Cloud-based commerce innovation platform provider Magento said it was just infused with a $250 million investment from Hillhouse Capital.
The financial injection will aim to underscore a strategic growth plan — particularly in Asian markets. Magento will also utilize the funds to bolster its global revenue channels, refresh marketing and client support, develop new products and eye acquisition opportunities.
Hillhouse Capital focuses predominantly on independent proprietary research specifically within consumer, industrial and health-care categories. This investment marks the next stage of confidence in retail and commerce solution platforms as an integral component for businesses as they look to build traction against competition and discern actionable insights for future advancements. Permira, a leading international private equity firm will maintain its majority stake in Magento.
A pioneer in open-commerce innovation, Magento supports over 250,000 clients to date including Kurt Geiger, Burger King, Mara Hoffman and Charlotte Tilbury. It has been recognized as the 2015 Internet Retailer Top 1000, B2B 300 and Europe 500 lists. Collectively, Magento’s clients generate more than $50 billion in annual merchandise volume — and for good reason, it delivers concepts and correlating infrastructure primed for shopper consumption.
Take its collaboration with Mara Hoffman, for example. Supported by Magento gold solution partner One Rockwell, the women’s wear and swimwear line revamped its web site to provide higher engagement with its visitors. Upon its update, the web site offered a glimpse into the life of Mara Hoffman, revealing team-curated shops, exclusive travel photos, runway videos, a mix-and-match bikini mixer and full-page zoom functionality on product pages.
As omnichannel consumer experiences become a mainstay in marketing strategies, digital platforms will need to expand offerings as brands and retailers look beyond big data to detect shifts in customer demands and spending behavior. With recent news that Black Friday and correlating activations saw the largest uptick in mobile spending, retailers must look to platforms to support frictionless transactions and symbiotic user experiences versatile among devices and translatable to brick-and-mortar locations.