Bigcommerce Snags $50 Million in Funding

Bigcommerce's Austin offices, photo by Stacy Alexander Evans

Bigcommerce’s Austin offices, photo by Stacy Alexander Evans

Bigcommerce, an ecommerce platform based in Austin, announced it has raised $50 million led by Softbank Capital.

Other investors in the Series D funding included Telstra Ventures and American Express as well as existing investors General Catalyst and Revolution Growth. Steve Murray, a partner at SoftBank Capital, will join the Bigcommerce board. The company has previously raised $75 million.

Bigcommerce plans to use the money for product development, sales and marketing and to enter new markets. Ecommerce is expected to become a $2 trillion market worldwide by 2015, according to Bigcommerce. Its software handles approximately $5 billion worth of online sales.

Last month, Bigcommerce struck a partnership deal with Alibaba.com. Softbank owns one-third of Alibaba.

“Partnering with SoftBank Capital gives us access to the growing Asian market and opportunities within SoftBank Group companies, including Alibaba, while American Express and Telstra share our passion for helping businesses in the U.S and Australia respectively,” Eddie Machaalani, co-founder and CEO of Bigcommerce, said in a news release. “With this new round of funding, we will continue to level the commerce playing field so that every merchant has the opportunity to build a compelling brand and scalable business to effectively compete with the largest players in their industry.”

Bigcommerce, founded in 2009, has more than 55,000 retail customers worldwide. It has offices in San Francisco, Austin and Sydney. Silicon Hills News did this story on the company earlier this year. The company has 350 employees, including 200 in Austin.

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