Software developer Commercetools raises USD 140 million and is worth USD 1.9 billion
Munich — U.S. investor Accel and legacy investors Insight Partners and REWE Group invest $140 million in e‑commerce solution commercetools. In the financing round, the Munich-based online store infrastructure developer was valued at around $1.9 billion as an unlisted — e‑commerce company . This means that commercetools is now a Unicorn!
Insight Partners most recently invested $145 million in the “cloud-based headless e‑commerce system.” “This latest round represents a huge hike on its valuation since then, when Commercetools was valued at around $300 million,” TechCrunch writes of the valuation. The new capital brings commercetools another step closer to its long-term vision: to enable inspiring shopping experiences across borders and to create scalable and outstanding customer relationships.
Commercetools was founded in 2006 by Denis Werner, René Welches and Dirk Hörig. In 2014, the retail and tourism group Rewe acquired commercetools, the purchase price at the time was just 6.5 million.
Commercetools’ customers include corporations such as Audi, Yamaha and Cimpress (Vistaprint and Tradeprint). The company offers mobile apps, voice assistants, chatbots, AR/VR and IoT applications.
According to its own information, Commercetools has a total of over 200 employees at its locations in Munich, Berlin, Jena, Amsterdam, London, in Durham in the US state of North Carolina and in Singapore.
In addition to existing investors Insight Partners and Rewe Group, tech investor Accel, which has already funded Dropbox, Spotify and Slack, is also involved in the new round.