Bigcommerce funding to fuel expansion

 

Online shopping conceptBigcommerce has raised $50 million in Series D funding, with the e-commerce platform to use the funds to invest in product development, expand sales and marketing, and fuel international expansion.

The financing was led by SoftBank Capital, a venture firm affiliated with SoftBank Corp, and included Telstra Ventures and American Express, as well as existing investors General Catalyst and Revolution Growth.

This latest round of funding adds to the $75 million raised to date, taking total funding to $125 million.

Steve Murray, a partner at SoftBank Capital, will join the Bigcommerce board.

“Bigcommerce’s easy to use, cloud-based platform allows businesses of all sizes to rapidly build and deploy full-service ecommerce and m-commerce tools to grow revenues,” said Murray.

According to Bigcommerce research, e-commerce as a segment of the total retail market is growing at 30 per cent per year and is expected to reach $2 trillion in sales worldwide in 2015.

The platform has seen significant year on year revenue growth and is approaching $5 billion in total online sales across merchants.

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