Total amount raised
$308.1 Million
Latest funding date
09/01/2021
Location
commercetools has successfully navigated 6 funding rounds, attracting investment from notable backers such as Accel and Rewe Group. The company is recognized as a global market leader in composable commerce, offering an AI-first digital commerce platform designed for enterprise growth.
Keep reading to explore the intricacies of commercetools' fundraising journey and the investors backing this innovative platform.
What Is commercetools?
commercetools, founded in München, Bayern, Germany, is a global leader in composable commerce. The company operates in various industries, including Cloud Computing, E-Commerce, Information Technology, and SaaS. It has between 501 and 1000 employees.
As an AI-first digital commerce platform, commercetools is designed for enterprise growth, offering solutions that connect every channel and convert every customer. The platform supports multiple business models, including B2C, B2B, and B2X, and serves industries such as Retail, Healthcare, and Automotive.
How Much Funding Has commercetools Raised?
- Seed Round
- Amount Raised: $834,000
- 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 initial product development.
- Series A
- Amount Raised: $3,600,000
- 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: $17,000,000
- Date: September 2018
- Lead Investors: Rewe Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support market expansion and enhance the platform's capabilities.
- Series Unknown
- Amount Raised: $145,000,000
- Date: October 2019
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and drive international growth.
- Undisclosed Round
- Amount Raised: Not publicly disclosed
- Date: May 2021
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the company's market presence and product offerings.
- Series C
- Amount Raised: $140,000,000
- Date: September 2021
- Lead Investors: Accel
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To accelerate global growth, expand sales and marketing efforts, and extend the product portfolio.
Total Amount Raised: $306,434,000
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 led the $140 million Series C funding round for commercetools.
- Investment Focus Areas: Technology companies globally, all phases of private company growth.
- Notable Investments: Atlassian, Bumble, CrowdStrike.
- Insight Partners
- Details: Insight Partners is a private equity and venture capital firm that participated in multiple funding rounds for commercetools, including the Series C and an undisclosed round.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
- Rewe Group
- Details: Rewe Group is a major European retail and tourism cooperative group. They participated in the corporate round and Series C funding for commercetools.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
What's Next for commercetools?
commercetools is poised for significant growth, with opportunities in global expansion, particularly in North America, Europe, and APAC. The company aims to enhance its product portfolio and extend its partner ecosystem, capitalizing on the rapidly growing global ecommerce market.
Future fundraising opportunities seem promising, given the successful Series C round and the company's growth trajectory. This could further accelerate their expansion and innovation efforts. However, commercetools will need to navigate challenges such as competition from legacy platforms and the need for continuous innovation to stay ahead in a rapidly evolving market.
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