Mangrove Capital Partners is a venture capital and private equity firm focused on early-stage, mid venture, startups, expansion stage, growth capital investments, buyouts, and emerging growth. Its mission is to help turn visions into realities by providing financing, thoughtful advice, relevant experience, and industry relationships to its portfolio companies.   Mangrove seeks to invest in internet and software businesses with a focus on online services, marketplaces, application service providers, multimedia services, communications, wireless, infrastructure, media, network, and services. The firm is also focused on peer-to-peer computing, gaming, e-commerce, security, mobile, mobile value-added services, network management, urban mobility, SaaS-based businesses, and the automotive industry. It primarily invests in greater Europe, including Russia, Benelux, Belgium, Luxembourg, Netherlands, France, Germany, Italy, Switzerland, and Spain, and Israel. It may also invest in United States, Canada, and India.   Mangrove Capital Partners was founded in 2000 and is based in Luxembourg, Luxembourg.

Mangrove Capital Partners

Bessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies. Their portfolio includes pinterest, shopify, twilio, yelp, linkedin, pagerduty, docusign, wix, fiverr, and toast, and has $19 billion of assets under management.

Bessemer Venture Partners

Benchmark invests in and works alongside entrepreneurs building startups into transformational companies. They focus on early-stage venture investing in mobile, marketplaces, social, and infrastructure and enterprise software. Founded in 1995, the firm has offices in Woodside and San Francisco, California.  The firm has been recognized for its commitment to open source and is noted for creating the first equal ownership and compensation structure for its partners. The six equal general partners who take board seats and a hands-on approach to every entrepreneur and company they back, with no junior investment staff. Current general partners are Matt Cohler, Peter Fenton, Bill Gurley, Mitch Lasky, Eric Vishria, and Scott Belsky. Benchmark has had 37 exits since beginning of 2011; 14 IPOs and 23 M&As representing a total market value of more than $60 billion. Benchmark’s current portfolio of early-stage venture investments includes private market leaders such as Uber, Snapchat, Tinder, Stitch Fix, Elastic and Cyanogen; recent IPOs and acquisitions such as Twitter, Instagram, Yelp, League of Legends, Jasper, OpenTable, New Relic, Hortonworks, GrubHub, Zendesk and Zillow; and franchise companies from Juniper to eBay to Red Hat.

Benchmark

Insight Partners is a global software investor that partners with growth-stage technology and software companies. Insight has a deep focus in Fintech, Cybersecurity, AI/ML, DevOps, and Healthcare sectors. Across their people and their portfolio, they encourage a culture around a core belief growth equals opportunity. As of December 31, 2022, the firm has over $75B in regulatory assets under management. Insight Partners has invested in more than 750 companies worldwide and has seen over 55 portfolio companies achieve an IPO.

Insight Partners

The DAG (Duff Ackerman & Goodrich) Ventures partnership began with investments in the cable TV, infrastructure, media, and wireless industries in the 1980's. The firm now invests in a variety of technology companies.

DAG Ventures

The tools that power remote work are define the next generation of enterprise software.

Remote Work Tools

<div>
  <p>
    Spike is an all-in-one productivity suite encompassing, email, notes, task management, and messaging. Users can accomplish tasks normally done on a series of different tools without ever leaving the Spike platform.
  </p>
</div>


Spike is the future of email. The Spike app transforms your inbox into a chat-like interface and brings all your messaging, collaboration, tasks, and video/audio calls into one place.  Instead of app-switching to check off a task or create a meeting agenda, Spike's powerful Inbox gives you all the tools you need in a single workflow. Making it extremely simple to get your work done, communicate with team members/clients, stay organized and stay productive.  Spike makes it easy to collaborate and manage—Email, to-do lists, tasks, Notes, Group Chats, docs, and way more -all from your inbox! Spike works on top of any existing email (O365, G suite, and IMAP) and is available on iOS, Android, MacOS, Windows & Web.  The company's goal is to bring all of the communications, emails, chats, calls, team collaborations, tasks, and voice notes to one place. The mission is to improve the world of productivity one email at a time.

Headquartered in Hong Kong, Oriente is the leading financial services and technology company committed to unlocking financial inclusion for underserved communities in emerging Asia.  Using cutting-edge technologies including, Artificial Intelligence, machine learning, and data science, Oriente is building solutions that provide real-time credit scoring, digital and O2O lending and other tailored financial services to millions in Southeast Asia’s fastest-growing economies.  The company has recently rolled out two app-based ventures, Cashalo (www.cashalo.com) in the Philippines and Finmas (www.finmas.co.id) in Indonesia, which are both continuing to see unprecedented growth in user base and transaction volumes since their respective launches. Oriente was founded in 2017 by former Skype co-founder and CSO, Geoffrey Prentice; former founding CTO and COO at LU.com, Hubert Tai (CEO); and founder of BlackPine Private Equity, Lawrence Chu. For more information, please visit www.oriente.com

An enhanced, non-intrusive way to engage with customers while simultaneously collecting valuable data to learn more about target audiences. Endless variations of content formats and gestures that blend seamlessly with any app or page, can be creatively leveraged by site and app owners, content creators and sellers to boost their business without compensating on UX.

Wix provides a platform for the development of cloud data services for millions of registered users worldwide. It specializes in web development and management that provides an easy-to-use powerful cloud-based platform of products through a freemium model. Its core products consist of three web editors: the Wix Editor, intended for users with basic technological skills, Wix ADI, intended for novice users and Wix Code, intended for more tech savvy users. It builds its web development technology based on HTML5 and offers HTML5 compatible capabilities, web design and layout tools, domain hosting, and other marketing and workflow management applications, and services. The geographic segments include North America, Europe, Latin America, and Asia as well as other regions.

<div><p>Wix operates a cloud-based, DIY website development and business application creation platform through a freemium model. The company has introduced a number of core products over the years, including Wix Editor, Wix ADI, Wix eCommerce, and Wix Code. Its platform also offers a range of website templates.&nbsp;</p></div>

Now anyone can become a software developer.

No-code Software

<div><p>Wix provides a platform for the development of cloud data services for millions of registered users worldwide. It specializes in web development and management that provides an easy-to-use powerful cloud-based platform of products through a freemium model. Its core products consist of three web editors: the Wix Editor, intended for users with basic technological skills, Wix ADI, intended for novice users and Wix Code, intended for more tech savvy users. It builds its web development technology based on HTML5 and offers HTML5 compatible capabilities, web design and layout tools, domain hosting, and other marketing and workflow management applications, and services. The geographic segments include North America, Europe, Latin America, and Asia as well as other regions.</p></div>

Marketplaces and related solutions for selling goods and services online

Ecommerce Platforms

<div>
  <p>
    Wix operates a cloud-based, DIY website development and business application creation platform through a freemium model. The company has introduced a number of core products over the years, including Wix Editor, Wix ADI, Wix eCommerce, and Wix Code. Its platform also offers a range of website templates.&nbsp;
  </p>
  <p>
    Wix has gained a competitive edge through its features, including web design advice, and from its freemium offering, for which users can get a &ldquo;.com&rdquo; domain name for free for one year. Websites created on the platform are customizable and can be edited for mobile and optimized for search. Wix benefited from increased demand for websites during the Covid-19 pandemic. One recent development is a distance learning initiative with the Philippine Department of Education.&nbsp;
  </p>
  <p>
    Wix launched its &ldquo;Branded App by Wix&rdquo; (Branded App) out of beta in August 2021, marking its entry to the no-code app building market. Using the new no-code app, business owners can build native mobile apps to complement their websites and domain names. The app set up integrates tools and features from the Wix sites, and the activity data from both the app and site can be synced with the Wix dashboard. In September 2022, Wix.com launched Wix Portfolio, a solution that provides a variety of customizable layouts for users to create online portfolios. The layouts are based on current visual trends and can be customized for different industries and professions to enable users to match their portfolio with the look of their brand. In February 2023, the company went on to
    <a href="https://sp-edge.com/updates/16251">
      <u> launch a search engine optimization (SEO) dashboard</u>
    </a>
    , which includes SEO tools, educational materials, and an integration with Google Search Console. The dashboard provides users with access to content from the Wix Education Hub that is curated based on site activity and user proficiency as well as insights on site performance on search results via Google.&nbsp;
  </p>
  <p>
    <a href="https://sp-edge.com/updates/20196">
      <u>In July 2023,</u>
    </a>
     Wix launched its &quot;AI Site Generator&rdquo; tool that enables users to describe and generate their desired website. The tool uses a combination of in-house AI and ChatGPT to create extensive websites that can include a homepage, inner pages, text, images, and even business-specific sections like events and bookings, depending on the user&rsquo;s requirement.
  </p>
  <p>
    In May 2021, Wix acquired Rise.ai, a gift card and customer re-engagement solution for online brands. Through the acquisition, merchants on the &ldquo;Wix eCommerce&rdquo; platform in all supported countries and currencies can embed Rise.ai&rsquo;s customer re-engagement offerings to their ecommerce stores including gift cards, loyalty programs, rewards, and referrals.
  </p>
  <p>
    Furthermore, it acquired Modalyst, a marketplace and dropshipping platform in June 2021. Through the acquisition, Wix merchants can access a vast supplier marketplace comprising suppliers, manufacturers, and wholesalers, which can be synced directly to their stores. Merchants can access name brands, trending items, and independent labels (white-label products) through the marketplace. Wix claimed that, on average, stores can increase average order value (AOV) by 40% and revenue by 79%, within the first four months, by adding dropshipping products.&nbsp;
  </p>
  <p>
    <b>Key customers and partnerships&nbsp;</b>
  </p>
  <p>
    In March 2022, Wix 
    <a href="https://sp-edge.com/updates/9479?industryIds=14">
      <u>partnered with DoorDash Drive</u>
    </a>
    , DoorDash's white-label delivery solutions platform, to provide Wix Restaurants&nbsp; users access to DoorDash's delivery fleet. In March 2023, the company expanded its partnership with Meta to include new integrations to WhatsApp, Instagram, and Messenger. These integrations enable users to connect business accounts on these platforms to receive and reply to messages directly from the Wix dashboard. Moreover, in April, the company went on to launch an integration with Square, a merchant services and POS (point-of-sale system) provider, to enable restaurant owners to sync their &ldquo;Wix Restaurants&rdquo; site with their Square account. This enabled merchants to take online orders directly from the Wix platform.
  </p>
  <p>
    <b>Funding and financials</b>
  </p>
  <p>
    In November 2013, Wix had an IPO on Nasdaq and raised USD 127 million. In 2022, the company generated USD 1.39 billion in revenue and recorded an operating loss of USD 285.4 million. It reported 243 million registered users and 6.1 million premium subscriptions in December 2022. Notably, the company generates a considerable share of revenue (44%) outside North America. 
  </p>
  <p>
  </p>
</div>


<div>
  <p>
    Index offers a no-code platform for enterprises to build dashboards for internal use to obtain insights on business metrics, investor updates and operation overviews, among others. As of June 2021, the product remains at beta, with a limited early preview. The platform provides prebuilt templates, and also has tools for users to build their own dashboards.  
  </p>
  <p>
  </p>
  <p>
    The dashboard can be integrated with multiple apps including Hubspot ((customer relationship management data), Stripe (payment data), and Postgres and MongoDB (databases), slack (remote working) and Google Sheets (spreadsheets), among others. 
  </p>
  <p>
  </p>
  <p>
    The company raised USD 2.6 million in Seed funding in October 2020. It intends to invest the funds in hiring two engineers (in addition to the two founders) and continuing to refine and develop the product. The founders aim to reach USD 1 million in annual recurring revenue (ARR) and expand their product distribution. 
  </p>
</div>


Index

<div>
  <p>
    Pico offers an audience management tool for media enterprises (newsrooms, trade publications, fan clubs, and others) which allows users to improve CRM. It provides a no-code platform to implement paywalls, checkouts, memberships payments, and analytics, among other functions. The tool is built for small and medium enterprises (SMEs) to convert users from anonymous readers to paying customers with the goal of improving retention.
  </p>
  <p>
  </p>
  <p>
    The company raised USD 4.5 million in Seed funding in May 2019, which it intended to invest in improving its analytics and revenue tools. 
  </p>
</div>


Pico

<div>
  <p>
    Tonkean, based in Israel, is a no-code business operations platform mainly designed for business managers. The startup enables managers to consolidate data from business tools across the company to one dashboard. Tonkean connects with more than 1,000 business data sources, from customer relationship management (CRM) and ticketing platforms, to email, and Slack
  </p>
  <p>
    Tonkean uses visual tools such as drag-and-drop workflow options to design workflows on the dashboard and streamlines repetitive tasks to Tonkean&rsquo;s bots. Users also have an option to purchase templates created by other users. As of June 2021, its customers included Grubhub, Crypto.com, and EVERSANA.&nbsp;
  </p>
  <p>
    In August 2023, Tonkean&nbsp; launched an AI-driven intake system for legal teams. This feature, integrated into Tonkean's LegalWorks solution, offers a drag-and-drop interface for requesters to initiate and track legal processes via real-time data enrichment.
  </p>
  <p>
    <b>Funding and financials</b>
  </p>
  <p>
    Tonkean raised USD 50 million in a Series B funding round in June 2021, led by Accel, and noted that its valuation had increased 4x since its last round in April 2020, although it did not disclose the value. The company had plans to primarily invest the funds in expanding its engineering and go-to-market teams in Israel and the US, respectively. Tonkean had plans to increase its workforce to 100 employees within 2021 (from 60 employees). 
  </p>
  <p>
  </p>
</div>


Tonkean

<div>
  <p>
    Dorian offers an open, no-code platform for fiction writers and other story tellers to create interactive games. The platform allows multiple writers to collaborate on a story in real-time. Additionally, Dorian offers a live streaming option for users to livestream themselves playing their own story or other’s stories to generate interest and increase engagement. 
  </p>
  <p>
    As of August 2020, Dorian was invite-only and launched  to more users in late 2020. Analysis of early tests with around 50,000 players and writers concluded that the platform allowed users to improve monetization by 70%. 
  </p>
  <p>
    In March 2022, Dorian 
    <a href="https://sp-edge.com/updates/9209">
      <u>raised USD 14 million in Series A funding</u>
    </a>
     led by Raine Group to grow the company’s employee base and license more intellectual property inorder to host more in-app events. 
  </p>
</div>


Dorian

<div>
  <p>
    Stencyl is a no-code game creation tool. It operates Stencyl.com, a hub for publishing Stencyl-created web games. Stencyl also operates an open marketplace for sharing assets and building blocks for creating new games. 
  </p>
  <p>
    As of September 2020, over 12,000 games were published to the web and mobile devices with Stencyl, and the Stencyl developer community had over 120,000 registered developers. 
  </p>
  <p>
    Apps created on Stencyl have reached top slots in the Apple App Store and Google Play, and its most successful web games have been sponsored by major publishers including ArmorGames, Kongregate, and Newgrounds.
  </p>
</div>


Stencyl

Offers solutions for building internal applications and automations for enterprises

Many solutions enable users to leverage AI/ML for predictive analytics

Offers solutions for building enterprise-specific applications and automations

Some solutions leverage GenAI to enable users to build application and website templates without coding

Tools that allow users to build websites, ranging from blogs to e-commerce sites, in a visual environment without the need for coding. Often has no-code tools to integrate with other online tools, such as payment gateways.

<div>
  <p>
    Wix provides a platform for the development of cloud data services for millions of registered users worldwide. It specializes in web development and management that provides an easy-to-use powerful cloud-based platform of products through a freemium model. Its core products consist of three web editors: the Wix Editor, intended for users with basic technological skills, Wix ADI, intended for novice users and Wix Code, intended for more tech savvy users. It builds its web development technology based on HTML5 and offers HTML5 compatible capabilities, web design and layout tools, domain hosting, and other marketing and workflow management applications, and services. The geographic segments include North America, Europe, Latin America, and Asia as well as other regions.
  </p>
</div>


<div>
  <p>
    Ecommerce shopping platform Fancy provides a space for shoppers to discover high-quality brands and high-end products while assisting small businesses gain a wider customer reach. The platform also caters to conscious consumers by offering support for women-owned businesses and businesses that aim to use environmentally friendly approaches. Fancy offers customers a selection from sectors such as lifestyle, beauty, women, men, home, gifts, and kids and baby. The platform offered a new Storefront feature to merchants that would enable them to create their own shops. Its merchant database includes brands such as Gucci, Yves Saint Laurent, Alexander McQueen, and Bottega Veneta.
  </p>
</div>


Fancy

<div>
  <p>
    Vestiaire Collective is a social commerce platform that enables people to buy and sell luxury, pre-owned fashion products. It curates and connects the desirable wardrobes and provides a trusted and sustainable new way of buying and selling pre-loved items. The company is focused on transforming the fashion industry for a more sustainable future by promoting the circular fashion movement as an alternative to overproduction and overconsumption and the wasteful practices of the fashion industry. It provides its &lsquo;fashion activist&rsquo; community with inspiration, tools, and features to lead the change as they sell and buy unique pre-loved pieces from each other's wardrobes. The platform is unique thanks to its highly engaged activist community and its rare, desirable inventory of 3 million items that includes 140,000 new listings every week. It has over 7.5 million fashion savvy members in 50 countries worldwide. Every week, over 30,000 new items are submitted by its community of sellers, enabling buyers to access over 3,500 coveted and must-have fashion pieces a day. Vestiaire Collective is based in Paris, Ile-de-France with offices in London, New York, Milan, Berlin, and Hong Kong and was founded in 2009 by Alexandre Cognard, Christian Jorge, Fanny Moizant, Henrique Fernandes, Sebastien Fabre, and Sophie Hersan.
  </p>
</div>


Vestiaire Collective

<div>
  <p>
    Trendyol is a tech company that provides an e-commerce experience to its customers and vendors. It aims to serve customers to buy what they want, when they want with the best experience driven by technology. 
  </p>
  <p>
    Founded in 2010, Trendyol is the largest internet employer in Turkey with a team of ca. 2000 people. In 2018, the company announced an investment and strategic partnership with Alibaba Group. Alibaba's investment into Trendyol is the largest internet sector investment in Turkey to date.
  </p>
</div>


Trendyol

<div>
  <p>
    SidelineSwap is an online marketplace for sports equipment. The company also works with retailers and brands in sports to power circular shopping experiences through its trade-in program and marketplace technology.
  </p>
</div>


SidelineSwap

<div>
  <p>
    OnBuy is an online marketplace that offers multi-category products. Its marketplace offers competitive fees for its sellers and helps to list all the products in its portal that enable users to purchase products without hassle. The company was founded in 2016 and is headquartered in Poole, Dorset.
  </p>
</div>


OnBuy

Ecommerce website solutions provide services to build customized platforms/experiences for ecommerce

Some companies in the "ecommerce website solutions" segment provide B2B SaaS solutions

Ecommerce solutions providers that offer software for customizable ecommerce and other websites or specific modules embedded in websites such as digital experience intelligence and ecommerce management support (e.g., Shopify, CommerceIQ).

Wix

Recent Updates

Wix partners with Stripe to launch Tap to Pay on Android in US

Wix stock rises as Q2 earnings beat estimates

New tool from Wix creates entire websites from prompts

Wix stock rises after beating Q1 earnings estimates

Wix stock rallies after Q4 2022 earnings beats consensus estimates

Wix launches a search engine optimization (SEO) dashboard

Company Brief

Funding

Investors

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