Bigcommerce New Branding - Through The Tech Lens. BigCommerce raises $30 million as it eyes mid-market expansion. BigCommerce said Tuesday it has secured $30 million in fresh funding in a round led by GGV Capital -- a Silicon Valley investment firm behind the likes of Alibaba, Houzz, Square, Slack and Domo.
The e-commerce SaaS provider, which was founded in Sydney in 2009, plans to use the latest raise to push further into the mid-market, which in retail speak refers to higher volume brands pulling in a range of $100 million to $150 million in online sales. Mid-market sized retailers have become a greater focus for BigCommerce since CEO Brent Bellm took over last year. Unlike the SMB retail market, where e-commerce requirements can be less complex, mid-market retailers demand omnichannel technology that goes beyond basic storefront design. "We do not position ourselves as the cheapest and easiest way to get online," Bellm said in an interview.
"We position as the best platform for fast growing and dedicated e-commerce. " BigCommerce raises $30 million and is likely to stay private. CEO Brent Bellm says BigCommerce’s latest funding round will help the e-commerce platform provider target midmarket e-retailers.
E-commerce platform provider BigCommerce has raised $30 million that it plans to plow into products and expanding its base with midmarket retailers. Investment firm GGV Capital led the Series E funding round, which was announced Tuesday. CEO Brent Bellm, who took over BigCommerce 11 months ago, says the company will use the money to reinvest in products as it targets midmarket retailers, those that sell between $1 million and $50 million per year online. The New BigCommerce Community is Here. Facebook Shop Now Available for All BigCommerce Businesses. The Future of Express Checkout: In-Context Checkout and One Touch™ Now Live on Tens of Thousands of Online Stores - The BigCommerce Blog.
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