Munich-based commercetools has raised $140 million in a Series C funding round. The platform provides headless, API-led technologies to brands around the globe, powering the next-generation of e-commerce environments. The new investment is expected to propel sales and marketing efforts in North America, Europe, and APAC. To date, the startup has raised just shy of $308 million.
With the pandemic flipping just about everything we know about commerce on its head, brands needed to react within days to a wide variety of situations including supply chain issues, brick-and-mortar stores all but history, and ultimately, how the brand/consumer relationship would pan out. Those that were operating on legacy systems lacked the speed and agility to quickly shift to these new market demands.
commercetools counts AT&T, Audi, John Lewis, The LEGO Group, Takeaway.com and Volkswagen amongst its client base, and employs over 300 individuals in offices across the US, Europe, and Asia Pacific region.
“We are singularly focused on providing all the tools and building blocks our customers need to deliver outstanding shopping experiences and innovation to consumers. This latest funding round will further accelerate our growth towards this target,” commented CEO and founder Dirk Hoerig.
The Series C funding round was led by industry stalwart Accel and saw participation from existing investors Insight Partners and REWE Group.
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