commercetools, a Munich, Germany-based provider of an API commerce software, received a $145M USD (€130m) investment from global venture capital and private equity firm Insight Partners.
As part of the deal, Richard Wells and Matt Gatto, seasoned software investors and Insight Partners Managing Directors, will both join commercetools’ board of directors.
The company intends to use the funds for further growth in the USA, Asia-Pacific and Europe.
Launched in 2013 by Dirk Hoerig, CEO, commercetools provides a cloud, headless and API-first commerce platform for brands to create engaging and high revenue-driven commerce experiences that can be easier and quicker to build, grow and manage across any channel.
This new financing builds on the rapid growth of commercetools over the last 18 months. The company has opened new operations in the UK and Asia-Pacific and has built up a large and growing roster of clients including Audi, Bang & Olufsen, Carhartt, and Yamaha.
Following the deal, Rewe Digital, which is part of the global retail and hospitality business Rewe Group, remains a major shareholder and investor in the company.