VC investor Insight Partners is investing in Commercetools. The Munich-based company offers software for e-commerce companies.
Founded in 2006, the Munich-based company offers its customers a platform through which they can manage their various digital sales channels. The fresh capital will be used to advance its growth plans in the US, Asia-Pacific, and Europe.
“To adapt their commerce to the needs of today’s and tomorrow’s customers, brands, manufacturers and distributors are choosing commerce tools instead of relying on outdated software,”
says Dirk Hoerig, CEO and co-founder of Commercetools.
"To meet this demand, we founded Commercetools and gradually established a successful international presence. Thanks to the investment from Insight Partners, we can further accelerate our growth in the North American and Asia-Pacific markets and expand our success in Europe. The size of this financing brings us a decisive step closer to our goal of becoming a leading global commerce platform."
Over the past 18 months, the company has opened new offices in the UK and Asia-Pacific. Clients include Audi, Bang & Olufsen, Carhartt WIP, and Yamaha.
“Commercetools represents the next generation of enterprise commerce software”
As part of the financing, the Insight Partners managing directors Richard Wells and Matt Gatto the Munich advisory board. Wells says:
"Based on our success in investing in leading software companies, we are excited about the opportunity to invest in Commercetools and support the company's international growth. We believe Commercetools represents the next generation of enterprise commerce software and has the potential to enable fundamental innovation in the e-commerce space and continue to grow."
Gatto adds:
“We look forward to working together and contributing our more than 20 years of software and operations experience to help Commercetools continue to scale.”
In 2014, Rewe Digital took over 100 percent of the Munich-based company and will remain Investment Partner at the software company. Jan Kunath, Member of the Board of Management of the Rewe Group, says:
"Under Rewe Digital, Commercetools has evolved from a startup to a leading company in the enterprise commerce sector over the past five years. With Insight Partners, we have found the best partner to further support Commercetools, together with Rewe Digital, on its path to market leadership."
