BigCommerce close $20 million Series B Funding
Founded by Sydney-siders Eddie Machaalani and Mitchell Harper in September 2009, BigCommerce has become the fastest-growing e-commerce platform in the world, with more than 1,000 businesses signing up each week.
SMB Owners want to sell everywhere, and with their social media integration as well as integration with hundreds of other applications – Big Commerce is more and more the number one choice.The guys love and hard word has certainly paid off. Through BigCommerce, retailers have processed over $600 million in total sales, with $150 million in just the first two months of 2012, fast approaching the $1 billion mark. In less than three years, BigCommerce has helped online business owners sell more than 30 million products globally.
Yesterday they confirmed they had closed $20 million in B Series funding -led by existing investors General Catalyst Partners and joined by new strategic investor, Mike Maples of FLOODGATE, bringing the company’s total venture capital funding to $35 million.
“E-commerce is already booming and we’re really focusing on how to help our clients sell more while leveraging affordable online channels that drive qualified traffic,” said Eddie Machaalani, co-founder of Bigcommerce. “Small and medium businesses shouldn’t need a degree in design and web development to run a successful online store. They want it to be easy and intuitive. We’re radically simplifying the e-commerce experience, enabling the small business not just to compete with larger competitors, but win.”
“We’re building a global commerce platform for millions of small and medium businesses looking to generate more revenue,” added Mitchell Harper, co-founder of Bigcommerce. “Whether you want to setup an online store, accept payments, launch a mobile commerce campaign or tie all of your systems together, you can do that with our platform. Our product and engineering teams are based here in Sydney and we’re committed to being the driving force behind the huge growth of e-commerce locally. It’s great to see e-commerce finally taking off in our own backyard.”
The round will fund accelerated product development for Bigcommerce as well as significant expansion of the sales and marketing teams. Bigcommerce has already doubled its global employee base in 2012 and plans to increase headcount by 70 percent over the next two years.
In addition to the VC funding news, Bigcommerce today revealed a significant brand overhaul in a move to ‘consumerize’ business software. The redesign includes a new Web site, app store and a fresh new look for the product with simpler design features. The brand overhaul also includes a new company logo and tagline, ‘Sell More’. This core message defines what Bigcommerce is all about – helping small and medium-sized businesses in Australia sell more and take advantage of the boom in e-commerce.