BigCommerce gets 30 million dollars in funding

E-Commerce platform BigCommerce, which powers web sites for brands like 3x1 and LaQuan Smith, has closed in on 30 million dollars of Series E funding.

The round was led by GGV Capital, a Silicon Valley and China-based investment firm that has backed other startup companies like Poshmark, Alibaba, Houzz, Square, and Slack. Participating investors involved in this round of founding also include General Catalyst, SoftBank Capital, Tenaya, Split Rock, Telstra Ventures and American Express. This brings the total funding raised for the 7-year-old platform to 160 million dollars.

GGV Capital managing partner Jeff Richards will join the company's board of directors.

The Austin-based company, which also has offices in San Francisco and Sydney, will use the funding to continue making new hires to its product and engineering teams so they will be able to quickly introduce more products and form new partnerships.

BigCommerce raises 30 million dollars in Series E funding

“The new financing,” said company chief executive officer Brent Bellm to WWD, “follows on the successful launch of several new products, our partnerships with major players in e-commerce like eBay and Square, and our successful expansion into the midmarket in a very big way.” Bellm stepped into his role in June, and has held stints at E-bay , PayPal and McKinsey.

BigCommerce recently started a partnership with E-bay that will allow their merchants to choose to concurrently list their products on E-bay, and mange their inventory and listings through Big Commerce's control panel. Merchants will also have the option of creating bulk listings and on E-bay and streaming order fulfillment and management. This capability will become available in the third quarter of 2016.

The new funding will also go towards accelerating the pace at which BigCommerce can offer services that allow merchants to sell where customers already are like social networks, outside marketplaces, or eventually an e-mail.

While BigCommerce doesn't disclose how many merchants they work with, the platform as a whole has transacted over 9 billion dollars in sales. They work with everyone from small to midsize merchants.