Commercetools Explained

commercetools
Type:Private
Industry:E-commerce
Predecessors:-->
Successors:-->
Founded:
Munich, Germany
Hq Location City:Munich
Hq Location Country:Germany
Num Locations:12
Num Locations Year:2022
Area Served:Worldwide
Areas Served:-->
Owners:-->
Num Employees:600+
Num Employees Year:2022
Slogans:-->

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.[1] 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; Shanghai, China and Singapore.[2] Through its investor REWE Group it is associated with the omnichannel order fulfillment software solutions provider and the payment transactions provider .[3] [4] [5] [6] Its clients include Audi, Bang & Olufsen, Carhartt and Nuts.com.[7] Commercetools is a founding member of the MACH Alliance.

History

Commercetools was founded by Dirk Hoerig and Denis Werner in 2006.[8] [9] It launched its platform in 2013. In 2014, Commercetools was wholly bought by REWE Digital, part of Germany’s REWE Group.[10] [11] Hoerig is credited with coining the term "headless commerce".[12]

In 2018, Commercetools announced a $17 million investment to support its international expansion.[13] It expanded into the U.K market in 2019 with the opening of its London office.[14] In 2020, Commercetools established a presence in Australia, with a team in Melbourne and a data center in Sydney.[15]

In 2019, commercetools raised $145 million from venture capital firm Insight Partners. Insight Partners' managing directors Richard Wells and Matt Gatto joined Commercetools' board of directors as part of the deal.[16] [17] At the same time, Commercetools was spun out by REWE. REWE remains a significant shareholder.

In January 2021, commercetools partnered with car manufacturer Volkswagen Group to use the platform for its group brands, including Volkswagen, Bentley, Porsche and Audi.[18]

In May 2021, REWE group announced additional investment into Commercetools to fund growth into the Chinese market.[19]

In September 2021, commercetools raised $140m in its series C round, led by venture capital firm Accel, valuing the company at $1.9 billion.[20]

In November 2021, commercetools acquired Frontastic[21] [22] for an undisclosed amount.

In 2022, commercetools was named leader in Digital Commerce by the technological research and consulting firm Gartner together with SAP, Adobe Inc., and Salesforce,[23] [24] as well as named leader in the Forrester Wave™ B2B Commerce Solutions, Q2 2022, by Forrester Research a research and advisory company, together with Oracle Corporation and Salesforce.[25] [26]

Notes and References

  1. Web site: Lunden. Ignrid. Commercetools raises $145M from Insight for Shopify-style e-commerce APIs for large enterprises. 2021-06-11. TechCrunch. en-US.
  2. Web site: commercetools locations. live. Craft.co. https://web.archive.org/web/20210611211142/https://craft.co/commercetools/locations . 2021-06-11 .
  3. Web site: Jonas Jansen . Rewe verkauft auch Wissen . 2020-09-09 . Frankfurter Allgemeine Zeitung - FAZ.NET . de . 2022-09-07.
  4. Web site: Michael Gerling . 73.000 Tonnen Papier sparen . 2022-09-14 . EHI Retail Institute . de . 2022-09-23.
  5. Web site: Dominik Grollmann . Rewe startet eigenen Paymentdienst . 2021-07-05 . iBusiness . de . 2022-09-25.
  6. Web site: Stephan Lamprecht . Rewe Gruppe gründet Payment-Technologietochter . 2021-07-21 . Payment & Banking . de . 2022-10-05.
  7. Web site: Melton. James. 2019-10-24. Headless ecommerce platform vendor commercetools raises $145 million. live. 2021-06-11. Digital Commerce 360. en-US. https://web.archive.org/web/20191030210743/https://www.digitalcommerce360.com/2019/10/24/headless-ecommerce-platform-vendor-commercetools-raises-145-million/ . 2019-10-30 .
  8. Web site: Wong. Stephanie. Morgan. Carter. 2020 Year In Review: How I Launched This, A SaaS Story. live. 2021-06-11. How I Launched This: Google Cloud. en. https://web.archive.org/web/20200919003224/https://cloud.withgoogle.com/saas/podcast . 2020-09-19 .
  9. Web site: commercetools mit weiterem Investmentkapital - VC Magazin. live. 2021-06-11. de-DE. https://web.archive.org/web/20210522024548/https://www.vc-magazin.de/blog/2021/05/21/commercetools-mit-weiterem-investmentkapital/ . 2021-05-22 .
  10. Web site: Palmer. Maija. Smith. Tim. 2020-11-24. European tech companies are beating Amazon at its own game. live. 2021-06-11. Sifted. en-US. https://web.archive.org/web/20201124065734/https://sifted.eu/articles/amazon-europe-challengers-1/ . 2020-11-24 .
  11. Web site: 2019-10-21. Shopify-Investor pumpt 130 Millionen in commercetools. 2021-06-11. deutsche-startups.de. de-DE.
  12. Web site: Lunden. Ingrid. Italy's Commerce Layer raises $16M led by Coatue for its headless commerce platform. 2021-06-16. TechCrunch. en-US.
  13. Web site: Pirrone. Gabriella. commercetools CEO on Global Enterprise Expansion. live. 2021-06-14. CMSC. en-US. https://web.archive.org/web/20190509111231/https://www.cms-connected.com/News-Archive/October-2018/commercetools-CEO-on-Global-Enterprise-Expansion . 2019-05-09 .
  14. Web site: Walker. Peter. German e-commerce tech firm enters UK market. 2021-06-16. Retail Systems. en.
  15. Web site: 2020-03-10. commercetools Announces Arrival In Australia. 2021-06-16. B&T. en-US.
  16. Web site: Lunden. Ingrid. Commercetools raises $145M from Insight for Shopify-style e-commerce APIs for large enterprises. 2021-06-16. TechCrunch. en-US.
  17. Web site: Melton. James. 2019-10-24. Headless ecommerce platform vendor commercetools raises $145 million. live. 2021-06-16. Digital Commerce 360. en-US. https://web.archive.org/web/20191030210743/https://www.digitalcommerce360.com/2019/10/24/headless-ecommerce-platform-vendor-commercetools-raises-145-million/ . 2019-10-30 .
  18. Web site: Edwards. Roy. 2021-01-15. Volkswagen selects commercetools for its eCommerce solution -. 2021-06-16. Enterprise Times. en-GB.
  19. Web site: Farrelly. Connor. REWE Group Invests In Expansion Of Commercetools. live. 2021-06-17. ESM Magazine. en. https://web.archive.org/web/20210517123058/https://www.esmmagazine.com/technology/rewe-group-continue-invest-expansion-132416 . 2021-05-17 .
  20. Web site: Commercetools raises $140M at a $1.9B valuation as 'headless' commerce continues to boom. 2021-10-13. TechCrunch. en-US.
  21. News: 2021-11-22. VC Daily: In Venture Investing, Early Stage Moves to Main Stage. en-US. Wall Street Journal. 2021-11-23. 0099-9660.
  22. Web site: Demery . Paul. 2021-11-22. Commercetools fills a headless technology gap with Frontastic. 2021-11-23. Digital Commerce 360. en-US.
  23. News: 2022-08-24. Gartner Magic Quadrant for Digital Commerce Platforms 2022. en-US. CX Today. 2022-11-01.
  24. Web site: 2022 Gartner Magic Quadrant and Critical Capabilities for Digital Commerce . 2022-08-24 . commercetools . en . 2022-11-01.
  25. Web site: The Forrester Wave™: B2B Commerce Solutions, Q2 2022 . 2022-08-24 . commercetools . en . 2022-11-12.
  26. Web site: Zach Thompson . commercetools named a Leader in B2B Forrester report . 2022-05-16 . IT Brief Australia . en . 2022-11-12.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Commercetools".

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