Foley & Lardner LLP acted as legal counsel to Teikametrics, the leading optimization platform for sellers on Amazon and Walmart, in its completion of a $40 million Series B round led by Intel Capital, one of the world’s top investors in artificial intelligence (AI) technology. GoDaddy participated in the round, as well as Centana Growth Partners and Lydia Jett, Head of ecommerce at Softbank Vision Fund, as an individual strategic investor. Existing investors Jump Capital and Granite Point Capital also joined in the round.
The new funding will drive the expansion of Teikametrics’ AI-powered SaaS platform, Flywheel 2.0, and support the Teikametrics’ mission to bring cutting-edge decision-making capabilities to every online seller in the world.
The $40 million round reflects investors’ increasing interest in the ecommerce space following a surge in online sales during the pandemic, and Teikametrics is uniquely positioned to capitalize on that growth. Flywheel 2.0 is already trusted by thousands of online sellers, from fast-growing direct-to-consumer brands such as mDesign, Solo Stove, Nutrafol and Nomatic, to household names including Timberland, Nutribullet, Munchkin and Clarks.
The Foley team was led by partners Lawrence Kraus and David Kantaros and included partners Timothy Voigtman, Jamie Class, Casey Knapp and Michael Walsh, special counsel Michael Callahan, of counsel Joshua Agen, and associates Paige Moscow, Laura Burlot and Jacob Adams.