Neeeewww Stitch Lab! (Photo credit: average_jane_crafter)
Stitch Labs, a start-up that helps small businesses manage inventory, orders, and shipping, has secured $1 million in seed funding from True Ventures, according to VentureBeat.
Co-founder and chief executive Brandon Levey began working on Stitch Labs in 2011 when he was running his own design and manufacturing company. He was frustrated with the lack of software available to small businesses to manage inventory and sales.
Co-founder Jake Gasaway told VentureBeat in an interview that Stitch Labs really took off after it integrated with Etsy and Shopify. Many of the millions of Etsy users began making their way over to Stitch Labs and became paying customers, which helped the company gain attention from venture capital firms. Stitch Labs attributes its seed funding to showing VCs that they could build a business that generates revenue and could convert people into paying customers.
Stitch Labs manages contacts, inventory, sales, invoicing, and shipping for on-line businesses. It displays all relevant information in a dashboard, so business owners can manage orders, payment, and many other aspects of their operations. The company also integrates with the shopping cart platforms from Etsy and Shopify and can manage data from several different business, both on-line and off, in one dashboard. Pricing starts at $12 per month for single-person businesses, up to a monthly fee of $80 for larger companies.
Stitch Labs will use the funding for product development and customer growth. The company is also hiring new employees. Stitch was founded in 2011 and is based in San Francisco, California. This is the first round of funding the company has received.
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