Shopify Secures $7M in Series A Funding

Shopify, an Ottawa, Canada-based developer of SaaS platform that allows retailers to easily create businesses online, has secured $7m in Series A funding.

Investors in the round include Bessemer Venture Partners, FirstMark Capital and Felicis Ventures.

Shopify intends to use the capital for product development and international expansion. The company also plans to invest in its technology, infrastructure and developer tools. 
In conjunction with the funding, Alex Ferrara, a Bessemer partner, will join the company’s board. 

Shopify makes it simple for smaller sellers to set up online customizable shops in a few minutes. Each Shopify storefront gives the user control over a shop’s look and feel, in addition to setting up a streamlined checkout and the ability to easily integrate PayPal or a credit-card processor for payments. 
In addition, the company operates the Shopify App Store, which is a collection of apps that can extend the functionality of the online store.

Led by Tobias Lutke, CEO and co-founder, Shopify already serves customers in over 60 countries. Other members of the management team of the company include CTO Cody Fauser.  


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