After making investments in Indian e-commerce companies Housing.com, Ola and Snapdeal, Japanese Corporation Softbank has now led a USD 50 million funding round in Australia based Bigcommerce. Other investors – Telstra Ventures, American Express, as well as existing investors General Catalyst and Revolution Growth also participated in the round. The company has secured funding in series D round that brings Bigcommerce’s total raised so far to USD 125 million.
The company said that, “It will use the funds to invest in product development, aggressively grow sales and marketing, and expand its business to new markets.” As part of the investment, Steve Murray, a partner at SoftBank Capital, will join the Bigcommerce board. Last year, Bigcommerce had raised USD 40 million in funding from US venture fund Revolution Growth.
Bigcommerce was founded in 2009, it allows businesses to build and manage their e-commerce websites at a cost between USD 25-300 million a month depending upon the type of plan opted. The Bigcommerce platform provides small- and medium-sized retailers with everything they need to launch, promote, manage and scale an online store, complete with responsive themes, order processing, analytics, mobile commerce and marketing tools.
Bigcommerce was co-founded by Eddie Machaalani & Mitchell Harper, and it supports more than 55,000 retailers around the world from its offices in San Francisco, Austin and Sydney.
According to Bigcommerce research, the total retail market is growing at 30 percent per year and is expected to reach USD 2 trillion in sales worldwide in 2015. The company has seen significant year-over-year revenue growth and is approaching USD 5 billion in total online sales across merchants.
Bigcommerce recently added several new features to the platform, including Bigcommerce Analytics, the Single Click App Store, one-click payments setup, and a new theme store packed with dozens of new free and premium themes.
Recent Updates: Bigcommerce recently announced the industry’s first open mPOS platform with Lightspeed POS and NCR Silver joining as launch partners to provide merchants with omni-channel solutions for businesses selling both online and in-store.
Also this month, Bigcommerce launched as a founding developer partner with Poynt –a payment terminal targeting the 16M merchants that will be upgrading ahead of the 2015 EMV mandate.
In October, Bigcommerce announced a new partnership with Alibaba.com to streamline product sourcing for merchants. SoftBank Corp. is a one-third owner of Alibaba.
In July, Magento, an eBay Enterprise company, selected Bigcommerce as a SaaS ecommerce migration provider for its ProStores and Magento Go platform discontinuation.
Earlier this year, Bigcommerce partnered with Endurance International Group’s Homestead brand to re-launch 6,700 of their merchants’ online stores.Category Business Investments