Marketplace ‘super seller’ and tech startup Boulevard has closed a £2.2 million seed investment from Fuel Ventures.
As the appetite for buying and selling through marketplaces explodes, Boulevard’s software is the bridge between independent sellers and manufacturers, and the world’s biggest marketplaces – from pricing strategies to handling the supply chain and fulfilment at scale.
Boulevard currently sells more than 150,000 products across nine product categories to consumers via multiple online channels, generating retail prices for over 15,000 product lines every 10 minutes, and is one of Amazon’s top third-party sellers.
The company is currently tracking £6m annual revenue and anticipates reaching the £100m revenue milestone in five years.
As online commerce has thrived in the last year, marketplaces like Amazon and OnBuy have seen seller numbers grow and revenues for sellers grow by 50%.
The competition for products is staggering and with eight million price changes a day on a single marketplace, manufacturers’ products can struggle to cut through themselves.
As a marketplace ‘superseller’, Boulevard says its uniqueness comes from its ability to do all the heavy lifting for brands wanting to be present on these global marketplaces.
“We started life as a single category eCommerce business that we quickly scaled through the power of our own tech, Eiger,” said founder and MD Dominic Portman.
“The lessons we learnt on how to sell online as an ecommerce business and opened up our expertise and tech to help others to do the same.
“Our tech, Eiger, ensures operational excellence for all aspects of online selling and the fulfilment of orders, and we’re using sophisticated algorithms to test product popularity, monitor stock levels and dynamically fulfil orders within competitive timeframes.
“We’re now planning on advancing the Eiger platform to enable us to break into new markets and become a leading, global online marketplace super seller.”