China is one of more than 20 countries to which Newegg plans to expand its marketplace in 2017.
The vendor enables online merchants to sell both on their own web sites and on social networks like Facebook.
E-commerce platform vendor Ecwid has raised $5 million in a Series B funding round.
ITech Capital led the round and Runa Capital, which provided Ecwid’s Series A funding, also participated.
Ecwid began as a platform that enabled retailers to sell via their web sites before evolving into a platform that also lets merchants sell via Facebook and other social networks.
The vendor’s revenue grew 110% last year compared to 2012 and the gross merchandise value of items sold via Ecwid-powered storefronts was more than $250 million, says Jim O’Hara, Ecwid’s president.
Ecwid offers retailers a free basic platform to sell on Facebook and other sites, as well as premium options that cost as much as $82.50 a month that include features such as advanced inventory management tools.
The vendor plans to use its latest funding round to develop tools to enable merchants to converge their offline and online sales via Ecwid’s point-of-sale and mobile POS integrations. That will let retailers “sell their products anywhere at any time, offline or online and from any device,” O’Hara says.
Ecwid says roughly 500,000 merchants around the world use its platform and about 60% of those have made a sale in the past month. Roughly 40% of the vendor’s retailers are based in the United States. Ecwid picked up 200,000 customers from competitor Payvment when it was purchased in 2013.
Ecwid has raised $6.5 million to date.