Commerce Guys, the company behind leading eCommerce solution Drupal Commerce, announces receiving $5 million in venture funding. The round represents Series A funding for the company and was led by Paris-based investment firm Alven Capital, one of the most active funds for eCommerce in Europe. Espoo, Finland-based Open Ocean Capital, a venture capital firm known for its partners’ success in founding MySQL AB and experts on open-source technologies, and Paris-based ISAI, the French entrepreneur’s fund, also contributed to the round.
“We are very excited to be supported by Alven Capital, Open Ocean and ISAI in taking Commerce Guys to the next level,” said Frédéric Plais, CEO and Co-founder, Commerce Guys. “The funds will propel our efforts to expand the Drupal Commerce technology and ecosystem to both global and emerging eCommerce companies.”
With the new funding and ongoing growth, Commerce Guys anticipates adding 30 key staff members in the coming months, half of them in Paris and the United Kingdom. The company currently has 37 employees split between the United States and its European headquarters in Paris.
With this Series A round, Commerce Guys has received a total of $6 million in funding; ISAI provided an initial seed round in 2010.
“Alven has a long history of funding eCommerce start-ups and we know how important it is to have the right underlying technology. Drupal Commerce offers e-merchants the kind of flexibility and innovation they need to execute successfully in the marketplace,” said Nicolas Celier, Partner, Alven Capital.
Drupal Commerce, created by Commerce Guys, is an open-source framework now in use in over 10,000 websites worldwide. Known for its unprecedented flexibility, scalability and security for conducting modern eCommerce, Drupal Commerce offers a range of capabilities, including the ability to upload catalogs of merchandise, accept payments online, integrate with shipping services and interact with customers. Through Drupal Commerce, online retailers have a leading-edge solution for complex product, content, community and context management.
“We understand the power of open-source as a strategic, long-term and robust technology solution,” said Tom Henriksson, Partner, Open Ocean and Commerce Guys Strategic Committee Member. “We believe that Drupal Commerce is positioned to be a leading solution in the eCommerce software industry. We are excited to support Commerce Guys in developing a rapidly scalable business rooted in the vibrant open-source Drupal community.”
Jean-David Chamboredon, CEO of ISAI, and early investor at Commerce Guys added, "We are very pleased by the progress Commerce Guys has achieved since our early stage investment in late 2010. The company's plan is exciting and we have the right investor partners to forward their success as a leader in open-source software solutions."
Commerce Guys offers online retailers a range of services and support to fully leverage and customize Drupal for eCommerce.
As an enterprise-grade platform with a proven track record of powering the busiest websites in the world, Drupal allows organizations to develop a strategic, long-term web strategy without the confines of proprietary systems. There are no licensing fees, saving many organizations hundreds of thousands to millions of dollars in annual fixed-costs while providing unparalleled options and flexibility.
About Commerce Guys and the funds
Commerce Guys, creators of Drupal Commerce, is the leading eCommerce company working with Drupal, a powerful open-source web infrastructure and social publishing platform. Please find out more information about our financial partners, ISAI, ALVEN, OPEN OCEAN.