BigCommerce, the fastest growing e-commerce platform in the world with almost 20,000 clients, today announced the closing of a $15 Million Series A investment from General Catalyst Partners. In addition, Larry Bohn, managing director at General Catalyst, has joined the BigCommerce board. The funds will be used to rapidly expand the company’s headcount in both Sydney and Austin, Texas, including additions to the senior management team, accelerate the introduction of enterprise-level features to small business customers and increase distribution of the product platform.
BigCommerce’s organic growth to date has been astonishing, especially when you consider the company has been bootstrapped with no outside funding or debt. “Our platform has been used to launch almost 20,000 successful online stores in the last two years, making it the fastest growing e-commerce platform in the world,” said Eddie Machaalani, co-founder and co-CEO of BigCommerce. “Based on our growth, the market opportunity and increase in the number of small businesses being started, it made sense for us to raise capital now and take advantage of the market’s potential.”
With this investment, the company aims to build on a number of recent achievements including:
Becoming the fastest growing e-commerce platform for SMBs in the world, and the 44th fastest growing software company in the United States.
- Increasing its client count 680% year-over-year
- Adding well over 1,000 new paying clients every month
- Approaching 20,000 paying clients and $200 million in total transactions
- Opening a new Austin office, more than triple the size of the company’s former office
- Hiring dozens of employees on a track to double in size by the end of 2011
“We’ve proven BigCommerce can scale and we’ve proven the model. Now it’s time to expand our platform so we can help businesses take advantage of innovations around online retailing, mobile and social commerce,” added Mitchell Harper, co-founder and co-CEO of BigCommerce. “The way people buy is changing, and it’s no longer just about having your own online store. Small business owners want to sell everywhere their customers are which includes Facebook, eBay, and mobile devices. BigCommerce gives them the tools they need to do just that.”
“BigCommerce’s organic growth to date has been astonishing, especially when you consider the company has been bootstrapped with no outside funding or debt,” said Bohn. “Mitch and Eddie are visionaries who understand the e-commerce space at an extremely detailed level. The innovation in the product, the amazing feedback from clients and the fantastic teams in Sydney and Austin all make for a company poised to be the leader in this space. We’re proud to be associated with the company and look forward to helping them towards their unlimited growth opportunities.”
