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Munich-based e-commerce unicorn commercetools receives USD 140 million in financing and acquires Frontastic

Over a period of about a decade, commercetools has grown into a globally market-leading provider of enterprise e-commerce solutions with offices in Europe, the USA, Asia and Australia. Numerous renowned global brands – AT&T, Audi, BMW, Bang & Olufsen, Danone, Flaconi and many more – rely on the Munich-based company’s software solution for designing, implementing and scaling of their e-commerce channels.

commercetools has experienced a steep development: After its seed and start-up phase, during which Bayern Kapital supported the company among other investors, it started to successfully compete on an international level. Its early expansion represented a certain risk at the time, but proved to be a growth catalyst. In the following four years, the company opened additional offices in Amsterdam, London, Singapore, Sydney and Zurich, increasingly expanding the commercetools network. At the same time, the company acquired many renowned major customers. In 2019, globally leading private equity and venture capital firm Insight Partners joined commercetools to accelerate its growth even further.

In summer 2021, Silicon Valley top investor Accel alongside existing investors Insight Partners and REWE Group also invested in commercetools in a USD 140 million financing round, which boosted the Munich-based company’s valuation to approx. USD 1.9 billion. The new funds are the basis for more great news: Just a few weeks ago, commercetools announced the acquisition of the Composable-frontend-platform Frontastic. Beyond its platform solution, commercetools is set to develop into a globally successful tech retail brand for e-commerce tools in the coming years. For that, the first step has been taken with the acquisition of Frontastic and with over 350 employees in approx. 45 countries, commercetools is well-positioned to make its vision a reality.

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