France-based business-to-business (B2B) e-commerce SaaS platform DJUST has secured €12m ($12.94m) in a Series A funding round to expedite market expansion.
The funding was led by New Enterprise Associates (NEA) and the European investment firm Elaia Partners.
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DJUST will leverage the proceeds to expand into markets across Europe, the UK and the US.
In addition, the company plans to invest heavily in developing solutions for its core product.
The latest funding comes after DJUST recured €4m ($4.31m) in seed funding from Elaia in 2020.
The company has strengthened its workforce from 20 to more than 40 over the years, and has more than doubled its annual recurring revenue.
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By GlobalDataThe B2B commerce platform offers professional buyers and sellers a frictionless shopping experience.
Specifically designed for B2B needs, DJUST will strengthen industries such as distributors, franchising, wholesalers and manufacturers.
The platform supports all B2B channels, including online catalogues, B2B eCommerce, eProcurement and Marketplace connectors.
DJUST founder and CEO Arnaud Rihiant said: “The B2B eCommerce journey has been upended over the past decade and behaviours and expectations on both the buyer and seller end have significantly changed the way B2B companies need to acquire, convert, retain and expand customers.
“Yet many B2B companies are left to deal with these shifts on their own, supported only by outdated solutions that don’t fit their current needs.
“We want to free all businesses of the hassle of building, launching and running B2B commerce. That will happen when companies stop making small adjustments to outdated systems and instead embrace an integrated, modular and powerful platform. In turn, that future-proofs new growth opportunities and excellent customer service.”
