With this funding round, StoreConnect is able to expand further its work on simplifying ecommerce complexities through its comprehensive all-in-one solution for small and medium-sized businesses. The importance of this funding also lies in StoreConnect's aim to eliminate major barriers, allowing SMBs to connect with more customers, thereby possibly levelling the playing field in the ecommerce arena.
Built on Salesforce, this approach by the company has garnered the support of over 60 Salesforce Solution Integration partners within the last 24 months and is currently on a run rate of USD 50 million by 2028. The raised funds will then be utilised to expand StoreConnect's global reach by hiring a dynamic sales team, advancing technology to enhance customer experience, as well as expanding its partner network, which includes Salesforce solution integration partners.
SMBs struggle to sustain growth and longevity. About 34% of online stores withdraw their business within a year, with average lifespans being about 143 days.
The high number of apps (or plugins) available in the marketplace leads SMBs into a heavy evaluation process to find the right fit.
For these businesses, adding just six customer-facing apps can inflate load times significantly. This slowdown can possibly sabotage user experience and affect sales conversions. According to SEO specialist Neil Patel, pages taking over six seconds to load lose half of their visitors, impacting traffic and revenue generation. Swift page speed is essential for customer engagement and business success.
Having to balance functionality and performance: SMBs are advised to limit apps to a manageable number for a comprehensive online store. Therefore, finding the right apps out of the numerous plugins available can take away valuable time from small business owners.
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