Observed Signal · Feb 4, 2022 · Funding · Source: CMSWire · Impact: 2/5 · Sentiment: Positive
Elastic Path Secures $60 Million for Composable Commerce Growth
Elastic Path, a Boston-based digital commerce solutions provider, announced a $60 million growth financing round from funds and accounts managed by BlackRock, with participation from existing investors led by Sageview Capital. The company has now raised over $120 million in total funding. Proceeds will support Elastic Path's transition from traditional commerce solutions to composable commerce, which combines multiple best-of-breed vendors into a complete business-ready solution. Over the past year, Elastic Path reported 140-plus new product releases, 25-plus new Pre-Composed Solutions and Accelerators, 40-plus new partners, and new enterprise customers including Konica Minolta, HarperCollins, Orgill, and DMSI. The company operates on a MACH-based architecture (microservices-based, API-first, cloud-native SaaS and headless). Sageview Capital partner Jeff Klemens reaffirmed the firm's thesis that API-first commerce solutions are the future of digital.
Notable growth funding round for a composable commerce platform; relevant to MarTech and e-commerce infrastructure but not a major AdTech industry shift.
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Key Takeaways & Evidence Grounding
- Elastic Path secured $60 million in growth financing from funds managed by BlackRock, with participation from existing investors led by Sageview Capital.
- Elastic Path has raised over $120 million in total funding.
- The company plans to accelerate its transition from traditional commerce to composable commerce.
- Elastic Path reported 140+ new product releases, 25+ new Pre-Composed Solutions, and 40+ new partners in the past year.
- New enterprise customers include Konica Minolta, HarperCollins, Orgill, and DMSI.
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“with participation from existing investors led by Sageview Capital....”
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