Groupon says its focus is on the bottom line, rather than top-line growth.
AOL co-founder Steve Case joins the board as his venture capital fund provides the funds.
E-commerce platform provider Bigcommerce Pty. Ltd. has raised $40 million from investment firm Revolution Growth, it announced today. The investment is the company’s largest funding round to date. Revolution’s founder Steve Case, the co-founder of AOL, will join Bigcommerce’s board, it says.
“The new investment capital and partnership with Steve Case and Revolution Growth will allow us to improve our technology, hire new employees and take a leadership role in the e-commerce revolution,” says Bigcommerce co-founder and co-CEO Mitchell Harper. The company will also use the funds to expand internationally and in new e-commerce categories, it says.
Bigcommerce provides an Internet-hosted e-commerce platform that starts at $25 per month. It also offers consulting services to help novice e-retailers get started with the technology, and a marketplace of feature extensions that customers may purchase and add to their platforms at will.
“Bigcommerce is a big idea that aligns perfectly with Revolution Growth’s philosophy: that technology can enable any entrepreneur, in any industry, located anywhere, to build a successful, high-growth business,” Case says.
The company’s corporate headquarters and engineering teams are based in Sydney, Australia. Its sales, marketing and support teams are based in Austin, TX.