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Shopify Raises $15 Million in Series B Growth Funding

October 20, 2011

Shopify, a leading ecommerce platform used to create and power online stores, has raised a $15 million in Series B growth investment from Bessemer Venture Partners, FirstMark Capital, Felicis Ventures, and Georgian Partners. The funds will be used to expand the company’s operation and encourage finance developers to create ecommerce add-ons that plug into the Shopify platform. The company also launched "The Shopify Fund" on the same day.


"The overwhelming majority of businesses are not yet selling online because the tools available have historically been complex and expensive," said Bessemer Venture Partners' Trevor Oelschig, in a press release. "Shopify is working to change this by building beautiful products that are easy for businesses to use. Shopify's rapid growth and customer success speaks to the power of Shopify's platform and we are excited to be involved as they continue to expand."

"This large investment will allow us to aggressively expand operations with a focus on three areas of growth. First, we're looking to continue hiring the best developers and designers in the world. Second, we would like to open the door to strategic partnerships and acquisitions. Lastly, we will provide seed funding to developers looking to build apps that integrate with the Shopify platform," said Lutke.

"We looked at a number of different ecommerce options, but Shopify made the most sense," said Niklas Kari, Angry Birds' Head of Retail, "We had strong recommendations from other partners, and setting up the store was easy." Rovio recently announced they have sold over two million Angry Birds plush toys.

Tobias Lutke, Shopify's CEO and co-founder, launched the company in 2006. Today, over 15,000 active online stores in 80 countries are powered by Shopify. Individuals, entrepreneurs, and businesses use Shopify to setup and power their online stores. Shopify's product is known for its focus on ease of use, beautiful store designs, and scalability.


Rahul Arora is a ContactCenterSolutions contributor. He has worked as an editor and freelance writer for several reputed organizations in India. To read more of his articles, please visit his columnist page.

Edited by Rich Steeves



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