Marxent Closes Series C Financing to Facilitate Strategic Growth and Expand International Footprint
Marxent's 3D Commerce platform expanding in both US and international markets; "COVID has further accelerated the demand for virtual selling for home goods. Marxent is the recognized technology leader enabling the experience."
ST. PETERSBURG, Fla., Jan. 22, 2021 /PRNewswire/ -- Today Marxent, the leader in 3D Commerce for the home vertical, announced it has secured Series C financing. The cash infusion will fund strategic value creation opportunities such as international expansion and new product development.
Marxent's mission is to create a 3D ecosystem for enterprise furniture, building products, and home improvement retailers and manufacturers that makes it easy to sell high-value, configurable products online. Clients already include many leading retailers and manufacturers including Lowe's Home Improvement, Ashley HomeStore, Macy's, La-Z-Boy, HNI Corporation, Fortune Brands, American Woodmark, Herman Miller, Jerome's Furniture, John Lewis and Partners (UK), and Kingfisher plc (UK).
"Marxent's 3D commerce platform will transform both the customer experience and underlying ecosystem like Netflix and Tesla did for their categories. With a blue-chip client base, proven ROI, millions of buyable SKUs, and hundreds of millions in 3D-enabled sales, Marxent's 3D Cloud is the virtual selling platform of choice for high-value, configurable products for the home," said Arnie Bellini of Bellini Capital, the lead investor in the round. "3D-enabled selling was already an emerging growth category. COVID has further accelerated the demand for virtual selling of home goods and Marxent is the recognized technology leader in the space enabling the experience."
"3D room planning and augmented reality apps for furniture, kitchen, bath, and outdoor decking went from value-add solutions to essential business priorities," said Beck Besecker, Marxent's CEO and Co-Founder. "We prioritized creating meaningful value for our partners and proving out the unit economics of our business for the past two years. The time is right to further invest in strategic growth initiatives. Arnie Bellini is a B2B SaaS pioneer. We're thrilled to have him lead our Series C and join Marxent's board."
The company's growth initiatives include:
International Expansion - Growth in Europe, the U.K. and other markets
New Product Development - Adding highly requested, value-add features
New Verticals - Expanding to new adjacent home categories
Strategic Partnerships - Integrations with Pinterest and other inspiration platforms
"Helping companies to embrace the transformative power of virtual selling through a centralized 3D strategy is at the heart of everything we do," Besecker said. "We ensure that Marxent partners get everything they need to stay ahead of the curve and deploy 3D solutions quickly because we feel a great sense of responsibility to help our clients forge the future of retail."
To support the growing 3D needs of their European clients, including John Lewis and Kingfisher, Marxent will expand the UK and French offices.
"This investment enables us to further support the now permanent priority of e-commerce and the role of new hybrid stores," said Leigh Davidson, Managing Director for Marxent Europe. "Getting stuck in slow and confusing tools is no fun for consumers. Our inspirational 3D planners are enabling users to quickly design from photos and confidently add entire rooms to basket," Davidson said.
"From London and Paris, to Dayton and St. Petersburg, Florida, I just can't say enough good things about the Marxent team," Besecker said. "It has taken an incredible group of folks to build Marxent into a market leader in this exciting space and the journey has just begun. They bring an inspiring combination of grit, determination, and creativity to the table and are ready for what's next. We have grand ambitions and are excited to grow the team and company materially in 2021 and beyond."
Marxent 3D Cloud and 3D applications are used by innovative omnichannel home improvement and home furnishings retailers and manufacturers to reduce returns, sell bigger baskets, and enhance the customer experience both in-store and in a range of virtual selling formats. From 3D Room Design to AR to VR, 3D Cloud enables shoppers to plan, visualize and buy with confidence. 3D Cloud is a content management and hosting platform for 3D products that scales to the enterprise and powers applications for product visualization and configuration at all points in the customer path to purchase, including Augmented Reality, Virtual Reality, 360 Product Spins, 3D Product Configurators, and Web VR applications such as 3D Room Planner and 3D Kitchen Designer for Web. With 3D Cloud retail solutions, buyers can visually configure, price and quote projects with multiple components and customizations. For more information, visit www.marxent.com. Clients include Lowe's Home Improvement, La-Z-Boy, Macy's, HNI Corporation, and Fortune Brands.