There’s some big news from Shopify today: they’ve closed their third round of funding led by OMERS Ventures and Insight Venture Partners, securing $100 million in funding, The funding will be used to continue their trajectory towards becoming the way that retail sales are done, whether online, offline, or a mix of the two.
According to the Wall Street Journal:
People familiar with the deal said the company’s Series C valuation was “near $1 billion.” The company declined to comment on revenue but a representative said it had 80,000 active merchants using its software today.
Reaching the $1-billion level is extremely rare. Website TechCrunch recently determined that only 39 tech firms born since 2003 in the U.S., including Facebook and Twitter, have reached the $1-billion level, as valued by public or private markets, making them members of the so-called “Unicorn Club.”
Here are more reports about the deal:
- The New York Times: Shopify Raises $100 Million in Third Round of Financing
- USA Today: E-commerce start-up Shopify raises $100 million
- TechCrunch: Shopify Raises $100M To Drop The ‘E’ And Become The Commerce Company That Spans On- And Offline
- Mashable: Shopify Raises $100 Million to Tackle Offline Commerce
- GigaOm: Shopify raises $100 million Series C to expand offline into general commerce
Congratulations to Tobi, Daniel, Cody, Harley, et. al. on a job well done!