Future Fifty cloud software company eCommera closes $41m Series C funding round
Venture firm-backed deal marks one of the largest raises in its category
Global software-as-a-service (SaaS) business eCommera has completed a $41m Series C funding round led by venture capital group Dawn Capital and leading investment firms; West Coast Capital, Frog Capital, ePlanet Capital, WPP, and its latest partner, Wti.
Founded in 2007, eCommera specialises in cloud software which combines big data analytics, commerce and order management platforms to provide a “decision intelligence solution” which enables retailers from across the world to sell across any channel, store or warehouse.
Since its launch, it has attracted 70 major brands and retailers across 32 countries including House of Fraser, Asda, Clarins and Brooks Brothers, and was recognised in the government-backed Future Fifty programme as one of the UK leading fast-growth firms.
Its latest investment, one of the largest Series C rounds in a cloud-based business, will be used to advance its development internationally and scale its order revenues, having processed more than $3bn online orders in 2013.
With the retail market currently estimated at $15 trillion, eCommera CEO, Andrew McGregor, discussed the company’s plans:
“We see significant global opportunity as retailers adopt new software and systems to command the next generation experiences and operations. We are already one of the largest cloud-software and service companies in the European market and this investment will enable us to accelerate our global growth, with specific focus on the North American market.”
Norman Fiore, managing partner at Dawn Capital, continued: “A fundamental shift is happening as retailers reconfigure to adopt a multi-channel approach that best meets the needs of today’s and tomorrow’s shoppers.
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“We are delighted that this funding will support the next phase of eCommera’s impressive growth.”