VTEX, a marketplace-first commerce provider that enables brands to unlock opportunities for digital growth, has announced an expansion in its commerce capabilities and U.S. leadership team. The company stated that the decision to expand is in response to “strong demand from large B2C retailers and enterprise B2B brands in the U.S. market.
The expansion follows a $140 million investment from Softbank in 2019. VTEX has recently opened its new U.S. headquarters in Manhattan.
Members of the VTEX leadership team in the U.S. include Alex Soncini, VTEX co-founder, Joseph Lee, chief revenue officer, Ana Milevskaja, vice president of marketing, Tim Schulz, chief product officer, and Kevin Yee, vice president solution engineering. The U.S. team will support clients including Motorola and Stanley Black & Decker.
VTEX’s marketplace supports retailers and B2B brands through new revenue streams in digital commerce operations to companies that are planning growth by launching individual marketplaces. Currently, VTEX counts over 160 clients already using these marketplace offerings. Additionally, through an approach that VTEX calls “collaborative commerce,” an effect that yields sales growth for marketplace operators and sellers, the company has built an ecosystem of marketplaces that allows sellers to cross-sell products in noncompeting VTEX marketplaces.
“Because our solutions allow companies to scale quickly, deliver the fastest time-to-revenue and never experience painful software updates, we’re seeing many retailers leave their legacy platforms for our end-to-end offering,” said Amit Shah, VTEX U.S. general manager and chief strategy officer. “Now we’re creating a collaborative commerce framework that supports rapid growth of marketplace operators and sellers, even in a challenging and rapidly-changing economy. Our marketplace capability and the technologies we offer are just some of the reasons US B2B brands are asking us to help expand their operations.”
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