In yet another ecommerce enterprise tech investments, Australia based Bigcommerce, which allows businesses to build and manage e-commerce websites, has raised USD 40 million in funding from US venture fund Revolution Growth, reports Reuters. This would be its third round of funding, previously it had raised USD 15 million in Series A and USD 20 million in Series B, taking total funds raised by it to USD 75 million.
With the funding, Revolution Growth founder and former AOL, CEO Steve Case will also join the company with a minority stake.
The funds raised will be used for improving technology and for hiring in Sydney and Austin, Texas.
Bigcommerce was founded in 2009, it allows businesses to build and manage their ecommerce websites at a cost between USD 25-300 million a month depending upon the type of plan opted.
“Bigcommerce has the potential to level the playing field for small businesses, giving them the same e-commerce tools that big guys like Amazon already have,” said Steve Case.
According to the company website, it has so far processed USD $2,000,428,123 in transactions for its 36,228 store owners and has over 3500 clients. Last year it had launched 30 more apps integrations taking total apps on the platform to more than 100.
Bigcommerce was co-founded by Eddie Machaalani & Mitchell Harper, and its stores exist in 25 different industries and in over 65 countries.Category Internet Investments News