The new financing enables disruptive cloud-native, headless and API-first commerce platform to build on its success and drive further expansion plans.
October 21, Germany’s commercetools, a leader in next-generation commerce software, announced a $145 million (€130 million) investment from Willkie client Insight Partners, a global venture capital and private equity firm. The investment will support commercetools’ plans for further growth in the United States, Asia-Pacific and Europe.
Since the launch of its API commerce platform in 2013, 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, brands are able to create more engaging and higher revenue-driven commerce experiences that are easier and quicker to build, grow and manage across any channel.
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, and Yamaha.
Insight Partners invests 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.
The cross-border Willkie deal team was led by partners Morgan Elwyn in New York and Stefan Jörgens in Frankfurt, and included special European counsel Johannes Eckhardt.