Ixtens Gets $4.6M to Grow Retailer Cloud Solutions
Ixtens, an SaaS provider for online retailers and media companies, has raised $4.6 million in funding, withGreycroft Partners and BV Capital leading the round. Retail consulting firm Marvin Traub Associates also participated in this round of funding.
Founded in 2004, Ixtens launched as an ecommerce solutions provider, making its way through the market with a series of specific tools that marry the online environment with emerging retail trends. From a cloud-computing perspective, Ixtens has provided key tools for recent merchant evolution, with access to multiple sales channels and syndicated channel partnerships.
“The biggest constraint for online retailers is inventory financing. We built Ixtens to solve this problem,” said Eugene Nikiforov, Ixtens Co-Founder and Chief Product Officer. “We’ve been at the forefront of ecommerce for years and have accumulated tremendous expertise in the sector. Our marketplace solution allows retailers to take their online sales capabilities to an entirely new level. And it provides a totally new way for online media companies to monetize their user base, by offering them their own branded Ixtens-powered marketplace.”
The streamlining of web-based merchant tools is a primary way in which Ixtens has simplified the online retailer process, which naturally spills into media markets and ad networks as well. Finding unified mechanisms for managing these overlapping aspects of a growing industry is a challenge for many startups, particularly those in the SMB range.
In related news, Akamai is providing streamlined cloud services for merchant credit card processing, teaming up with Visa’s CyberSource for the new client offering.
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