For Jack Ma, executive chairman of Alibaba Group Holdings, today is an extremely busy and lucrative day because the company he founded 15 years ...
The e-commerce platform provider will boost U.S. operations and grow globally.
Group Commerce Inc., which provides a platform for media companies and online publishers to engage in e-commerce, announced this week it had raised $21 million in its latest funding round, bringing its total funding to date to $40 million. Group Commerce launched in 2010.
Investors include Jafco Ventures, and returning investors Spark Capital, Carmel Ventures and others, Group Commerce says.
Group Commerce says it will use the money to support its U.S. clients, develop its e-commerce technology and speed the platform’s rollout to companies in Europe. Existing clients include Boston.com, the online arm of The Boston Globe newspaper, online fashion and entertainment news source DailyCandy and The New York Times.
The vendor says it has generated a 30% increase in revenue on a month-to-month basis over the last 12 months. Last year, Group Commerce acquired the Australian daily-deal technology provider Dealised.
"It is immensely gratifying to see the traction that Group Commerce has developed in the marketplace, particularly over the last six months," says Todd Dagres, founder and general partner of Spark Capital.