Staytuned Digital, a software suite for e-commerce brands, has raised $34 million in new equity and debt to continue developing its suite of products.

Co-founder Serge Kassardjian described the company's goal as “the Salesforce suite for e-commerce stores.”

Kassardjian told TechCrunch that the company is focused on Shopify merchants and has acquired seven apps so far, working with more than 28,000 customers. He declined to disclose revenue growth, but did say the company was EBITDA positive in the fourth quarter. 
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The new investment includes $9 million in equity and $25 million in debt, with the option of taking up to $25 million more. To date, the company has raised $46.5 million in a combination of equity and debt. Investors in the new round include TenOneTen, Rembrandt VC, Hawke Ventures, DragonX, FJ Labs, Interlace, Riverpark Ventures, Comma Capital, Kotti Capital, Alumni Ventures Group, Jason Finger and a group of angel investors. Tacora Capital led the debt funding.

The company initially focused on video, but 11 months after starting, Kassardjian and co-founder Randy Jimenez realized the product didn’t work and did “a hard pivot.” Lauralynn Drury has since joined the founding team to help build the products and scale the strategy. 

The new funding will enable Staytuned to acquire more apps, hire additional engineers and scale faster. Kassardjian said that the company is aiming to have the largest hub of brands and merchants using the software, which will drive e-commerce in the future. 

 Sources: https://techcrunch.com/2023/04/06/staytuned-software-e-commerce/