Corevist Closes $2.8M In Series A Funding With Jurassic Capi
RALEIGH, N.C., March 6, 2020 /PRNewswire/ -- Corevist, Inc., leading provider of eCommerce integrated to SAP ERP, is proud to announce it has closed an initial round of $2.8M in Series A funding with Durham-based Jurassic Capital. The deal will help accelerate Corevist's growth, which has averaged 30% per year over 12 years with no outside funding.
With a focus on B2B software companies, ideally SaaS (software as a service), Jurassic Capital is a leading investor in technology startups in the Raleigh, NC area. The Jurassic team describe themselves as "operators first," and they have gained deep experience at B2B software companies like Bronto Software, NetSuite, Oracle, Red Hat, and Bandwidth.
As a leading technology company both in the Raleigh area, and in the global B2B eCommerce market, Corevist was an ideal fit for Jurassic. Corevist's mission is to make B2B eCommerce accessible to every manufacturer whose business runs on SAP ERP. By offering prebuilt, configurable SAP ERP integration as part of their cloud-based eCommerce platform, Corevist takes out the largest risk which SAP manufacturers face when launching B2B eCommerce. This IT architecture ensures that customers get mission-critical data like pricing and inventory availability in the live eCommerce store.
A four-time Inc. 5000 winner, Corevist has established deep alignment with its target market, as evidenced by the company's average annual growth. The company's cloud-based eCommerce solution, Corevist Commerce, processes over $1 billion in annual transactions on behalf of global manufacturers.
"Today, we're excited to announce our investment of $2.8M into Corevist, a Raleigh-based software company that develops and sells a B2B e-commerce platform to manufacturers worldwide," said Kevin Mosley, Partner at Jurassic Capital. "We invested in Corevist because we are impressed with Sam Bayer, the founder/CEO, and his leadership team and their track record in growing bootstrapped, consistently and profitably, over many years. We are also excited because of the potential of B2B e-commerce and the ability to leverage our expertise with Corevist in this space. Our focus at Jurassic is to invest in regional B2B software companies in order to help scale them to the next level. Corevist fits the bill perfectly."
"I'm thrilled to finalize our relationship with Jurassic Capital," said Dr. Sam Bayer, Corevist Founder and CEO. "Corevist's stellar growth over the last 12 years truly validates our position within the market, and I'm confident we've found the right partners to help us move into the next stage of our journey. I can't wait to see what the next chapter will bring for Corevist."
About Corevist, Inc.
Corevist offers SAP-integrated eCommerce solutions for manufacturers in all verticals. Corevist Commerce brings the B2C experience to B2B channels, transforming manufacturers' interaction with dealers and distributors. Corevist is a global company with clients in the US, UK, EU, Canada, Africa, and Asia. For more information, call (919) 424-2120 or visit www.corevist.com.
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SOURCE Corevist, Inc.