- Integrated commerce-marketplace-OMS platform VTEX announced it raised $225 million in a Series D round of funding. With this funding round the company is now valued at about $1.7 billion.
Integrated commerce-marketplace-OMS platform VTEX announced it raised $225 million in a Series D round of funding. The funding was provided by Tiger Global, Lone Pine Capital, Constellation, Endeavour Catalyst, and SoftBank. Including this funding round, VTEX has raised a total funding of $365 million in the last 10 months and the company is now valued at about $1.7 billion.
VTEX’s collaborative commerce platform — which uniquely integrates digital commerce, native marketplace and order management capabilities — has seen 98% growth in platform adoption during the pandemic. And VTEX now powers more than 3,000 online storefronts for global brands like AB InBev, Motorola, Stanley Black & Decker, Sony, Walmart, Whirlpool, Coca-Cola and Nestlé.
VTEX will use the funding from the latest round to make acquisitions, hire additional talent, innovate its platform and accelerate growth in U.S., European and Asia-Pacific markets.
The funding round comes amid a high growth year for VTEX — which has grown profitably over the last decade and expects to close 2020 with a 114% increase in year-over-year growth and a record $8 billion in gross merchandise volume (GMV).
The company has crossed several milestones over the last year, including 1.) raising a $140 million Series C funding round led by Softbank 2.) adding more than 1,000 new customers that went live on VTEX and 3.) adding over 100 developers to keep growing R&D and product capabilities.
KEY QUOTES:
“We are excited to grow quickly in new and existing markets, and offer even more brands a platform that embraces the future of commerce, which is about being collaborative, leveraging marketplaces, and delivering customer experiences that are second-to-none. This injection of funding will undoubtedly support us in achieving our mission to accelerate digital commerce transformation around the world.”
— Mariano Gomide de Faria, VTEX co-founder and co-CEO
“We are proud of the VTEX team for having built a next-generation commerce platform that is now present in more than 40 countries, and we are grateful to our customers for trusting us to help them grow business and serve their customers, especially in unprecedented times,” said
— Geraldo Thomaz, VTEX co-founder and co-CEO
“The pandemic is challenging brands in unprecedented ways, and this funding will help us bring our collaborative commerce platform to more brands so they can achieve rapid time-to-revenue despite the challenges they face now and in the future. It’s exciting to see both B2B and B2C sellers across the globe finding success with collaborative commerce in ways they didn’t think possible.”
— Amit Shah, Chief Strategy Officer and U.S. General Manager at VTEX
