Drupal eCommerce Company Receives $5 Million in Funding
Commerce Guys, the company behind leading eCommerce solution Drupal Commerce, announces receiving $5 million in venture funding. The round represents Series A funding for the company and was led by Paris-based investment firm Alven Capital, one of the most active funds for eCommerce in Europe. Finland-based Open Ocean Capital, a venture capital firm known for its partners' success in founding MySQL AB and expertise in open-source technologies, and Paris-based ISAI, the French entrepreneur's fund, also contributed to the round.
"We are very excited to be supported by Alven Capital, Open Ocean and ISAI in taking Commerce Guys to the next level," said Mike O'Connor, co-founder and president of North America, Commerce Guys. "The funds will propel our efforts to expand the Drupal Commerce technology and ecosystem, and allow us to focus on providing solutions to both global and emerging eCommerce companies."
(CC-BY Pedro Cambra)
With the new funding and ongoing growth, Commerce Guys anticipates adding 30 key staff members in the coming months, half of them in their Michigan-based North American headquarters. The company currently has 37 employees split between the United States and its European headquarters in Paris.
With this Series A round, Commerce Guys has received a total of $6 million in funding; ISAI provided an initial seed round in 2010.
Drupal Commerce, created by Commerce Guys, is an open-source framework now in use in over 10,000 websites worldwide. Known for its unprecedented flexibility, scalability and security for conducting modern eCommerce, Drupal Commerce offers a range of capabilities, including the ability to upload catalogs of merchandise, accept payments online, integrate with shipping services and interact with customers. Through Drupal Commerce, online retailers have a leading-edge solution for complex product, content, community and context management.
"We understand the power of open-source as a strategic, long-term and robust technology solution," said Tom Henriksson, partner, Open Ocean and Commerce Guys strategic committee member. "We believe that Drupal Commerce is positioned to be a leading solution in the eCommerce software industry. We are excited to support Commerce Guys in developing a rapidly scalable business rooted in the vibrant open-source Drupal community."
Commerce Guys offers online retailers a range of services and support to fully leverage and customize Drupal for eCommerce.