By  on April 25, 2018

BigCommerce’s bank account just got a whole lot bigger.The e-commerce platform closed a $64 million funding round led by Goldman Sachs, with investors General Catalyst, GGV Capital and Tenaya Capital also adding to the kitty.The new money brings the nine-year-old firm’s total funding to more than $200 million.BigCommerce has processed more than $17 billion in sales from more than 60,000 merchants, such as Paul Mitchell, Skullcandy and Ben & Jerry’s, helping those brand manage their web site, sales component and operations.To extend its reach, BigCommerce has been building strategic partnerships with other commerce and tech companies, including Amazon, eBay, Facebook, Google, Square and PayPal. Last month, BigCommerce linked up with Instagram, opening the door for 60,000 of its merchants to sell on the social sharing platform.“Our mission is to help every business selling online maximize success through the benefits of SaaS,” said Brent Bellm, chief executive officer of BigCommerce. “E-commerce 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.”Russell Klein, chief development officer, added, “The overwhelming interest we received for this round further validates our belief that the future of e-commerce is powered by SaaS.”SaaS stands for Software as a Service, a process that allows merchants to basically rent digital capabilities that are managed through the cloud.The significant size of fund-raising round shows the continuing interest in e-commerce even as giants such as Amazon and Walmart duke it out online — and elsewhere — for consumer supremacy.More from WWD: 

To continue reading this article...

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus