News March 16, 2023
SwagUp Receives Investment From Decathlon Capital Partners
The New Jersey-based distributor offers what it describes as a streamlined platform for creating, automating and distributing merch.
SwagUp (asi/340527) says its sales are increasing, and the Piscataway, NJ-based promotional products distributor just received an investment from a revenue-based funding investor to help power the growth.
SwagUp, which offers what it describes as a streamlined platform for creating, automating and distributing branded merchandise, plans to use the funds from Decathlon Capital Partners to support growth initiatives, expand product offerings and enhance service to clients.
Specific details, like the investment amount, were not disclosed, but SwagUp noted that the deal did not require any exchange of equity or ownership for capital. SwagUp has not given up any control of the company, and it will repay the investment through future revenues.
SwagUp launched in 2017 and has served clients that include Walmart, TED, Duolingo and Crunchbase.
“In under three years, we went from having no clients to working with more than 5,000 top companies,” Michael Martocci, founder and CEO, said in a statement. “Our mission to eliminate the issues that come with the swag buying and distribution process resonated with companies that were looking for premium swag packs.”
SwagUp’s platform, founder and growth have earned mainstream media attention. Martocci made Forbes’ 2021 30 Under 30 list. Ernst & Young (EY) named Martocci 2021 Entrepreneur of the Year for New Jersey. Also in 2021, SwagUp ranked 23rd on Inc. magazine’s list of the fastest-growing companies in the United States.
With offices in Palo Alto and Park City, Decathlon Capital Partners said it provides growth capital for companies seeking alternatives to traditional equity investment. Through the use of customized revenue-based financing solutions, Decathlon said it provides growth capital without the dilution, loss of control and operational overhead that may come with equity-based funding.
“As SwagUp continues its outstanding growth trajectory, Decathlon Capital Partners is excited to support its continued advancements and successes,” said Wayne Cantwell, Decathlon’s managing director.