Retail Cloud Software Company eCommera Secures $41 Million to Embark on Global Mission to Reconfigure Retail
February 23, 2014 - London, United KingdomÂ
LONDON, UNITED KINGDOM --(Marketwired - February 23, 2014) - eCommera, a global software-as-a-service (SaaS) and big data company that was formed to help retailers profit from the move to omni-channel commerce, has announced a $41 million Series C funding round -- one of the largest raises in its category.
Dawn Capital led the round together with investors West Coast Capital, Frog Capital, ePlanet Capital, WPP and new partner Wti. The funding will be used to advance global growth of a next generation "Decision Intelligent Commerce" solution built exclusively for retailers. This game-changing solution combines big data predictive analytics with online, mobile and operational software to allow retailers to sell everywhere, fulfil from anywhere and to do so profitably.
Founded in 2007, eCommera has grown rapidly and enters this round of funding as one of the fastest growing companies in its segment, with a compound annual growth rate (CAGR) of 46 per cent over the past three years. This has been driven by strong customer demand with over 20 new retailers and brands added to its roster in 2013.
Today the company's cloud commerce, order management and big data platforms are a vital component in the success of over 70 leading retailers and global brands across 32 countries, powering mobile, online and in-store customer touch points and operations. Notable customers include Asda, House of Fraser, Neiman Marcus, Brooks Brothers, Lifetime Brands, Bouclair, and Clarins.
"We began by assembling a team who pioneered the retail, big data analytics and technology industries, including the former chief scientist at Amazon, and we have remained fervently focused on enabling omni-channel retailer's to adapt to rapidly changing markets and meet their most pressing needs: to reach more customers across the globe, to convert and serve them more profitably, and to offer a seamless experience," said Andrew McGregor, CEO of eCommera. "We are supported by an investment group that understands the power of data in solving the increasing complexities faced by retailers. We see significant global opportunity as retailers adopt new software and systems to command the next generation experiences and operations. We are already one of the largest cloud-software and service companies in the European market and this investment will enable us to accelerate our global growth, with specific focus on the North American market."
"We have reached a tipping point as bricks and mortar retailers aggressively rise to the challenge from pure online players. A fundamental shift is happening as retailers reconfigure to adopt an omni-channel approach that best meets the needs of today's and tomorrow's shoppers," said Norman Fiore, Managing Partner at Dawn Capital. "eCommera impressed us with their game-changing technology that enables retailers to increase profitability and deliver compelling customer experiences from first touchpoint to final fulfilment. We are delighted that this funding will support the next phase of eCommera's impressive growth."
eCommera has been recognized for its technology leadership and rapid business growth with inclusion in the Sunday Times Tech Track 100 for the past three years and the UK Government-backed Future Fifty programme. In 2013, eCommera's retail clients experienced an average online traffic growth of 42 per cent.
Further information about eCommera can be found at www.ecommera.com
Advisors for this round included William Blair & Company and White & Black.
eCommera is a cloud software business that combines big data analytics, commerce and order management platforms to deliver a next generation "Decision Intelligence solution" designed exclusively for retail. This allows retailers across the globe to sell across any channel, fulfil from any store or warehouse and to do so profitably. The business works with over 70 retailers and global brands across 32 countries. In 2013 eCommera added to its DynamicCommerce and DynamicAction product portfolio through the acquisition of OrderDynamics one of the leaders in Order Management software. Today eCommera has offices in Asia, Europe and North America.
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