Rewe’s commercetools raises 130 million euros in new funding | Progresiv
Rewe-owned commercetools, a leader in next-generation commerce software, announced a 130 million euros investment from global venture capital and private equity firm Insight Partners to support the company’s plans for further growth in the USA, Asia-Pacific and Europe. 
Since the launch of its API commerce platform in 2013, commercetools has aimed to disrupt the commerce software market. The company’s true cloud, headless and API-first commerce platform helps brands break away from restrictive legacy e-commerce software. Using the commercetools platform, they create more engaging and higher revenue-driven commerce experiences that are easier and quicker to build, grow and manage across any channel.
“Rather than relying on increasingly outmoded software, brands, manufacturers and distributors are choosing our cloud-native and modern software platform to transform their digital commerce for today’s consumers,” said Dirk Hoerig, CEO and co-founder, commercetools.
This new financing builds on the rapid growth of commercetools over the last 18 months. As part of the deal, Richard Wells and Matt Gatto, seasoned software investors and Insight Partners Managing Directors will both join commercetools’ board of directors.
REWE Digital GmbH, which is part of the retail and hospitality business REWE Group, remains a major shareholder and investor of commercetools. Jan Kunath, member of the executive board of REWE Group, said: "Over the last five years commercetools has grown under REWE digital from a startup to a category leader in the enterprise commerce space. With Insight Partners we found the best partner to join with REWE digital to further support commercetools on its journey to market leadership.”
The cooperatively organised REWE Group is one of the leading trade and tourism groups both within Germany and in Europe. In 2017, the company generated a total external turnover of approximately 58 billion euros. Founded in 1927, REWE Group operates 15,300 stores with more than 345,000 employees in 21 European countries. (www.rewe-group.com)
