{"id":40266,"date":"2023-10-20T15:07:12","date_gmt":"2023-10-20T15:07:12","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/sydney-founded-startup-bigcommerce-secures-41-million-to-continue-global-growth-startupsmart\/"},"modified":"2023-10-20T15:07:12","modified_gmt":"2023-10-20T15:07:12","slug":"sydney-founded-startup-bigcommerce-secures-41-million-to-continue-global-growth-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/sydney-founded-startup-bigcommerce-secures-41-million-to-continue-global-growth-startupsmart\/","title":{"rendered":"Sydney-founded startup BigCommerce secures $41 million to continue global growth – StartupSmart"},"content":{"rendered":"
\"BigCommerce<\/div>\n

Sydney-founded startup success story BigCommerce has secured a further $41 million ($US30 million) in funding as it continues\u00a0to rapidly grow around the world.<\/p>\n

The cash injection was led by GGV, one of Silicon Valley\u2019s biggest VC firms, with existing investors including the likes of General Catalyst and Telstra Ventures also participating.<\/p>\n

The now US-based tech company, which has raised more than $US155 million in total, will use the latest round to\u00a0continue global expansions and help BigCommerce to take advantage of current ecommerce trends, CEO Brent Bellm says.<\/p>\n

\u201cThis new financing follows on the successful launch of several new products, our partnerships with major players in ecommerce like eBay and Square, and our successful expansion into the midmarket,\u201d he says.<\/p>\n

\u201cBigcommerce is benefitting from the retail industry shifting online, with every small, mid-sized and large merchant in the world seeking to gain a piece of the $1 trillion ecommerce market.<\/p>\n

The large round is made even more impressive considering\u00a0the hostile tech funding environment in the US, and Bellm told the Australian Financial Review<\/a> that the reduction in funding has made the best stand out.<\/p>\n

\u201cThis is not an easy market environment in which to raise money\u2026only the best of the best are currently getting support,\u201d Bellm said.<\/p>\n

GGV Capital managing partner Jeff Richards will be joining the company\u2019s board of directors as part of the investment, and says BigCommerce still has a big market to conquer.<\/p>\n

\u201cWe believe we are still in the early innings of a massive global shift from offline to online retail, with mobile and younger demographics driving the trend,\u201d Richards says.<\/p>\n

\u201cBigCommerce and its competitors have brought hundreds of thousands of merchants online in the past few years, but there are millions left to come online.\u201d<\/p>\n

BigCommerce was founded in Sydney in 2009 by Mitchell Harper and Eddie Machaalani and has since become a darling of the Australia tech sector.<\/p>\n

It\u2019s another large investment for an Australian company in 2016, which has been a strong year for later-stage funding.<\/p>\n

Tradie marketplace Oneflare recently closed a $15 million strategic investment<\/a> from Fairfax, while Unlockd scored the same amount<\/a> to aggressively expand internationally.<\/p>\n

Earlier this year online wine retailer Vinomofo secured a $20 million round<\/a> while US-based Bugcrowd locked in a $20 million investment.<\/a><\/p>\n

Follow\u00a0StartupSmart of Facebook<\/a>, Twitter<\/a>, LinkedIn<\/a> and SoundCloud<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Sydney-founded startup success story BigCommerce has secured a further $41 million ($US30 million) in funding as it continues\u00a0to rapidly grow<\/p>\n","protected":false},"author":2,"featured_media":61170,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/40266"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=40266"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/40266\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/61170"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=40266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=40266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=40266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}