Shopify gains investment
Canadian e-commerce platform Shopify has closed on a USD15m funding round from Bessemer Venture Partners, FirstMark Capital, Felicis Ventures and Georgian Partners. Shopify helps to power more than 15,000 online shops, including businesses and brands such as Rovio’s Angry Birds, General Electric, Amnesty International, and the Beastie Boys. About 80 apps have been built on the Shopify platform for businesses and individuals to use. In conjunction with the new funding, the company is launching its own USD1m Shopify Fund to encourage more app creation. Developers will receive between USD5,000 and USD10,000 each through the fund to help them build apps. Shopify plans to expand its Ottawa-based team of 70 employees and explore partnerships and acquisitions with the new funds. The firm was founded in 2005 to provide a scalable e-commerce service for businesses and entrepreneurs.
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