Associated tags: San Francisco Bay, CXO, Artificial intelligence, Silicon, AI, Sierra Ventures, Sale, Machine learning, Flip's Twisted World, Stock, Software as a service, Bloomberg Businessweek, Recommerce, Automation, Online shopping, Video game
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Video game PHOENIX, June 7, 2022 /PRNewswire/ -- Hammoq Inc., the company powering reCommerce sellers with artificial intelligence (AI) to run their business on autopilot, today announced that it has secured $24 million in equity plus debt financing. This latest financing round was led by Sierra Ventures, with participation from the company's pre-seed lead investor Origin Ventures and brings its total financing to date to $27 million.
Key Points:
- A glut of online retail returns and a flourishing market for sustainable fashion upcycling and vintage items has created an exploding reCommerce industry.
- "The reCommerce market is exploding, with the fashion resale market alone expected to reach $26 billion in 2022," said Sid Lunawat, CEOand Co-Founder of Hammoq.
- Hammoq, the company that is reimagining reCommerce, digitizes resale goods and automates online listings so customers can list and sell more.
- For resellers, liquidators, thrift and retail organizations, Hammoq enables the resale of returns, lost SKUs, overstocks and other pre-loved goods.
Hammoq solves an acute problem for eCommerce business owners: bloated administrative tasks taking their time and energy away from sourcing and selling.
Key Points:
- Hammoq solves an acute problem for eCommerce business owners: bloated administrative tasks taking their time and energy away from sourcing and selling.
- Hundreds of eCommerce resellers use Hammoq to list their products across marketplaces including Amazon, eBay, Poshmark, Facebook Marketplace, Goat, Mercari, StockX, and many more.
- By automating these kinds of repetitive administrative tasks, Hammoq saves its users an average of 20-30 hours per week while increasing their sales 4x on average.
- We have built Hammoq to automate those repetitive and time-consuming processes, ease the burden on eCommerce resellers, and ultimately help them sell more products.