Investments

BigCommerce Raises $64M Led By Goldman Sachs

BigCommerce, the eCommerce platform for retailing brands, announced news on Wednesday (April 25) that it has closed a $64 million round of funding.

In a press release, the company said the fundraising round was led by Goldman Sachs and included participation from current investors General Catalyst, GGV Capital and Tenaya Capital. With the new funding, BigCommerce said it has now raised over $200 million.

“Our mission is to help every business selling online maximize success through the benefits of SaaS,” said Brent Bellm, CEO of BigCommerce. “eCommerce is constantly evolving, and brands need technologies that allow them to stay current and competitive. With this funding, we will continue investing aggressively in our platform, technology and team to serve customers’ needs at every phase of their growth.”

Since its inception in 2009, BigCommerce has become one of the most popular brands in the industry and among the fastest-growing, Software-as-a-Service eCommerce platforms serving the online retail industry, it said in the press release. Currently, more than 60,000 merchants across 120 countries use BigCommerce’s platform, such as Avery Dennison, Ben & Jerry’s, Gibson, Paul Mitchell, Sharp, Skullcandy and Sony. To date, merchants selling on the BigCommerce platform have processed more than $17 billion in sales, the company said in the press release.

“We are excited to partner with Brent and the BigCommerce team,” said Holger Staude, VP of Private Capital Investing at Goldman Sachs, in the same press release. “BigCommerce is an acknowledged leader in SaaS eCommerce for the mid-market, and given its track record and scale, we see tremendous opportunity for continued growth.”

BigCommerce noted that the latest round of funding comes amid several milestones, such as new and expanded partnerships with Amazon, eBay, Facebook, Google, Instagram, Square and PayPal. For example, in March the company said it expanded its collaboration with Instagram to enable shopping on the social media platform.

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