# ShopCanal

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/shopcanal

- Industry: Retail
- Headquarters: San Rafael, US
- Website: www.shopcanal.com
- Total disclosed funding: $27M
- Latest round: Series A (Jan 4, 2022)
- Investors on record: 3

## About

ShopCanal, Inc. is a US-based marketplace platform that enhances product offerings for retailers by facilitating brand partnerships and dropshipping solutions, enabling seamless sales without inventory management.Founded in 2021 by Bennett Carroccio, Clay Schubiner, and Liam Kinney, ShopCanal, Inc. operates out of San Rafael, US. The company has conducted two deals, with its latest funding round being Series A in January 2022, raising USD 22.4 mn from Gaingels and others, bringing the total amount raised to USD 22.4 mn and valuing the company at USD 99.16 mn.ShopCanal delivers a comprehensive marketplace platform that allows retailers to partner with third-party suppliers through dropshipping, offering features like real-time inventory management and customizable experiences. It caters to a diverse clientele, including direct-to-consumer brands and e-commerce teams, helping them optimize their product assortments and marketplace presence.The revenue model for ShopCanal is based on B2B partnerships and subscription fees, enabling retailers to access a network of over 1,600 suppliers without upfront inventory costs. Revenue is generated through negotiated revenue shares at the product level, with flagship offerings including tailored dropshipping solutions and performance analytics to enhance operational efficiency.Following the Series A funding of USD 22.4 mn in January 2022, ShopCanal plans to expand its engineering, sales, marketing, and operational teams to meet growing demand. The company is focused on launching new products and exploring expansion into additional markets to broaden its reach and service offerings.

## Funding rounds

- Series A, Jan 4, 2022, $22M — Gaingels
- Seed, Mar 1, 2021, $4.5M — Forerunner Ventures, Andreessen Horowitz

## Investors

- Forerunner Ventures (https://capitalatlas.ai/funds/forerunner-ventures) — Seed
- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Seed
- Gaingels (https://capitalatlas.ai/funds/gaingels) — Series A