DJUST, a Paris-based B2B eCommerce Software-as-a-Service (SaaS) platform, has successfully raised €12m in a Series A growth funding round. The funding round was led by New Enterprise Associates, Inc. (NEA), with additional support from Elaia Partners, which is an existing investor in DJUST. This funding round has offered a considerable financial boost to the company’s expansion plans.
The €12m Series A funding round has set a new investment record for DJUST. The significant amount of funding will enable the company to accelerate its business expansion into new international markets, including the UK and the US.
NEA, one of the world’s leading venture capital firms, led the funding round. The company has a portfolio of successful investments in technology-driven businesses, including AppDynamics, MongoDB, and Salesforce. The additional support from Elaia Partners, which also provided €4m in seed funding to DJUST in 2020, further solidifies the company’s strong investor backing.
DJUST’s Services and Target Market
DJUST has emerged as a leading player in the B2B e-commerce sector. The company has managed to carve a niche for itself by enabling professional buyers and sellers to experience frictionless buying, amplify productivity, and hasten growth. Unlike many other B2C-oriented platforms, such as Adobe Commerce, Salesforce Commerce, and Shopify, DJUST has tailored its offering to meet the unique demands of the B2B sector.
Planned Use of Funds
The funding raised from the Series A round is earmarked for several areas of DJUST’s business, including business expansion, product development, and human resources. The company plans to focus on expanding its reach into new markets across Europe, the UK, and the US. In doing so, it aims to increase its customer base and revenue streams while investing in core product development to enhance its service offering.
Furthermore, as part of its growth strategy, DJUST plans to double its employee count to support the expansion plans in various markets. Currently, the company has over 40 employees and has added 20 new members to its team in the past year.
DJUST’s Recent Growth and Success
Despite the challenging business environment of recent years, DJUST has seen significant growth and success. The company has more than doubled its annual recurring revenue over the past 12 months, with 15 new deals signed with leading distributors and manufacturers throughout Europe.
Vision for the future
Arnaud Rihiant, Founder and CEO of DJUST, shared his vision for the company, stating, “We want to free all businesses from the hassle of building, launching, and running B2B commerce.” He added that the funding round would allow the company to continue to develop and enhance its services, providing more value and benefits to its clients.
Previous funding round
Before its Series A funding, DJUST received a €4m seed investment from Elaia Partners in 2020. The seed funding enabled the company to accelerate the development and launch of its B2B e-commerce platform.
DJUST’s recent funding round, coupled with its doubling of annual recurring revenue and expansion plans, highlights the company’s position as a rising star in the B2B eCommerce market. The significant investment potentially sets up DJUST for greater success in the future, as it continues to provide tailored solutions that meet the unique demands of B2B commerce. The company’s vision of freeing businesses from the hassle of B2B commerce is certainly a compelling one, and it will be exciting to see how the company develops and expands in the coming years.