Hive, a leading operations platform for independent brands in Europe, has successfully raised a €28.2 million Series A extension at an increased valuation. This funding round was preempted by Earlybird, who is doubling down together with Tiger Global, Picus Capital, alfa8, and other existing investors. This round includes €10 million in venture debt from Atempo Growth.
Founded in 2020, Hive seamlessly combines powerful technology with a network of leading operations providers, saving commerce brands on average 17% on costs and generating up to 24% revenue uplift. The company’s platform covers the entire operations value chain, including fulfillment, delivery, and post-purchase experience. Key features include multi-channel inventory and order management, intelligent carrier selection, personalization tools, and its consumer-facing tracking and returns solution.
Among Hive’s strengths are its proprietary Warehouse Management System (WMS) and Transport Management System (TMS); these allow Hive to achieve superior operational quality and offer a richer feature set. Over the past year, Hive also launched new standout features, such as Delivery Promise, which lets brands increase their conversion rate up to 30% by giving consumers an accurate estimated delivery date in their online shop.
With this new funding, Hive plans to further accelerate growth and product development, targeting profitability next year. Oskar Ziegler, Co-Founder & CEO, commented: “We are seeing enormous potential to make commerce operations better for everyone, including brands, consumers, and our operational partners. This investment is a strong vote of confidence in our progress so far and the opportunity ahead of us. With this additional funding, we’re looking forward to creating more impact for even more brands across Europe.”
Over the last two years, Hive has expanded its presence to Germany, France, Italy, Spain, and the UK – establishing itself as the European leader after growing 3.2x over the last year and earning a Net Promoter Score (NPS) of 86. Hive also strengthened its leadership by appointing David Lagarde as Chief Operating Officer, hiring Tobias Eppler as Chief Growth Officer, and appointing Lukas Klinser as Chief Product Officer.
Tim Rehder, Partner at Earlybird, said: “We’ve been truly impressed by Hive’s progress. Hive’s growth, customer feedback, technological maturity, and company leadership are unmatched in Europe and we look forward to the continued journey together.”
Read the orginal article: https://www.eu-startups.com/2024/06/berlin-based-hive-raises-e28-2-million-to-make-commerce-operations-better-for-brands-across-europe/
