Basis Vectors buys SaaS firm CommerceV3

• Founded in 2002, CommerceV3 provides ecommerce software and marketing services for hundreds of middle-market customers in the food and gift segments
• Basis Vectors acquires B2B SaaS companies in North America that have revenues in range of $1 million and $10 million
• CV3 was founded in 2002

Basis Vectors has acquired CommerceV3, a cloud platform for high volume digital commerce. No financial terms were disclosed.

CommerceV3 co-founders Blake Ellis and Nathan Focht will continue to run the day-to-day operations of the business.

Founded in 2002, CommerceV3 provides ecommerce software and marketing services for hundreds of middle-market customers in the food and gift segments.

Ambarish Gupta, founder and CEO of Basis Vectors, said in a statement: “We’re pleased to announce this acquisition and look forward to partnering with management to build on Commerce V3’s strong foundation, driving growth organically and through strategic acquisitions. The company is well positioned for further growth, especially given the robust size of the market for ecommerce software at $8 billion and growing.“

Basis Vectors acquires B2B SaaS companies in North America that have revenues in range of $1 million and $10 million. Basis Vectors is headquartered in New York and has offices in Silicon Valley, India and Ukraine.