BigCommerce, an ecommerce platform, announced Tuesday that it has closed a $30 million round.
GGV Capital led the funding round with participation from existing investors including General Catalyst, Revolution Growth, Softbank Capital, Tenaya, Split Rock, Telstra Ventures and American Express Ventures. BigCommerce, founded in Australia in 2009, has previously raised $125 million. The company has about 350 employees with offices in Austin, San Francisco and Sydney, Australia.
BigCommerce provides software and services for merchants who run businesses online. It’s a $10 billion market, according to Morgan Stanley research. And Garner reports that the “market for cloud ecommerce enablement software and services reached $7.7 billion in 2015, and is expected to grow to $10 billion in 2018,” according to a news release.
“BigCommerce is benefitting from the retail industry shifting online, with every small, mid-sized and large merchant in the world seeking to gain a piece of the $1 trillion ecommerce market,” Brent Bellm, CEO of BigCommerce, said in a news release. “This new financing follows on the successful launch of several new products, our partnerships with major players in ecommerce like eBay and Square, and our successful expansion into the midmarket.”
As a result of the financing deal, managing partner at GGV Capital Jeff Richards will join the BigCommerce board of directors.
“We believe we are still in the early innings of a massive global shift from offline to online retail, with mobile and younger demographics driving the trend,” Richards said in a news release. “BigCommerce and its competitors have brought hundreds of thousands of merchants online in the past few years, but there are millions left to come online – and today’s shopper shops online first.”
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