Spryker, a Berlin, Hamburg, Germany- and Amsterdan, The Netherlands-based provider of a commerce technology platform for global enterprises, raised over $130m in Series C financing round.
The round was led by TCV with participation from existing investors One Peak from London and Project A Ventures. In conjunction with the funding, Gopi Vaddi, General Partner at TCV, will be joining Spryker’s board of directors. With this round, Spryker’s company value exceeds $500m.
The company intends to use the funds to expand its international reach, with a focus on the U.S., which already accounts for 10% of its annual software revenue, grow its proven B2B and Enterprise Marketplace products and create a 3rd party technology AppStore and its global talent to maintain its innovative edge and continue to build new products for future use cases and touch points, including IoT commerce, subscription, and click & collect.
Founded in 2014 and led by Boris Lokschin, CEO, Spryker leverages a cloud native PaaS (Platform as a Service) delivery model to enable companies to build transactional business models in B2B, B2C, and Enterprise Marketplaces. Customers extend their sales reach and grow revenue with a system that allows them to increase operational efficiency, lower total cost of ownership, and expand to new markets and business models faster. The company’s solutions have empowered 150+ companies to manage transactions in more than 200 countries worldwide. Spryker is used by brands such as Toyota, Siemens, Hilti, and Ricoh.
The global team counts more than 250 employees with over 35 nationalities, working out of offices in Germany, USA, U.K., Netherlands, and Ukraine.