February 18, 2021
Winnipeg-based Bold Commerce, once known as Shopify’s largest app developer, recently closed its $35 million CAD Series B funding round. The Series B financing was lead by OMERS Ventures, with participation from investors Whitecap Venture Partners and Round 13 Capital. All three companies are Canadian-based funds. It is the largest financing of a Canadian tech company led by OMERS Venture since 2018, who notably led Shopify’s Series C financing in 2013.
Bold Commerce currently works with more than 90,000 brands in over 170 countries. The company provides a modular suite of products including checkout, subscriptions and price rules to help e-commerce retailers extend their platform capabilities. Their dynamic pricing model allows it to maximize profit from every customer regardless of size, which separates Bold Commerce from most software developers. Their platforms include Shopify rivals BigCommerce and WooCommerce and larger merchants who typically don’t use Shopify (who primarily targets small-and medium-sized sellers).
Following a year of accelerated growth for e-commerce retailers during the pandemic, Bold Commerce plans to expand operations and advance their network of tools and integrations for e-commerce stores worldwide.
Author: Shannon Skillings