Woflow Expands Data Infrastructure Powering Digital Transformation with $7.3M in Series A Funding
Investment will be focused on talent acquisition and product development to advance Woflow's Merchant Data Platform
Jan 25, 2022, 09:00 ET
SAN FRANCISCO, Jan. 25, 2022 /PRNewswire/ -- Woflow, the data infrastructure company behind some of the world's largest food delivery companies, today announced $7.3M in Series A funding. The round was co-led by Base10 Partners and Construct Capital with participation from existing investor Craft Ventures. The latest funding round will be used to accelerate the company's global team expansion, along with further product development and the launch of a new retail data API offering.
Woflow provides data infrastructure that helps platforms and marketplaces around the world automate the way they onboard merchant data. A once time-intensive task involving manual processes and labor, Woflow's customers can easily embed it's solution within their existing merchant onboarding flows to ensure data is digitized correctly and ready to use within their applications. Companies including DoorDash, Deliveroo, Wolt, and Popmenu already use Woflow's Merchant Data Platform to rapidly onboard their merchant partners.
"Woflow has made tremendous progress over the last year and we are proud to continue backing their vision to build the critical infrastructure for merchants of all kinds to participate in the digital economy," said Rexhi Dollaku, Partner at Base10 Partners. Dollaku will join the Woflow board as part of the investment.
To keep up with customer demand for its solutions, including expanding use cases, Woflow will use the investment to significantly boost hiring. Woflow has continued growing their team with a hybrid working model, with teammates working from the headquarters in San Francisco or joining remotely from around the US and globally. Supporting global demand, Woflow has teams in North America, Latin America, Europe, Africa and Asia.
"Woflow's technology has been a great enabler for Deliveroo's ongoing growth," said Ana Riesco, Global Head of Restaurant Operations, Deliveroo. "Maintaining a high level of quality and service through seamless integration into our CRM tools, has allowed for consistent speed of menu creation for our Restaurant partners."
Retail data, such as grocery stores, convenience stores, and cannabis dispensaries have similar problems when it comes to bringing the purchasing experience online. Through a series of machine learning models and task automation, Woflow is building a seamless API to request highly formatted, rich product data from a vast array of inputs to power the rise in retailer eCommerce. "In order for consumers to have the seamless experience they expect while shopping across platforms, universal, rich product data needs to exist," said Jordan Nemrow, Co-Founder & CEO of Woflow. Woflow's retail data API improves customer experience metrics like engagement rates, basket size, and search and discoverability with structured rich product data.
Woflow has seen continued momentum and interest for its Merchant Data Platform, helping onboard tens of thousands of merchants a month. To date the company's platform has digitized over 60 million products for over 800,000 restaurants and retail stores across North America, Europe, Latin America, and Asia. Part of the expansion will focus on capturing more share in current markets as well as scaling the technology platform to work natively in more languages and regions.
Woflow's developments in automated merchant data onboarding means the company is well positioned to enable merchant engagement in future digital economies such as the metaverse. Businesses have already reorganized around new norms, such as online ordering and remote work, and the digital shift continues to accelerate. "As consumers demand more digital experiences, and businesses adapt, it's inevitable that in the future most people will be interacting with digitized versions of their physical lives, through VR/AR or in the metaverse," said Will Bewley, Co-Founder & COO of Woflow. "We're building the data infrastructure layer that'll power businesses as they transition to this next generation of technologies."
Co-leading the round with Base10 Partners is Rachel Holt, Co-Founder and General Partner at Construct Capital, and former member of the Executive Leadership team at Uber. "Woflow is building the core foundational infrastructure to help bring local merchants into the digital world," she said. "We're already seeing the impact they are having across restaurant merchants and that's only the beginning. We're thrilled to be part of the Woflow journey." Together, Base10 Partners and Construct Capital, with their domain expertise in both automation and global scaling, will assist Woflow in building towards their mission of structuring the world's unstructured data.
Woflow is looking for ambitious teammates who want to build the data infrastructure for digital transformation and is hiring across all roles in San Francisco, remotely in the US and around the world. Learn more at https://www.woflow.com/careers
Woflow is a leader in catalog digitization and data management providing the world's first Merchant Data Platform. Woflow helps industry-defining platforms and marketplaces create and maintain complex structured data at scale. Woflow was founded in 2017 by Jordan Nemrow and Will Bewley, and is headquartered in San Francisco, CA.
For more information please visit: https://www.woflow.com
SOURCE Woflow, Inc.
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