Amp Raises US$18.5m (AUD$28.5m) Series A to Expand eCommerce Platform

Sydney, Australia – September 12, 2023 – Amp, the profit analytics platform for eCommerce brands, today announced it has raised US$18.5 million (AUD$28.5 million) in Series A funding to expand its platform and help more online merchants understand their true profitability.

The round was led by prominent venture capital firms focused on B2B SaaS and eCommerce infrastructure, with participation from existing investors who supported Amp’s seed round.

The Profit Blind Spot in eCommerce

Most eCommerce platforms show revenue, but very few show actual profit. Merchants often don’t realize they’re losing money on specific products, customer segments, or marketing channels until it’s too late.

“We’ve analyzed billions of dollars in eCommerce transactions, and the patterns are clear,” said Cameron Priest, CEO of Amp. “Brands think they’re profitable because revenue is growing, but when you account for returns, discounts, shipping costs, payment fees, and customer acquisition costs, the picture changes dramatically.”

Amp’s platform, anchored by its Lifetimely analytics product, gives merchants a complete view of profit across their business—from individual product margins to customer lifetime value to channel-level ROI.

What the Funding Enables

The Series A funding will be used to:

Expand Product Capabilities – Building deeper integrations with advertising platforms, shipping carriers, and fulfillment systems to automatically track all costs that impact profit.

Grow the Team – Hiring additional engineers, data scientists, and customer success specialists to support Amp’s rapidly growing merchant base.

Accelerate AI Development – Investing in machine learning models that can predict customer lifetime value, identify at-risk customers, and recommend profit-maximizing actions.

Geographic Expansion – Scaling operations to support merchants in new markets, particularly in North America and Europe.

Traction and Growth

Since launching in 2019, Amp has:

• Grown to serve over 5,000 Shopify merchants globally
• Processed more than $3 billion in eCommerce transactions
• Achieved 300% year-over-year revenue growth
• Maintained a 95+ NPS score from customers

“The growth has been organic,” Priest noted. “Merchants find us because they’re frustrated with traditional analytics that only show revenue. Once they see their actual profit broken down by product, customer cohort, and marketing channel, they can’t go back.”

The Future of eCommerce Analytics

Amp believes the future of eCommerce belongs to brands that optimize for profit, not just revenue.

“Every decision should start with a simple question: Does this make us more profitable?” said Priest. “Not more popular, not more viral—more profitable. That’s what sustainable businesses are built on, and that’s what Amp helps merchants achieve.”

With the Series A funding, Amp plans to become the standard profit operating system for eCommerce brands worldwide.

About Amp

Amp is the profit analytics platform for eCommerce brands. Through its flagship product Lifetimely, Amp helps online merchants understand true profitability across products, customers, and marketing channels. The platform integrates with Shopify, advertising platforms, and accounting systems to provide a complete profit picture in real-time.

Media Contact

For press inquiries, please contact: press@useamp.com