Forum Brands, an eCommerce acquisition platform, announced that it has raised $100 million in debt funding from TriplePoint Capital. The investment comes just two months after the company raised $27 million in equity funding.
The company was founded by Brenton Howland, Ruben Amar and Alex Kopco in the summer of 2020 and is focusing on building a portfolio of high-growth eCommerce businesses that sell on Amazon and those that are category leaders both on and off Amazon. Its platform utilizes advanced algorithms and more than 100 million data points to populate brand information in real-time, score brands and generate accurate financial metrics.
“We’re building a first-class software company internally where we are the power user, and our M&A engine is just one of many examples,” Howland said.
“We leverage technology and data science to curate a highly selective acquisition pipeline from hundreds of thousands of brands, and we now have the resources to take our portfolio to the next level.”
In just over a year, Forum Brands has acquired several new brands such as pet products seller Bonza and eco-friendly baby products brand Simla Rose, which sells in the U.S. and EU. The company plans to continue acquiring new brands using its debt financing but its founders are being selective in their approach.
“We continue to be a quality-first buyer and not quantity-driven,” Amar said.
As part of its debt financing round, Forum Brands is also adding Sajal Srivastava, the co-CEO and co-founder of TriplePoint Capital, to its board of directors.
“We are impressed not only by Forum’s long-term strategy and ability to leverage technology and deep collective e-commerce and M&A experience but also by how Forum cultivates relationships with their sellers both before and after partnering with them,” Srivastava said in a written statement.
Forum has quickly grown from having 20 employees in June this year to 40 at the time of its latest debt financing round.