BigCommerce secures US$30million in funding
E-commerce platform, Big Commerce, this week closed a $30 million round of funding led by GGV Capital with participation from existing investors including General Catalyst, Revolution Growth, SoftBank Capital, Tenaya, Split Rock, Telstra Ventures and American Express Ventures.
The funds will be used to continue the company’s global expansion and develop products to capitalise on the growth in e-commerce.
“BigCommerce is benefitting from the retail industry shifting online, with every small, mid-sized and large merchant in the world seeking to gain a piece of the $1 trillion e-commerce market,” said Brent Bellm, CEO of BigCommerce.
“This new financing follows on the successful launch of several new products, our partnerships with major players in e-commerce like eBay and Square, and our successful expansion into the midmarket.”
GGV Capital is a Silicon Valley and China-based investment firm with a major focus on both software and e-commerce, having also backed companies like Alibaba, Houzz, Square, Slack and Domo.
Managing partner at GGV Capital, Jeff Richards, will join the BigCommerce board of directors. The round also included participation from all existing investors, including Stephan Schambach, founder and former chairman of Demandware.
“We believe we are still in the early innings of a massive global shift from offline to online retail, with mobile and younger demographics driving the trend,” said Jeff Richards. “BigCommerce and its competitors have brought hundreds of thousands of merchants online in the past few years, but there are millions left to come online – and today’s shopper shops online first.”