VTEX earns $1.7 billion valuation, becomes tech unicorn as major global brands flock to its collaborative commerce platformSeptember 30, 2020
New funding brings VTEX’s total raise to $365 million; will accelerate R&D, global expansion, and help meet record demand from B2B and B2C merchants
LONDON, Sept. 30, 2020 – VTEX, a multinational tech company that provides a global, fully integrated, end-to-end commerce solution, today announced it has raised $225 million in a Series D funding round, earning the e-commerce provider a $1.7 billion valuation and the coveted status of tech unicorn. The funding received from leading public market technology investors Tiger Global, Lone Pine Capital, Constellation, Endeavour Catalyst and SoftBank brings VTEX’s total funding to $365 million in the last 10 months.
As the global pandemic radically shifts how goods are bought and sold, a record number of global enterprise brands from Fortune 1000 companies are turning to VTEX, which IDC recently named the world’s fastest-growing e-commerce platform. The company’s collaborative commerce platform, which uniquely integrates digital commerce, native marketplace and order management capabilities, has seen 98% growth in platform adoption during the pandemic. VTEX now powers more than 2,500 online storefronts for global brands like AB InBev, Motorola, Stanley Black & Decker, Sony, Walmart, Whirlpool, Coca-Cola and Nestlé.
“The pandemic is challenging brands in unprecedented ways, and this funding will help us bring our collaborative commerce platform to more brands so they can achieve rapid time-to-revenue despite the challenges they face now and in the future,” says Amit Shah, Chief Strategy Officer and U.S. General Manager at VTEX. “It’s exciting to see both B2B and B2C sellers across the globe finding success with collaborative commerce in ways they didn’t think possible.”
VTEX will use funds from the latest round to make acquisitions, hire additional talent, innovate its platform and accelerate growth in U.S., European and Asia-Pacific markets.
“We are excited to grow quickly in new and existing markets, and offer even more brands a platform that embraces the future of commerce, which is about being collaborative, leveraging marketplaces, and delivering customer experiences that are second-to-none,” said Mariano Gomide de Faria, VTEX co-founder and co-CEO. “This injection of funding will undoubtedly support us in achieving our mission to accelerate digital commerce transformation around the world.”
The round comes amid a high growth year for VTEX, which has grown profitably over the last decade, and expects to close 2020 with a 114% increase in year-over-year growth and a record $8 billion in gross merchandise volume (GMV).
The company has crossed significant milestones in the last 12 months, including:
- Raising a $140 million Series C funding round led by Softbank
- Adding more than 1,000 new online stores that went live on VTEX
- Adding more than 100 developers to keep growing R&D and product capabilities
“We are proud of the VTEX team for having built a next-generation commerce platform that is now present in more than 32 countries, and we are grateful to our customers for trusting us to help them grow business and serve their customers, especially in unprecedented times,” said Geraldo Thomaz, VTEX co-founder and co-CEO.
For more information on how VTEX is supporting B2B and B2C sellers through their collaborative commerce platform, visit www.vtex.com.