Australian fintech startup BigCommerce has just completed a $41 million funding round in Silicon Valley, lead by GGV Ventures who has backed the likes of Square, Alibaba and Slack.
The latest round adds to the $170 million it has already raised since it was founded in 2009, including a $40 million round led by former AOL chief executive Steve Case.
“BigCommerce is benefiting from the retail industry shifting online, with every small, mid-sized and large merchant in the world seeking to gain a piece of the $1 trillion e-commerce market,” said Brent Bellm, CEO of BigCommerce.
“This new financing follows on the successful launch of several new products, our partnerships with major players in e-commerce like eBay and Square, and our successful expansion into the mid market.”
The company, which was originally founded in Sydney now has offices worldwide, with its global headquarters located in Austin, Texas. It’s one of the leading “software as a service” providers in the world for merchants running an online business.
Since its inception, BigCommerce has processed more than $9 billion in sales and has more than 1000 partners offering the software for customers on the BigCommerce marketplace.
“We believe we are still in the early innings of a massive global shift from offline to online retail, with mobile and younger demographics driving the trend,” said GGV Ventures managing partner Jeff Richards, who will also be joining the BigCommerce board.
“BigCommerce and its competitors have brought hundreds of thousands of merchants online in the past few years, but there are millions left to come online – and today’s shopper shops online first.”
Joining GGV in the funding round was the likes of Telstra Ventures, American Express Ventures, SoftBank Capital and several other VC firms.