BigCommerce said April 25 that it raised $64 million in growth equity funding led by Goldman Sachs. Also participating were current investors General Catalyst, GGV Capital and Tenaya Capital. BigCommerce, of Austin, is an ecommerce platform for fast-growing and established brands.
AUSTIN, Texas–(BUSINESS WIRE)–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 Instagramfor 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 Managerand 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.”
BigCommerce is the world’s largest cloud ecommerce platform for established and rapidly-growing businesses. Combining enterprise functionality, an open architecture and app ecosystem, and market-leading performance, BigCommerce enables businesses to grow online sales with 80% less cost, time and complexity than on-premise software. BigCommerce powers B2B and B2C ecommerce for more than 60,000 brands, 2,000+ mid-market businesses, 30 Fortune 1000 companies and industry-leading brands, including Assurant, Ben & Jerry’s, Paul Mitchell, Skullcandy, Sony and Toyota. For more information, visit www.bigcommerce.com.
BigCommerce® is a registered trademark of BigCommerce Pty. Ltd. Third-party trademarks and service marks are the property of their respective owners.
About Goldman Sachs Private Capital Investing
Private Capital Investing (“PCI”) is Goldman Sachs’ investment platform dedicated to providing junior capital to growth and middle market companies throughout North America. PCI invests $20 million – $150 million per transaction in the form of common, preferred, and structured equity.