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Posted on March 2, 2018 by staff

Newcastle’s Moltin raises $8m

A back-end eCommerce firm with offices in Newcastle has secured $8m in funding.

Moltin’s API product allows retailers to add shopping baskets and other features with just a few lines of code, boosting their conversion rates.

It raised $2m in a previous round. This Series A round was led by Underscore VC with existing investors Connect Ventures and Frontline Ventures.

The company has also announced that Jamus Driscoll, who has a 20-year track record of taking high-performing start-ups to market, has joined as CEO.

Driscoll played an integral role in the initial public offering of his previous company Demandware in 2012 then its $2.8 billion acquisition by Salesforce in 2016.

Prior to Demandware, he held a variety of leadership roles at Oracle, ProfitLogic and Ascential Software.

“The future of commerce is where brand inspiration and consumer transactions meet,” Driscoll said.

“Moltin has cracked the code on a true, API-first solution that allows brand owners to dream of new experiences, and enables developers to quickly build them and easily embed them into any channel.”

Driscoll joins Moltin co-founders Adam Sturrock, Chris Roach and Jamie Holdroyd.

Moltin has a rapidly growing community of more than 17,000 developers and is used to power some of the most distinctive commerce experiences in the retail industry.

It claims its APIs connect all the components of a commerce system and enable retailers to deliver ‘holistic’ experiences to consumers wherever they interact with the brand, including interactive digital displays, social media, smart televisions or video games.