Nebraska is not known for large funding announcements, but that did not hinder Spreetail from securing some serious funding.
The Lincoln-based e-commerce logistics and channel management company closed a $208 million funding round, which the company said “was supported by McCarthy Capital, internal management, and other investors.”
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Founded in 2006, the fresh round is the company’s first outside investment, per Crunchbase data.
Funding to so-called “Amazon aggregator startups” has dropped since the highs of 2020-21, when online retail was hitting new all-time levels due to pandemic lockdowns and consumers relying more on delivered goods.
“Many brands, aggregators, and agencies are heavily leveraged moving into 2023,” said CEO, Brett Thome in a release. “We have read the writing on the wall around post-pandemic shifts in consumer behavior combined with inflationary concerns and have repositioned Spreetail to increase our investment into our brand partnerships, our technology, and our organization this year.”
Spreetail said it reached $1 billion in revenue in 2021.
However, in October it was reported the company had laid off a “substantial number” of what was believed to be an 800-person workforce.
While Nebraska may not be a funding hot bed, the Spreetail round is not the state’s largest in the last 12 months.
Last July, Lincoln-based Monolith — which produces clean hydrogen, carbon black and ammonia — closed a $300 million round led by TPG Rise Climate and Decarbonization Partners, a partnership between BlackRock and Temasek.
Thanks to that round, VC-backed startups in the state saw $465 million in funding last year — more than the previous two years combined, per Crunchbase data.
Illustration: Dom Guzman
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