Firework, a short-form video platform that brings a shoppable, livestream video experience to websites, on Thursday said it has raised an undisclosed amount of funding from Amex Ventures. While the company did not disclose the amount raised in this round, the company said it has raised over USD 100 million till date. Firework is backed by IDG Capital, Lightspeed Venture Partners and GSR Ventures.
The proceeds of the round will be utilised towards expanding reach to small- and mid-sized D2C businesses, brands and merchants which is core to Amex, Firework President (Global Business) Jason Holland said.
“This investment from Amex Ventures is about much more than just the dollar amount. It’s also an affirmation of Firework’s mission to deliver enterprise-level customer engagement solutions to the small business sector.
“With this investment, Firework will double down on its commitment to democratising the world of e-commerce, putting control back in the hands of businesses,” he added.
In the Asia-Pacific market, “shoppertainment” has already experienced widespread adoption.
“Amex Ventures invests in ideas that are transforming the everyday for consumers and businesses globally. Firework is building the infrastructure to power next-generation digital shopping and e-commerce experiences,” Harshul Sanghi, global head of Amex Ventures, said.
Amex Ventures believes Firework is positioned at the cutting-edge of e-commerce, enabling companies to interact with their customers in new and exciting ways.
Firework offers shoppable video, live streaming commerce and monetisation capabilities to over 600 direct-to-consumer brands, retailers and media publishers worldwide. It has experienced 10x year-on-year growth, bringing interactive video experiences to your websites and apps.
It enables its customers to create and host native, shoppable video content for engaging product discovery, seamless shopping experiences.
