Tech City resident eCommera sets sights on US after closing $41 million deal

British technology company eCommera has built on the back of a three year period which has seen the business achieve compound annual growth of 46 per cent by securing new growth capital.

Dawn Capital are being joined by West Coast Capital, Frog Capital, ePlanet Capital, WPP and Wti in a funding round worth $41 million (£24.7 million) for eCommera.

Founded in 2007, eCommera’s software service is aimed at retailers such as clients Jaeger and Space.NK to aid with profitable moves to omni-channel commerce.

The previous 12 months have seen eCommera add 20 new retailers and brands as well as secure a place on the inaugural Tech City UK Future Fifty list of high-growth companies.

Previous funding rounds for eCommera included an $8.26 million transaction involving Frog Capital and West Coast Capital closed in 2009 and subsequent top-up round worth $2.15 million at the end of the same year. The business also sold a stake to marketing services group WPP in 2010, bringing in £7.5 million.

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The additional $41 million it has now banked will reportedly be used to fund the growth of what is described as a next generation ‘decision intelligence commerce’ product exclusively for retailers.

Andrew McGregor, CEO of eCommera, comments, ‘We are supported by an investment group that understands the power of data in solving the increasing complexities faced by retailers.

‘We see significant global opportunity as retailers adopt new software and systems to command the next generation experiences and operations.’

With the businesses processing in excess of $3 billion online orders in 32 countries during 2013, McGregor believes that there is remit for further growth – particularly in North America.

Recent development at eCommera has also been fuelled by acquisitive means. In June 2013 the business bought Toronto-based OrderDynamics for an undisclosed amount.

Norman Fiore, managing partner at new backer Dawn Capital, adds, ‘We have reached a tipping point as bricks and mortar retailers aggressively rise to the challenge from pure online players.

‘A fundamental shift is happening as retailers reconfigure to adopt an omni-channel approach that best meets the needs of today’s and tomorrow’s shoppers.’

Wonga and Mimecast backer Dawn Capital raised a new £63 million investment fund in July 2013 for investing in UK and European-based technology ventures.

Hunter Ruthven

Hunter Ruthven

Hunter was the Editor for from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.

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