Canton-based Society Brands, an Amazon aggregator built for and by founders, has completed its first institutional capital raise of $204M led by i80 Group, a leading provider of capital to breakthrough technology companies.
A combination of debt and equity, Society Brands will use the newly raised capital to continue acquiring Amazon FBA businesses at a rapid pace. The capital raise positions Society Brands as one of the best-funded Amazon aggregators in the world, and in a prime position to grow its portfolio to over $1 billion in revenue in the next few years.
"We are excited to partner with i80 Group to fuel our growth by acquiring the best e-commerce native consumer products companies that embrace our unique business model," said Michael Sirpilla, CEO of Society Brands. "This capital raise is validation that we are building something very special here at Society Brands. We truly have a unique strategy and a great capital provider who shares our vision. It will be a lot of fun having a great partner like i80 Group along for the ride. The best is yet to come!"
Society Brands will use the $204M capital raise to acquire e-commerce native consumer product brands with a heavy concentration on Amazon. The company will also hire additional talent, expand their operating platform, and build propriety technology to find companies to acquire.
Society Brands worked with SenaHill Partners, a New York-based merchant bank, as a strategic and financial advisor during the capital raise.