Ixtens, a New York-based SAAS company that powers marketplaces for online retailers and media companies, has secured a Series A financing to the tune of $4.6 million. Lead investors were Greycroft Partners and BV Capital, with participation from Marvin Traub Associates, a retail consulting firm.
Ixtens is in the unfashionable but extremely profitable multichannel ecommerce software space. So far it’s been integrated into with Amazon.com, eBay, Shop.com, Buy.com, Overstock.com and other marketplaces.
The aim is to go after the billion dollar online retail market, working with large retailers and opening the platform to mid-market players. An online retailer can integrate all elements of a site and supply chain without ever touching physical inventory.
Ixtens lets merchants sell their products anywhere by syndicating goods to multiple marketplaces, solving inventory financing. A merchant can also turn an online store into a a marketplace, selling integrated third-party inventory from another supplier.