AMP, a Sydney, Australia-based AI-driven eCommerce software platform, has raised A$20 million in funding.
As part of its growth strategy, AMP also acquired Back In Stock, a popular Shopify app that helps merchants send back-in-stock notifications to customers.
Investors
The round was backed by existing investor Openspace Ventures and new investor OneVentures.
Openspace Ventures is a Singapore-based venture capital firm founded in 2014 that invests in early and growth-stage tech-enabled businesses across Southeast Asia. The firm focuses on sectors like consumer, healthcare, finance, and enterprise tech.
OneVentures is a Sydney-based venture capital firm managing over $320M across multiple funds. Founded in 2006, it focuses on growth equity, growth credit, and healthcare investments.
AMP Use of Funds
The companyu will use the funds to enhance its AI capabilities, expand its product offerings, integrate Back In Stock’s technology, and onboard 25,000 new customers, while strengthening its presence in North America, Europe, and APAC.
About AMP
Founded in 2022 by Cameron Priest and Patrick Barnes, AMP provides an AI-powered eCommerce platform that offers interconnected solutions designed to help businesses scale and optimize their operations. It provides solutions for metrics analysis, personalized shopping, and tools to recover lost sales, such as back-in-stock notifications. AMP serves a wide range of eCommerce brands, including notable customers such as SKIMS, Kylie Cosmetics, Redbull, Steve Madden, UGG Express, Princess Polly, DISSH, Liquid Death, and Summer Fridays, along with over 45,000 brands globally.
Funding Details
Company: AMP
Raised: A$20.0M
Round: Unknown
Funding Date: March 2025
Investors: Openspace Ventures, OneVentures
Company Website: https://useamp.com/
Software Category: AI eCommerce
Source: https://useamp.com/newsroom/amp-acquires-back-in-stock