Dallas, Oct. 04, 2016 (GLOBE NEWSWIRE) -- Selery Fulfillment, a Dallas-based logistics and fulfillment company, has announced that it has raised $325k in seed funding. The raise was structured as a convertible note and syndicated by Tech Wildcatters, a venture capital seed fund and nationally ranked accelerator. The round included lead institutional investor, Deep Space Ventures, with participation from angel investors from Dallas, Atlanta, and New York. The investment will be used to expand operations to include a state of the art warehouse and logistics center to support strategic growth initiatives and to service its rapidly growing customer community.
"We are pleased to work with Tech Wildcatters, Deep Space Ventures, and the investor community to raise our seed round," said Justin White, CEO of Selery Fulfillment. "Their support is more than the financial investment, it includes their expertise in operations, marketing, and sales. They are a welcome addition to Team Selery, and we look forward to putting their investment and experience to work to significantly overachieve against our forecast."
Selery Fulfillment entered the Tech Wildcatters Gauntlet accelerator program in February, and over the past 8 months, through the program activities and mentoring has been able to increase revenue by over 600%. Deep Space Ventures is an investor in Tech Wildcatters and provides investment and mentoring to startup companies in the program.
"Selery Fulfillment is a unique, high touch, customer-service focused logistics business, selling into the growing eCommerce space at a price point that is supportive of small businesses looking for a physical warehousing and shipping solution. The team has an unparalleled balance of logistics and technology domain knowledge that has been applied to building a strong B2B platform," said Stephen Hays, Managing Partner of Deep Space Ventures. "We are excited to see where Justin and his team take this business in the coming years."
"This the first time Tech Wildcatters has syndicated a seed round, and we ended with a round that was oversubscribed by over $125k at the end of two weeks," said Robert Brevelle, Managing Director of Tech Wildcatters. "That is a testament to the accomplishments and dedication of Justin and his team and overwhelming investor confidence in Selery Fulfillment's continued ability to capitalize on opportunities within the marketplace."
Angel investors funded the remainder of the round and came from the Tech Wildcatters network.
"We traditionally invest in other sectors to include real estate and hospitality, but we were looking for a strategic partner in early stage technology investments that had a proven track record of success and a model that relied on clear objectives, metrics, and results. We found that in Tech Wildcatters and in their Gauntlet Methodology," said angel investor, Dr. Mark Choi of Distinguished Tech Ventures. "With the inherent visibility, engagement, and performance based leveling up process of the Gauntlet, Selery Fulfillment is a welcome addition to our investment portfolio."
The investment will be used to complete the move into their new 32,000 square foot logistics center, hire new team members, and implement several projects and services to support current and future customers.
About Deep Space Ventures
Deep Space Ventures is a venture capital fund, based in Dallas, Texas focused on making pre-seed, seed and series-A investments in start-ups. The fund was established in March 2016 by Managing Partner, Stephen Hays, and has made seven investments to date. Deep Space prefers to invest at the seed stage, in a meaningful way, then continue to add value not only through follow-on capital, but by investing time and energy in helping founders realize their maximum potential. For more information, visit Deep Space Ventures' website at http://www.deepspacevc.com.
About Tech Wildcatters
Tech Wildcatters is a global venture capital seed fund and nationally ranked startup accelerator based in Dallas, Texas. Founded in 2009 as one of the first accelerators in the world, it is consistently ranked as a top 10 accelerator. Tech Wildcatters operates a global network of entrepreneurs, mentors, subject matter experts, corporate partners, and investors and employs the performance based Gauntlet Methodology to accelerate companies and to help entrepreneurs achiever higher levels of success and impact. Tech Wildcatters invests at the pre-seed, seed, and series-A, and partners with companies to achieve long-term, strategic results to include scale, market leadership and operational excellence. For more information, visit Tech Wildcatters website at http://www.techwildcatters.com.
About Selery Fulfillment
Selery Fulfillment is a logistics company offering turnkey business-to-business and business-to-consumer solutions dedicated to helping eCommerce customers strengthen their brands, grow their online sales, and improve their customer engagement, service, and loyalty. Selery Fulfillment offers innovative personalized services, packaging, and technology to standout in the crowded eCommerce market. For more information, visit Selery Fulfillment's website at http://www.seleryfulfillment.com.
Source: Tech Wildcatters