Total amount raised
$308.1 Millions
Latest funding date
09/01/2021
Location
commercetools has successfully raised funds through multiple rounds, with the last funding round being a Series C. The company is backed by nine investors, including notable names like Accel and Rewe Group.
Keep reading to explore the intricacies of commercetools' fundraising journey and the investors backing this innovative platform.
What Is commercetools?
Founded in 2006 by Denis Werner and Dirk Hoerig, commercetools is headquartered in München, Bayern, Germany. The company is a global leader in composable commerce, providing a cloud-native, component-based platform for digital commerce.
commercetools offers a versatile commerce platform that supports B2C, B2B, and in-store commerce, along with various customer experience and integration solutions. Their platform is designed to enable enterprise businesses to grow and scale with freedom and flexibility.
With a workforce of 501-1000 employees, commercetools serves major brands including Audi, Danone, Eurorail, NBCUniversal, Sephora, and Volkswagen Group.
How Much Funding Has commercetools Raised?
- Seed Round
- Amount Raised: $834K
- Date: September 2006
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial product offerings.
- Series A
- Amount Raised: €3.6M
- Date: October 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Corporate Round
- Amount Raised: $17M
- Date: September 2018
- Lead Investors: Rewe Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's capabilities and expand market reach.
- Venture Round
- Amount Raised: $145M
- Date: October 2019
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Funding Round
- Amount Raised: Not publicly disclosed
- Date: May 2021
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and innovation.
- Series C
- Amount Raised: $140M
- Date: September 2021
- Lead Investors: Accel
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To fuel global expansion and enhance the product portfolio.
Total Amount Raised: $302.8M
Current Valuation: Over $1 billion
Key Investors
- Accel
- Details: Accel is a global venture capital firm that has been investing in technology companies for over 35 years. They have a strong track record of backing successful startups and helping them scale.
- Investment Focus Areas: Technology companies, software, ecommerce, digital platforms.
- Notable Investments: Atlassian, UiPath, Spotify.
- Insight Partners
- Details: Insight Partners is a leading global private equity and venture capital firm. They focus on high-growth technology and software companies.
- Investment Focus Areas: High-growth technology, software companies.
- Notable Investments: Twitter, Shopify, DocuSign.
- Rewe Group
- Details: Rewe Group is a major European retail and tourism group. They are known for their extensive network of supermarkets and travel agencies.
- Investment Focus Areas: Retail, tourism, innovative technologies.
- Notable Investments: Not publicly disclosed.
What's Next for commercetools?
The future for commercetools looks promising as they aim to capitalize on the growing global ecommerce market. With a recent $140 million Series C funding round, the company plans to expand its presence in North America, Europe, and APAC. This expansion will be supported by enhancing their product portfolio and extending their partner ecosystem, which could lead to significant revenue growth.
Given the successful Series C round, commercetools is well-positioned for future fundraising opportunities. The shift towards headless commerce and API-first approaches presents a substantial market opportunity. However, the company may face challenges such as competition from legacy platforms and the need to maintain rapid growth while ensuring seamless technology integrations.
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