About Promenade
Promenade is a company based in Santa Monica (United States) founded in 2010 by Gregg Weisstein and Farbod Shoraka. It operates as a SaaS (Software-as-a-Service). Promenade has raised $11 million across 1 funding round from investors including B. Riley Financial. Promenade has completed 1 acquisition, including Floom. Promenade offers products and services including Promenade Ecommerce Platform, BloomNation for Florists, Promenade for Restaurants, Promenade for Liquor Stores, and Promenade for Butcher Stores. Promenade operates in a competitive market with competitors including Medallia, BloomReach, eGain, Paystone and CloudCherry, among others.
- Headquarter Santa Monica, United States
- Founders Gregg Weisstein, Farbod Shoraka
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Sectors
Retail
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Phone
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Website
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$11 M (USD)
in 1 rounds
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Latest Funding Round
$11 M (USD), Series B
Feb 03, 2021
- Investors
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Employee Count
Employee Count
- Investments & Acquisitions
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Products & Services of Promenade
Promenade offers a comprehensive portfolio of products and services, including Promenade Ecommerce Platform, BloomNation for Florists, Promenade for Restaurants, Promenade for Liquor Stores, and Promenade for Butcher Stores. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
An ecommerce platform is provided for local businesses.
A floral POS system is offered for florists.
A comprehensive solution is provided for restaurant businesses.
A tailored solution is offered for liquor stores.
A specific solution is designed for butcher shops.
Funding Insights of Promenade
Promenade has successfully raised a total of $11M through 1 strategic funding round. The most recent funding activity was a Series B round of $11 million completed in February 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Series B — $11.0M
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First Round
First Round
(03 Feb 2021)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2021 | Amount | Series B - Promenade | Valuation | B. Riley Financial |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Promenade
Promenade has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include B. Riley Financial. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Mergers, acquisitions, capital raising, and strategic advisory services are provided.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Promenade
Promenade has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Floom. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Floom is operated as an online flower delivery marketplace.
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2015 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Promenade
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Promenade Comparisons
Competitors of Promenade
Promenade operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Medallia, BloomReach, eGain, Paystone and CloudCherry, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Medallia is focused on customer and employee experience management.
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| domain | founded_year | HQ Location |
SaaS-based product discovery and personalization for e-commerce are provided.
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| domain | founded_year | HQ Location |
SaaS-based customer management software solutions are offered for retail businesses.
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| domain | founded_year | HQ Location |
Customer engagement solutions for businesses are provided by Paystone.
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| domain | founded_year | HQ Location |
Customer experience management software
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| domain | founded_year | HQ Location |
Crowdsourced customer service platform is provided on-demand for issue resolution.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Promenade
When was Promenade founded?
Promenade was founded in 2010 and raised its 1st funding round 11 years after it was founded.
Where is Promenade located?
Promenade is headquartered in Santa Monica, United States. It is registered at Santa Monica, California, United States.
Who is the current CEO of Promenade?
Farbod Shoraka is the current CEO of Promenade. They have also founded this company.
Is Promenade a funded company?
Promenade is a funded company, having raised a total of $11M across 1 funding round to date. The company's 1st funding round was a Series B of $11M, raised on Feb 03, 2021.
What does Promenade do?
An ecommerce platform is offered by Promenade to empower local businesses such as florists, restaurants, liquor stores, butcher shops, and pet stores. Solutions are tailored to specific industries, ensuring mobile-friendly, SEO-optimized storefronts. Online revenue growth is supported through intuitive shopping experiences and business management tools. Marketing services are also provided to enhance customer reach and conversion. The platform is designed to drive qualified traffic and increase sales for small, local merchants across various sectors.
Who are the top competitors of Promenade?
Promenade's top competitors include BloomReach, CloudCherry and eGain.
What products or services does Promenade offer?
Promenade offers Promenade Ecommerce Platform, BloomNation for Florists, Promenade for Restaurants, Promenade for Liquor Stores, and Promenade for Butcher Stores.
How many acquisitions has Promenade made?
Promenade has made 1 acquisition, including Floom.
Who are Promenade's investors?
Promenade has 1 investor. Key investors include B. Riley Financial.
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