Once a major home furnishings retailer and now an online-only brand, Linens ‘N Things has a new owner. Before the chain’s 2008 bankruptcy it ...
BigCommerce raises $15 million in its first funding round
The e-commerce platform provider plans a hiring spree.
BigCommerce said today it had raised $15 million from General Catalyst Partners in the e-commerce platform provider’s first funding round. BigCommerce plans to use the money to hire employees, including senior managers, add tools for small businesses and expand product distribution.
“Our platform has been used to launch almost 20,000 successful online stores in the last two years,” says Eddie Machaalani, co-founder and co-CEO of BigCommerce. “Based on our growth, the market opportunity and increase in the number of small businesses being started, it made sense for us to raise capital now and take advantage of the market’s potential.”
BigCommerce says it is increasing its client count by an annual rate of 680% and will double its employee headcount by the end of 2011. A year ago, BigCommerce began offering clients technology and services based on mobile commerce.
Larry Bohn, General Catalyst managing director, has joined the BigCommerce board of directors. “BigCommerce’s organic growth to date has been astonishing, especially when you consider the company has been bootstrapped with no outside funding or debt,” said Bohn.