Australian fintech BigCommerce has just closed $84.5 million in equity funding

Bigcommerce founders Mitchell Harper and Eddie Machaalani. Image: Supplied.
  • Australian ecommerce player BigCommerce has closed $US64 million ($AU84.5 million) in equity funding, led by Goldman Sachs.
  • The platform has now raised more than $US200 million ($AU264 million) since it was founded in 2009.
  • The cash will go towards accelerating BigCommerce’s product roadmap.

Fintech startup BigCommerce, the Australian-founded ecommerce platform, announced it has closed $US64 million ($AU84.5 million) in growth equity funding.

The round was led by Goldman Sachs, with participation from current investors General Catalyst, GGV Capital and Tenaya Capital.

BigCommerce has now raised more than $US200 million ($AU264 million) since being founded in 2009.

The company was originally founded in Sydney and now has offices worldwide, with its global headquarters in Austin, Texas.

It’s one of the leading software as a service (SaaS) providers for merchants running an online business.

BigCommerce’s SaaS ecommerce platform serves more than 60,000 merchants across 120 countries, including Avery Dennison, Ben & Jerry’s, Gibson, Paul Mitchell, Sharp, Skullcandy and Sony.

Merchants selling on the BigCommerce platform have processed more than $US17 billion ($AU22 billion) in sales.

“Our mission is to help every business selling online maximize success through the benefits of SaaS,” says Brent Bellm, CEO for BigCommerce.

“Ecommerce is constantly evolving, and brands need technologies that allow them to stay current and competitive. With this funding, we will continue investing aggressively in our platform, technology and team to serve customers’ needs at every phase of their growth.”

Holger Staude, Vice President Private Capital Investing at Goldman Sachs, says the firm is excited to partner with BigCommerce.

“BigCommerce is an acknowledged leader in SaaS ecommerce for the mid-market, and given its track record and scale we see tremendous opportunity for continued growth.”

The funding follows several recent company milestones, including new and expanded strategic partnerships with leading commerce and technology platforms such as Amazon, eBay, Facebook, Google, Instagram, Square and PayPal.

In March, BigCommerce expanded its collaboration with Instagram to enable shopping on Instagram for more than 60,000 brands.

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