During its latest funding round, Elastic Path Software, an enterprise commerce platform provider, has secured a $7.58 million ($10 million in Canadian dollars) from investment firms Yaletown Venture Partners and The BDC Venture Capital IT fund.
The platform provider will use the funds to grow its Software-as-a-Service (SaaS) business, deepen investment in partner channels and further drive technology innovation for the commerce platform. To date, the company has helped its customers generate $40 billion in sales using its digital commerce technology.
“Our customers are telling us that omnichannel service is no longer an option for doing business, it’s a requirement,” said Harry Chemko, CEO of Elastic Path Software. “This is forcing companies to rethink their current marketing and customer service strategies. Buyers want the ability to shop from one channel to the next and assume the brand will recognize their preferences and actions. It’s no longer about offline or online, in-store or e-Commerce — it’s simply the new expectation of business, and commerce.”
Advertisement
In the last year, Elastic Path has focused on securing partnerships, primarily with digital marketing agencies and enterprise systems integrators, to streamline its sales and marketing channels and provide technical support on a global basis.
