Company

21 October 2019

Commerce­tools signs €130 Million deal with In­sight Part­ners to accele­rate global growth

New financing enables disruptive cloud-native, headless and API-first commerce platform to build on its success and drive further ambitious expansion plans in North America, Asia-Pacific and Europe

Berlin, October 21st, 2019 – commercetools, a leader in next-generation commerce software, today announced a €130 million investment from global venture capital and private equity firm Insight Partners to support the company’s plans for further growth in the USA, Asia-Pacific and Europe.

Since the launch of its API commerce platform in 2013, Germany’s commercetools has aimed to disrupt the commerce software market. The company’s true cloud, headless and API-first commerce platform helps brands break away from restrictive legacy e-commerce software. Using the commercetools platform, they create more engaging and higher revenue-driven commerce experiences that are easier and quicker to build, grow and manage across any channel.

“Rather than relying on increasingly outmoded software, brands, manufacturers and distributors are choosing our cloud-native and modern software platform to transform their digital commerce for today’s consumers,” said Dirk Hoerig, CEO and co-founder, commercetools. “To answer this demand, we have built a strong and successful international business and this new investment will enable us to intensify the pace of our growth into North America and Asia-Pacific markets, as well as leverage our success in Europe. The scale of this funding, combined with our tremendous strengths in technology and the quality of the team we are building, significantly furthers our ambition to become the number one commerce platform globally.”

This new financing builds on the rapid growth of commercetools over the last 18 months. The company has opened new operations in the UK and Asia-Pacific and has built up a large and growing roster of clients including Audi, Bang & Olufsen, Carhartt WIP, and Yamaha.

As part of the deal, Richard Wells and Matt Gatto, seasoned software investors and Insight Partners Managing Directors will both join commercetools’ board of directors.

Wells said: “With a strong track record of investing in retail software leaders, we are excited to have the opportunity to invest in commercetools and help them scale up internationally. In our opinion commercetools represents the next wave of enterprise commerce software and has the potential to unlock powerful innovation and growth within the e-commerce sector.”

Gatto added, “We are looking forward to partnering with commercetools providing more than 20 years of software and operational insights and best practices to help them continue to scale.”

REWE Digital GmbH, which is part of the retail and hospitality business REWE Group, remains a major shareholder and investor of commercetools. Jan Kunath, member of the executive board of REWE Group, said: “Over the last five years commercetools has grown under REWE digital from a startup to a category leader in the enterprise commerce space. With Insight Partners we found the best partner to join with REWE digital to further support commercetools on its journey to market leadership.”

About Insight Partners

Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight currently has over $20 billion of assets under management and has cumulatively invested in more than 300 companies worldwide. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all its investments, visit www.insightpartners.com or follow @insightpartners on Twitter.

About commercetools

commercetools is a next-generation software technology company that offers a true cloud commerce platform, providing the building blocks for the new digital commerce age. Our leading-edge API approach helps retailers create brand value by empowering commerce teams to design unique and engaging digital commerce experiences everywhere – today and in the future. Our agile, componentised architecture improves profitability by significantly reducing development time and resources required to migrate to modern commerce technology and meet new customer demands. It is the perfect starting point for customised microservices. Visit www.commercetools.com for more information.

About Rewe Digital GmbH

Established in 2014, REWE digital is at the heart of the REWE Group’s digital transformation. All of the REWE Group’s strategic online activities and some of its operational ones are concentrated at the Cologne Carlswerk site. REWE digital aims to be the leading provider of online solutions in all of the REWE Group’s markets. One of REWE digital’s most important tasks is the digitalisation of the German food retail sector. In addition to our bricks-and-mortar stores, customers can also order their food online and have it delivered chilled and fresh to their homes at their chosen time.

REWE’s delivery service is setting a trend in the online shopping sector and is now Germany’s number one online supermarket for fresh produce (IFH 2016). REWE digital also works alongside the business divisions to develop omnichannel solutions and drives innovation within the Group. In addition to its Carlswerk site, which boasts more than 600 employees, REWE digital operates nine food fulfilment centres (FFCs) which employ over 1,500 people. The state-of-the-art FFC 2.0 in Cologne’s Niehl district has been highly automated since the end of 2018 and is the first of its kind in continental Europe. The ZooRoyal and Weinfreunde online retailers, which are also located at the site in Mülheim, Cologne, are just some of the brands that make up REWE digital.

About REWE Group

The cooperatively organized REWE Group is one of the leading trade and tourism groups in Germany and Europe. In 2020, the company generated a total external turnover of around 75 billion euros. Founded in 1927, REWE Group operates with 380,000 employees in 21 European countries.

 

The sales lines include REWE, REWE CENTER and BILLA as well as BILLA PLUS and ADEG supermarkets and consumer stores, the discounter PENNY, IKI, the drugstores BIPA and the toom Baumarkt DIY stores. The company also operates convenience stores REWE To Go and the e-commerce activities REWE Lieferservice and Zooroyal. The Lekkerland Group comprises the wholesale activities of the business group in the area of on-the-go consumption.Travel and tourism under the umbrella of DER Touristik Group includes the tour operators ITS, Jahn Reisen, Dertour, Meiers Weltreisen, Travelix, Kuoni, Helvetic Tours, ITS Coop Travel, Billa Reisen, Koning Aap, Apollo, Exim Tours and Fischer as well as more than 2,300 travel agencies (e.g. DER Reisebüro, DERPART, Kuoni, Exim, Fischer and cooperation partners), the hotel chains Sentido, Aldiana, Calimera, Cooee, and the direct tour operator Prijsvrij Vakanties.

Martin_Bruening
Contact
Martin Brüning
Head of Corporate Communications at
REWE Group

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