In partnering with SIB, GETIDA joins one of North America’s largest cost reduction platforms, furthering its mission of providing Amazon FBA sellers with world-class reconciliation solutions. The investment will allow GETIDA to further expand and scale its offerings and services.
TEANECK, N.J.–(BUSINESS WIRE)–GETIDA, a global leader in Amazon auditing and reconciliation solutions, is pleased to announce its investment from SIB Fixed Cost Reduction (“SIB”), a portfolio company of O2 Investment Partners (“O2”). GETIDA is SIB’s sixth strategic investment since March 2020.
Kevin Flounders, CEO of SIB, commented, “GETIDA is one of the most exciting solutions that we have encountered in the e-commerce space. The SIB family is glad to be investing in GETIDA’s future growth, and assisting in its global expansion plans. We also greatly look forward to working together with its incredible team.“
GETIDA leverages data and analytics to achieve maximum recovery solutions for Amazon sellers. With advanced and proprietary technology for discovering discrepancies, along with robust dedicated case management teams, GETIDA marries the worlds of software and service solutions to ensure that Amazon sellers are optimized for maximum profitability and continued success.
“We carefully searched for the right investment partners to help GETIDA grow and diversify,” said Eytan Wiener, CEO of GETIDA. “I am thrilled that we have found SIB and O2 as strategic and financial partners. GETIDA now has significant capital and resources to further build out our technology and enter new global markets, while also being able to offer our platform users additional savings in areas beyond Amazon.”
Pat Corden from O2 Investment partners added, “The technology, innovative solutions, and unique culture of GETIDA perfectly align with the cost reduction investment thesis for the SIB platform. Our strategy is focused on helping business organizations reduce costs, and optimize profits, which is highly relevant in this uncertain economic environment. We are excited to partner with the GETIDA team and look forward to continued growth.”
Northbound Group served as financial advisor to GETIDA.
About GETIDA:
GETIDA is a technology company that offers Amazon sellers innovative auditing and reconciliation solutions. Established in 2015, GETIDA is a software and service partner on the Amazon Seller Central Partner Network and recently ranked 215 on the Inc. 5000 list. GETIDA provides its recovery solutions by offering full visibility over the recovery process through its user dashboard. Additional information is available at www.getida.com.
About SIB Fixed Cost Reduction:
SIB is a leader in fixed cost reduction services providing invoice analysis, vendor management, and cost monitoring for customers across a variety of expense categories including shipping, logistics, telecom, utilities, and waste management. The company earns performance-based fees based on the savings found for clients. SIB is headquartered in Charleston, SC. Additional information is available at www.aboutsib.com.
About O2 Investment Partners:
O2 Investment Partners is a Midwestern-based private equity firm that seeks to acquire majority interests in lower middle market B2B services, technology, and select niche industrial companies. The firm invests in businesses with earnings growth potential and a clear path to the creation of shareholder value. O2 invests with a view toward partnering with management to build and grow the business and take it to its next stage of development. This requires not only a clear vision and strategic plan to create shareholder value but a close partnership and alignment of interest with management. Additional information is available at www.o2investment.com.
Contacts
Nadine Bubeck, Pitch Public Relations
nadine@pitchpublicrelations.com
602-571-2657
