AUSD$25M was raised by EQL, a Melbourne-based startup in hype commerce.
The round was led by Insight Partners and AirTree Ventures with participation from Guillaume Pousaz’s Zinal Growth, Harry Stebbings’ investment fund, 20VC; Sam Kroonenburg, Founder of A Cloud Guru; and the family office of Michael Rubin, CEO of Fanatics and Co-Owner of the Philadelphia 76ers.
The company plans to use the funds for global sales and customer team strengthening, as well as to further develop its infrastructure.
EQL’s CEO Andrew Lipp is the leader of this hype commerce platform. It allows retailers to manage high demand product launches. Its hype infrastructure stops sites from collapsing, slows down scammers, bots, and provides a fair launch experience. EQL supports over 1,000 launches and connects millions of fans to products they love. EQL started out as a supporter of sneaker brands, but now supports luxury brands in apparel, alcohol, accessories and ticketing.
Footlocker whisky, Sullivans Cove whisky, and Crocs are among the early adopters. They use the platform for managing limited-release product launches. It is currently available in Australia, New Zealand and Malaysia, Spain as well as the UK, Americas, Singapore, France Netherlands, Macau, Hong Kong, Hong Kong, Singapore, Malaysia, Spain, Australia, New Zealand, Malaysia, Spain and Australia.