- Leading e-commerce platform VTEX announced it raised $140 million in funding
VTEX — a leading e-commerce platform serving brands and retailers in 28 countries — announced it raised $140 million in funding from SoftBank’s Latin America fund with participation from Gávea Investimentos and Constellation Asset Management. And the investment will support VTEX’s continued global expansion and advancements to its cloud commerce offerings.
“For the past four years, we’ve focused on building a platform that enables global commerce by unifying our clients’ operations online and offline,” said Mariano Gomide, co-founder and co-CEO of VTEX. “During that time, we’ve opened US and EU offices and strengthened our position in Latin America. This investment from SoftBank and its partners validates our dedication to delivering a scalable, secure, global unified commerce platform.”
And with a compounding organic growth of 43% per year in the last five years, VTEX has become one of the largest global players in the Digital Commerce market. Based in London, VTEX acquired UniteU at the beginning of 2019. UniteU is an e-commerce platform based in the US.
“Acquiring UniteU was only the first step of a responsible and consistent expansion of VTEX in the US. We have big plans to accelerate our continued global growth and product innovation,” said Gomide.
VTEX is known for providing commerce solutions to 2,500 global brands, including Levi’s, Sony, Walmart, L’Oréal and Motorola. And the company’s innovations include a patent-pending passwordless checkout called SmartCheckout, an architectural network of microservices to seamlessly deliver continuous updates.
“Becoming the global power in unified commerce platforms for medium and large companies is our goal,” added VTEX co-founder and co-CEO Geraldo Thomaz. “With this investment, we will be able to invest more in R&D, respond to market demands faster, and deliver a more robust product that leverages AI to take us into the future of commerce.”
VTEX’s IO serverless development framework that enables clients to develop scalable, production-ready web applications for global commerce without infrastructure complexity.
“VTEX has three attributes that we believe will fuel the company’s success: a strong team culture, a best-in-class product and entrepreneurs with a profitability mindset,” explained Paulo Passoni, managing investment partner at SoftBank’s Latin America fund. “Brands and retailers want reliability and the ability to test their own innovations. VTEX offers both, filling a gap in the market. With VTEX, companies get access to a proven, cloud-native platform with the flexibility to test add-ons in the same data layer.”