BigCommerce Closes Oversubscribed $60+ Million Round of New Growth Equity Funding Led by Goldman Sachs
Funding to accelerate product roadmap, growth initiatives, international expansion
Austin, TEXAS – April 25, 2018 – BigCommerce, the leading ecommerce platform for fast-growing and established brands, today announced that it has closed $64 million in growth equity funding, led by Goldman Sachs, with participation from current investors General Catalyst, GGV Capital and Tenaya Capital. With the new funding, BigCommerce has now raised over $200 million.
Since being founded in 2009, BigCommerce has grown to become the industry’s most popular and fastest-growing SaaS ecommerce platform serving Internet Retailer Top 1000 brands. Today, more than 60,000 merchants across 120 countries are powered by the BigCommerce platform, including 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.
“Our mission is to help every business selling online maximize success through the benefits of SaaS,” said Brent Bellm, CEO for 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.”
“We are excited to partner with Brent and the BigCommerce team," said Holger Staude, Vice President Private Capital Investing at Goldman Sachs. "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.”
The funding follows several recent company milestones, including new and expanded strategic partnerships with leading commerce and technology platforms such as Amazon, eBay, Facebook, Google, Instagram, Square and PayPal. Highlights include:
In March, BigCommerce expanded its collaboration with Instagram to enable shopping on Instagram for more than 60,000 BigCommerce brands around the world.
In January, the company entered into a strategic partnership with Handshake, enhancing support for B2B brands selling online.
Earlier this year, BigCommerce became the first ecommerce platform to natively support Akamai Image Manager and Google’s Accelerated Mobile Pages (AMP), providing merchants powerful tools to improve mobile performance and conversion at no additional cost.
“The overwhelming interest we received for this round further validates our belief that the future of ecommerce is powered by SaaS,” said Russell Klein, Chief Development Officer for BigCommerce. “We look forward to leveraging Goldman Sachs' considerable resources and expertise.”