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E-commerce platform provider Shopify raises $15 million
The company plans to hire developers and designers and buy other firms.
Shopify said today it has raised $15 million in a new funding round, the company’s second. In December, Shopify, which creates online retail stores for companies, raised $7 million in an initial funding round.
Shopifly will use the capital to hire developers and designers, buy other companies and develop e-commerce technology that integrates with the Shopify platform, says CEO Tobias Lütke. Part of the investment will go to launching the “The Shopify Fund,” a $1 million pot designed to encourage developers to build add-ons to the Shopify platform; about 100 ad-ons already exist. “This large investment will allow us to aggressively expand operations,” Lütke says.
The recent investment came from Bessemer Venture Partners, FirstMark Capital, Felicis Ventures—all of which took part in last year’s funding round—and Georgian Partners.
“The overwhelming majority of businesses are not yet selling online because the tools available have historically been complex and expensive,” says Trevor Oelschig, a vice president for Bessemer. “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.”
Shopify says it supports 15,000 online stores in 80 countries.