December 13 2013
OTTAWA, Canada — December 13, 2013 — Shopify, a leading ecommerce and retail platform used by over 80,000 businesses today announced the closing of a $100 million Series C investment. The investment is led by OMERS Ventures and Insight Venture Partners, with participation from Bessemer Venture Partners, FirstMark Capital, Georgian Partners, and Felicis Ventures. The new round of funding will help the company fully expand their recently launched offline retail offering.
Since Shopify’s founding in 2006, the company has been focused on democratizing ecommerce by making it easy for anyone to create a beautiful and powerful online store. Now, Shopify is on the cusp of doing the same in the physical retail world.
“Shopify began as an easy way to sell products online. We used our previous funding rounds to expand into new areas that enriched our product and helped our merchants, like payments and mobile,” said Tobias Lütke, Founder and CEO, Shopify. “This new round of funding will help us further expand into physical retail with Shopify POS, so our merchants can easily sell their products anywhere at any time.”
“In the past few years Shopify has democratized online retail by delivering the easiest and most robust platform to businesses looking to sell a product. They have demonstrated that they truly understand the future of commerce, and we are very excited to see them conquer the offline retail world as well,” said Jim Orlando, Managing Director at OMERS Ventures.
By providing easy, hassle-free ways to sell in-store and online, Shopify has helped shift the power of commerce from large retailers into the hands of entrepreneurs and smaller merchants. In the week surrounding this past Black Friday and Cyber Monday, Shopify stores sold over $100 million in products. Furthermore, research published by Deepfield shows that on Cyber Monday Shopify stores saw more traffic than Walmart, Best Buy and Target.
“Shopify has emerged as a fast-growing leader in a large, global market, and is seeing accelerated adoption,” said Richard Wells, Managing Director at Insight Venture Partners. “The company’s expansion into offline commerce, with Shopify POS, further increases their opportunity with all retail merchants. Shopify has a bright future and we’re excited to be part of it.”
The Series C funding adds to the $22 million of Series A and B funding received in 2010 and 2011.
