In a nutshell
- Bulgarian e-commerce tech startup Rush was acquired by Shop Circle, and it is now fully managed by it.
- Shop Circle will directly integrate Rush into their portfolio of apps. The process is expected to take a few months to fully implement the new strategy.
Their background story
Rush was founded in 2019 by Kiril Kirilov, with a background in the e-commerce industry, and Stanislav Stankov who has experience in product management. The app aims to help e-commerce businesses, individual merchants, and drop shippers to transform their shipment tracking pages into marketing opportunities.
The Rush app’s integration with Shopify offers a SaaS solution for order tracking and notifications, facilitating post-purchase communication between Shopify merchants and their customers. This platform includes a range of features, such as a customizable tracking page, product recommendations and cross-selling opportunities, as well as comprehensive analytics and insight functionalities. According to the company’s data, it’s trusted by more than 2,8K global brands on Shopify & Shopify Plus, to which it brings up to 30xROI.
Previously, Rush has been backed by Eleven Ventures and LAUNCHub Ventures, including angel investors, such as Adii Pienaar, ex co-founder of WooCommerce, Casey Armstrong, CMO at Shipbob, Jonathan Kennedy, founder of HeyCarson, Yair Miron, founder of Rise.ai, Mihail Stoychev and Georgi Petrov, the co-founders of SMSBump.
Shop Circle, a technology company that acquires and grows e-commerce software, boasts a portfolio of over 40 apps within just three years.
Additional information on the deal will be disclosed within the next few months.
In their own words
“Scaling a successful SaaS requires time, effort, funds, resources, a strong network, brand presence, continuous partner nurturing – and a million other micro steps. While the core Rush team managed to grow both the number of Shopify stores and MRR drastically in the second half of 2023, maintaining the right velocity long-term in a competitive market required a lot more than a small yet committed team”, shared Mario Peshev, CEO of Rush.
“Q1 has been busy at work after the heavy Q4 push, but we’ve finalized the transition, and I’m very thankful to everyone we’ve worked with so hard to complete the migration. I can’t wait to see where Rush will be in December”, he added in a LinkedIn post.
Mario Peshev shared for The Recursive that he will step down from his role as a CEO, and focus on managing other ventures, as well as his angel investment portfolio.
