Friday, October 28, 2011

Ecommerce Platform Shopify Announces $15 Million Series B Funding

Shopify, a leading ecommerce platform used to create and power online stores, today announced that it closed a $15 million Series B growth investment from Bessemer Venture Partners, FirstMark Capital, Felicis Ventures, and Georgian Partners. This new investment adds to the $7 million of Series A funding received last year, providing a sizable balance to fund continued growth.

Tobias Lutke, Shopify's CEO and co-founder, launched the company in 2006 after he discovered how difficult it was to create a professional online store. Today, over 15,000 active online stores in 80 countries are powered by Shopify. Individuals, entrepreneurs, and businesses use Shopify to setup and power their online stores. Shopify's product is known for its focus on ease of use, beautiful store designs, and scalability.

"The overwhelming majority of businesses are not yet selling online because the tools available have historically been complex and expensive," said Bessemer Venture Partners' Trevor Oelschig. "Shopify is working to change this by building beautiful products that are easy for businesses to use. Shopify's rapid growth and customer success speaks to the power of Shopify's platform and we are excited to be involved as they continue to expand."

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