Total amount raised
$224.2 Millions
Latest funding date
04/01/2018
Location
BigCommerce has successfully raised significant funding over multiple rounds, with the latest being a Series F. The platform offers a flexible, professional-grade ecommerce solution designed to scale with businesses of all sizes.
Keep reading to explore the intricacies of BigCommerce's fundraising journey and the investors backing this innovative platform.
What Is BigCommerce?
BigCommerce, founded in 2009 by Eddie Machaalani and Mitchell Harper, is headquartered in Austin, Texas. The company provides a cloud-based e-commerce platform designed to help businesses grow online with enterprise functionality and an open architecture.
BigCommerce serves over 60,000 brands, including well-known names like Sony and Toyota, offering solutions for both B2B and B2C markets. The platform is known for its flexibility, allowing businesses to customize their online stores and integrate with various third-party applications.
With a workforce of 1001-5000 employees, BigCommerce continues to innovate in the e-commerce space, providing tools that reduce the cost, time, and complexity of running an online business.
How Much Funding Has BigCommerce Raised?
- Series A
- Amount Raised: $15M
- Date: August 2011
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series B
- Amount Raised: $20M
- Date: September 2012
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve product offerings.
- Series C
- Amount Raised: $40M
- Date: July 2013
- Lead Investors: Revolution
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and invest in new technologies.
- Series D
- Amount Raised: $55M
- Date: November 2014
- Lead Investors: Notable Capital, SoftBank Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand internationally and enhance platform features.
- Convertible Note
- Amount Raised: $204.4K
- Date: May 2015
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operational needs.
- Series E
- Amount Raised: $30M
- Date: May 2016
- Lead Investors: Notable Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market presence and develop new features.
- Series F
- Amount Raised: $64M
- Date: April 2018
- Lead Investors: Goldman Sachs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand internationally, particularly in Europe, and enhance cross-platform opportunities.
BigCommerce has raised a total of $224.2M. The current valuation is Not publicly disclosed.
Key Investors
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm. Founded in 1869, it is headquartered in New York City.
- Investment Focus Areas: Financial services, investment banking, securities, investment management.
- Notable Investments: Uber, Spotify, WeWork, Airbnb.
- Notable Capital
- Details: Notable Capital is a venture capital firm that invests in early-stage and growth-stage companies. It focuses on innovative technology and disruptive business models.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Not publicly disclosed.
- SoftBank Capital
- Details: SoftBank Capital is a venture capital firm affiliated with SoftBank Group, a Japanese multinational conglomerate. It invests in technology companies globally.
- Investment Focus Areas: Technology, telecommunications, internet services.
- Notable Investments: Alibaba, Yahoo Japan, WeWork.
- Revolution
- Details: Revolution is a venture capital firm founded by Steve Case, co-founder of AOL. It focuses on investing in companies outside of traditional tech hubs.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Sweetgreen, DraftKings, Zipline.
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in early-stage and growth-stage technology companies. It was founded in 2000 and is based in Cambridge, Massachusetts.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Airbnb, Stripe, Snap Inc., Warby Parker.
What's Next for BigCommerce?
BigCommerce is poised to capitalize on several significant opportunities, particularly in international markets like Europe. The integration with social media platforms such as Instagram and partnerships with major companies like PayPal and Google offer substantial growth potential. With the e-commerce market being a "huge category," BigCommerce targets brands with revenues between $1 million and $50 million, approaching $100 million in annualized revenue.
Future fundraising opportunities are likely, with the potential for an IPO on the horizon. This could attract significant investor interest, given the high demand for e-commerce platforms. However, BigCommerce will face challenges such as competition from Shopify and Salesforce's Demandware, managing rapid growth, and maintaining a unique value proposition in a crowded market.
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