Cymax Group

Cymax Group
Company typeTechnology
IndustryeCommerce
Founded2004
FoundersArash Fasihi
SuccessorMike Herenberg
Headquarters
Burnaby, British Columbia
,
Canada
Area served
International
Key people
Markus Frind, Arash Fasihi
Number of employees
300 (2023)
Websitewww.cymaxgroup.com

Cymax Group Technologies Ltd. is a privately held eCommerce company headquartered in Burnaby, British Columbia, Canada. The Cymax Group of brands includes two retail websites, Cymax Business and Home Square, which sell furniture and decor; plus Freight Club and Channel Gate, which are eCommerce logistics and technology enablement platforms.

History

Cymax Group was founded in 2004 by Arash Fasihi[1] as an online retailer. The company developed a vendor portal and around 170 micro-sites. Currently, Cymax Group operates two online retail properties, Cymax Business and Home Square.

A Series A funding round in 2015, led by Frind Holdings, Salman Partners and BDC Capital Corporation, brought the organization's total funding amount to $25 million.[2]

The same year, the company launched Freight Club in the US with 100+ carriers offering nationwide drop shipping services at enterprise rates. Freight Club offers application programming interfaces that integrate with core systems. In 2020, Freight Club launched a cart-level, real-time shipping quote integration on the Shopify app store.[3]

In 2018, the company launched Channel Gate, offering a digital supply chain platform for furniture manufacturers.

In 2019, Rizwan Somji was appointed chief executive officer of Cymax Group. Under his leadership, the organization has increased focus and investment of resources on the development of technology in support of simplifying eCommerce for partners and consumers through machine learning, artificial intelligence, and advanced analytics.[citation needed]

Ratings

  • 2007 – Ranked 247th in the Internet Retailer Top 500 Internet Companies index [4]
  • 2008 – Ranked 200th in the Internet Retailer Top 500 Internet Companies index[5]
  • 2009 – Ranked 167th in the Internet Retailer Top 500 Internet Companies index[6]
  • 2010 – Ranked 168th in the Internet Retailer Top 500 Internet Companies index[7]

References

  1. ^ Meisner, Jeff. "Cymax Stores: The Little Online Furniture Shop That Could". E-Commerce Times. Retrieved 12 July 2017.
  2. ^ "Cymax Raises $25 Million Series A to Revolutionize Furniture E-Commerce". Market Wired.
  3. ^ "Freight Club launches real-time shipping and rate calculator at checkout on Shopify App Store".
  4. ^ Diversity helped Cymax Stores grow Q4 web sales by 60%
  5. ^ Executing the basics helps Cymax Stores go head to head with bigger rivals
  6. ^ "Cymax Stores web sales up despite the housing downturn". Digital Commerce 360. 2008-07-09. Retrieved 2017-08-17.
  7. ^ The Top 500 List – Internet Retailer Magazine

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