commercetools receives financing in the mid-million range for its cloud-based eCommerce solutions
Since its founding in 2006, commercetools has become a leading provider of software-as-a-service solutions for online mail order companies in just a few years. The company currently employs 40 staff and is continuously growing. commercetools recently opened another office in Berlin for eCommerce marketing services and cloud eCommerce products. "The successful financing round will ensure commercetools is on the final straight to assume market leadership in eCommerce for mid-sized online retailers, in the medium term," sums up Dirk Hörig, managing director of commercetools GmbH.
The investors most notably emphasise the promising product innovations. Thomas Manitta from Bayern Kapital says, "commercetools consistently implements the needs of online retailers in the cloud era. We are looking forward to supporting experts who have both identified and taken advantage of the opportunities of cloud technology from the very beginning."
High-Tech-Gründerfonds and Astutia Ventures also have a great deal of faith in commercetools. "The management team, which has a wealth of industry experience, was a determining factor in granting the initial seed funds," explains Clemens von Bergmann, senior investment manager of High-Tech-Gründerfonds, "the exceptional development over the last few years has now reinforced our decision to continue investing in the growth of the company." Benedict Rodenstock from Astutia Ventures adds, "We observed the initial internationalisation in Europe with particularly great enthusiasm and are looking forward to other markets being opened up".
Alexander Ullmann from BayBG also comments, "for us as a mid-sized-company-orientated equity investor, it is especially important that a medium-sized company like commercetools also demonstrates affordable and profitable methods in online trading for small and mid-sized retailers. The new cloud products make this possible."
Private investor Klaus Wecken is impressed by the success of the Munich-based company: "Cloud computing is gaining importance for companies of all sizes and from all industries. The high demand for cloud products in eCommerce in particular also proves commercetools is in a strong position."
With funding from the investment bank of Berlin (IBB) also being approved, commercetools is now perfectly positioned for the future.
commercetools provides a state-of-the-art cloud-based eCommerce enterprise solution to meet the highest demands. It is also affordable for small and medium-sized businesses and helps customers achieve exceptional results in eCommerce. Based on the experience they gained in eCommerce, Dirk Hörig and Denis Werner decided to set up the software provider commercetools in 2006. Unlike existing competitor software, this is distributed in the SaaS model (software-as-a-service).
BayBG is one of the largest equity investors for small and medium-sized companies. It currently holds investments of more than EUR 300 million in around 500 companies. With its participating interests and venture capital investments, BayBG helps these small and medium-sized companies to implement plans for innovation and growth, manage shareholder changes or corporate succession, optimise the capital structure and realise turn-around projects.
About Astutia Ventures
Astutia Ventures is an investment boutique founded in 2006 and based in Munich. The investment focus is direct investment within the remit of the internet and digital media. In addition to providing capital, Astutia Ventures also has expertise in internet and structuring know-how. A broad network of potential co-investors, partners and customers adds to the creation of value for the companies in the portfolio.
About Bayern Kapital
Bayern Kapital was founded in 1995 as part of the "Bavarian Future Initiative" of the state government. Its objective is to provide young, innovative Bavarian companies in particular with venture capital. To date, Bayern Kapital has invested around EUR 170 million in over 200 innovative, high-tech companies. Bayern Kapital serves as a regional contact and currently manages a total fund volume of around EUR 200 million.
High-Tech Gründerfonds Management GmbH
High-Tech Gründerfonds invests risk capital in young, promising technology companies that implement auspicious research results in an entrepreneurial way. The start-up companies use the seed funding to help them conduct their research and development plans until a prototype/proof of concept is provided or the product is launched on the market. The fund generally invests EUR 500,000 million, and up to EUR 2 million is available per company. Investors in the public-private partnership include the Federal Ministry of Economics and Technology, the KfW Banking Group and the 12 industrial groups ALTANA, BASF, B. Braun, Robert Bosch, CEWE Color, Daimler, Deutsche Post DHL, Deutsche Telekom, Qiagen, RWE Innogy, Tengelmann and Carl Zeiss. High-Tech Gründerfonds has a total fund volume of approximately EUR 560.5 million (EUR 272 million for Fund I and EUR 288.5 million for fund II).