The B2B DJUST SaaS e-commerce platform, which is based in Paris, announced that following the results of the Series A financing round, it managed to raise investment funds for $12.9 million.
The company intends to use the received funding to implement solutions to expand its activities in the European Union, as well as to enter the UK and US markets.
The firm will also spend investment funds for more active development of solutions for its main product. The relevant information is contained in a message that was published on the company’s blog last Monday, June 12.
The funding round was conducted by New Enterprise Associates, Inc. (NEA), with the participation of ELAIA partners.
DJUST solution is specially designed for B2B needs. The company is engaged in servicing distributors, wholesalers, and manufacturers. The firm also supports online catalogs, B2B e-commerce, e-procurement, and trading platforms. The company claims that the application of its solution provides a hassle-free purchase process, increases productivity and guarantees accelerated growth.
The founder and CEO of DJUST, Arnaud Rihant, stated in his blog that his firm wants to save enterprises from the difficulties associated with the creation, launch, and conduct of B2B commerce. He said that companies should stop the practice of making minor changes to outdated systems and switch to a powerful, modular, integrated platform. According to him, this solution provides new opportunities for future growth and provides the highest quality customer service.
Over the past year, DJUST has doubled the number of staff, which currently stands at more than 40 people. Also, by the end of 2022, the company doubled its annual fixed income. The growth of this indicator is the result of the fact that the company has concluded deals with more than 15 distributors and manufacturers throughout Europe. The firm’s customers can quickly switch from offline to online and connect all existing systems to a single central platform.
Arthur Karon, head of the supply chain of the French retailer Franprix, says that with the help of a modern solution for B2B commerce, it is possible to increase productivity, and customer satisfaction and achieve greater transparency by centralizing all procurement and re-sorting operations.
Intra-industry research shows that in the US, 31% of retailers invest in procurement systems, and 53% plan to do so. At the same time, 42% of manufacturers are already financing the modernization of their procurement technologies, another 44% formulate these investments.
As we have reported earlier, AI Firm Cohere Raises $270 Million.
