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Elastic Path Secures $60 Million in Growth Funding

February 7, 2022 by Techcouver Newsdesk Leave a Comment

Vancouver’s Elastic Path has secured a $60 million growth financing round from funds and accounts managed by BlackRock with participation from existing investors, led by Sageview Capital.

Elastic Path powers mission-critical digital commerce for the brands such as Intuit, Pella, Deckers Brands, T-Mobile, and over 250 other leading brands.

Elastic Path pioneered the Headless Commerce space in 2011 and spearheaded Composable Commerce in 2020.

With this new infusion of capital, the 22 year-old company has now raised over $120 million and is positioned to build on their 400+% year over year growth in 2021 as the market shift to Composable Commerce accelerates.

The market is rapidly moving to Composable Commerce, an approach where multiple best-of-breed vendors are “composed” together to create complete, functionally superior commerce solutions optimized for the unique needs of each brand.

“Sageview Capital has held a long-running thesis that nimble, API-first commerce solutions are the future of digital,” said Jeff Klemens, Partner at Sageview Capital. “Elastic Path is leading that transition, with the vision, team, and track-record to drive true market change. We are thrilled to extend our partnership.”

Elastic Path was co-foundered in 2000 by Harry Chemko, Mark Williams, Dave Koo, Ryan Orr, and Jason Billingsley.

Filed Under: News Tagged With: Elastic Path

 
 

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