By Digital
Elastic Path, a supplier of headless commerce know-how for constructing personalized ecommerce techniques, has raised $60 million in funding to finance its continued progress, the corporate introduced immediately.
“This new capital will enable Elastic Path to construct on a powerful 2021 because the market shift to composable commerce accelerates,” the software program firm stated. Composable commerce makes use of utility programming interfaces (APIs), cloud-based know-how and different digital applied sciences to allow corporations to attach commerce purposes from a number of distributors to their core ecommerce engine.
Robust demand for such configurations resulted in progress at Elastic Path of greater than 400% final yr over 2020, the seller says. As well as, Elastic Path launched greater than 140 merchandise final yr, together with the Catalog Composer utility, which was designed for manufacturers with complicated product catalogs and associated channel necessities.
“We have been extraordinarily impressed with Elastic Path’s workforce, the power of its product choices, and its spectacular progress over the previous 12 months,” stated John Doyle, Director at BlackRock Funding Corp., one in all Elastic Path’s monetary backers. Different traders embody Sageview Capital. Elastic Path says its whole funding so far is greater than $120 million.
Different headless commerce distributors have additionally been elevating vital quantity of capital. Cloth, a startup, raised $100 million final yr and launched a B2B commerce product in December.
Commercetools raised $140 million final September, bringing its whole to greater than $300 million. In November, commercetools acquired Frontastic, a supplier of customer-facing ecommerce know-how, to offer its purchasers with extra built-in know-how for creating full ecommerce techniques. Commercetools says it has a valuation of greater than $1 billion.
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