Commercetools

Commercetools, stylized as commercetools, is a cloud-based headless commerce platform that provides APIs to power e-commerce sales and similar functions for large businesses.[2] Both the company and platform are called Commercetools. The company is headquartered in Munich, Germany with additional offices in Berlin, Germany; Jena, Germany; Amsterdam, Netherlands; London, England; Durham, North Carolina; Zürich, Switzerland; Sydney, Australia and Singapore.[1] Its clients include Audi, Bang & Olufsen, Carhartt and Nuts.com.[3]

Commercetools
TypePrivate
IndustryE-commerce
Founded2006 (2006)
Munich, Germany
Founders
  • Dirk Hoerig
  • Denis Werner
Headquarters
Munich
,
Germany
Number of locations
12[1] (2021)
Area served
Worldwide
Number of employees
269[1] (2021)
Websitecommercetools.com

History

Commercetools was founded by Dirk Hoerig and Denis Werner in 2006.[4][5] It launched its platform in 2013.[3] In 2014, Commercetools was wholly bought by REWE Digital, part of Germany’s REWE Group.[6][7] Hoerig is credited with coining the term "headless commerce."[8]

In 2018, Commercetools announced a $17 million dollar investment to support its international expansion.[9] It expanded into the U.K market in 2019 with the opening of its London office.[10] In 2020, Commercetools established a presence in Australia, with a team in Melbourne and a data center in Sydney.[11]

In 2019, commercetools raised $145 million from venture capital firm Insight Partners.[11] Insight Partners' managing directors Richard Wells and Matt Gatto joined Commercetools' board of directors as part of the deal.[12][13] At the same time, Commercetools was spun out by REWE. REWE remains a significant shareholder.[6]

In January 2021, commercetools partnered with car manufacturer Volkswagen Group to use the platform for its group brands, including Volkswagen, Bentley, Porsche and Audi.[14]

In May 2021, REWE group announced additional investment into Commercetools to fund growth into the Chinese market.[15]

In September 2021, commercetools raised $140m in its series C round, led by venture capital firm Accel, valuing the company at $1.9 billion.[16]

In November 2021, commercetools acquired Frontastic[17][18] for an undisclosed amount.

References
  1. "commercetools locations". Craft.co. Archived from the original on 2021-06-11.
  2. Lunden, Ignrid. "Commercetools raises $145M from Insight for Shopify-style e-commerce APIs for large enterprises". TechCrunch. Retrieved 2021-06-11.{{cite web}}: CS1 maint: url-status (link)
  3. Melton, James (2019-10-24). "Headless ecommerce platform vendor commercetools raises $145 million". Digital Commerce 360. Archived from the original on 2019-10-30. Retrieved 2021-06-11.
  4. Wong, Stephanie; Morgan, Carter. "2020 Year In Review: How I Launched This, A SaaS Story". How I Launched This: Google Cloud. Archived from the original on 2020-09-19. Retrieved 2021-06-11.
  5. "commercetools mit weiterem Investmentkapital - VC Magazin" (in German). Archived from the original on 2021-05-22. Retrieved 2021-06-11.
  6. Palmer, Maija; Smith, Tim (2020-11-24). "European tech companies are beating Amazon at its own game". Sifted. Archived from the original on 2020-11-24. Retrieved 2021-06-11.
  7. "Shopify-Investor pumpt 130 Millionen in commercetools". deutsche-startups.de (in German). 2019-10-21. Retrieved 2021-06-11.
  8. Lunden, Ingrid. "Italy's Commerce Layer raises $16M led by Coatue for its headless commerce platform". TechCrunch. Retrieved 2021-06-16.{{cite web}}: CS1 maint: url-status (link)
  9. Pirrone, Gabriella. "commercetools CEO on Global Enterprise Expansion". CMSC. Archived from the original on 2019-05-09. Retrieved 2021-06-14.
  10. Walker, Peter. "German e-commerce tech firm enters UK market". Retail Systems. Retrieved 2021-06-16.
  11. "commercetools Announces Arrival In Australia". B&T. 2020-03-10. Retrieved 2021-06-16.
  12. Lunden, Ingrid. "Commercetools raises $145M from Insight for Shopify-style e-commerce APIs for large enterprises". TechCrunch. Retrieved 2021-06-16.{{cite web}}: CS1 maint: url-status (link)
  13. Melton, James (2019-10-24). "Headless ecommerce platform vendor commercetools raises $145 million". Digital Commerce 360. Archived from the original on 2019-10-30. Retrieved 2021-06-16.
  14. Edwards, Roy (2021-01-15). "Volkswagen selects commercetools for its eCommerce solution -". Enterprise Times. Retrieved 2021-06-16.
  15. Farrelly, Connor. "REWE Group Invests In Expansion Of Commercetools". ESM Magazine. Archived from the original on 2021-05-17. Retrieved 2021-06-17.
  16. "Commercetools raises $140M at a $1.9B valuation as 'headless' commerce continues to boom". TechCrunch. Retrieved 2021-10-13.
  17. "VC Daily: In Venture Investing, Early Stage Moves to Main Stage". Wall Street Journal. 2021-11-22. ISSN 0099-9660. Retrieved 2021-11-23.
  18. Demery |, Paul (2021-11-22). "Commercetools fills a headless technology gap with Frontastic". Digital Commerce 360. Retrieved 2021-11-23.
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