessary to thrive in any economic climate. The latest funding round has proven that the market has great confidence in 8fig and the important role 8fig continues to play in the ongoing growth of ecommerce.”
The 8fig Growth Plan uses a supply chain planning tool the company calls Lines Lab. For each product a business wants to sell, they create “Lines” based on their sales objectives. “We’ll review your Lines and put up as much as 95% of the capital you need, setting up timely cash infusions for every step in your supply chain: deposits, balances, logistics, marketing, and more,” promises 8Fig.
