US-based e-commerce software developer Reaction Commerce has closed an $8.5m series A round led by GV, a corporate venture capital subsidiary of internet and technology conglomerate Alphabet.
Venture capital firms Female Founders Fund, CrossCut Ventures and Double M Partners also contributed to the round, as did angel investor Joanne Wilson. The latter three had previously taken part in Reaction’s $2.7m seed round in October 2016.
Reaction has developed an open-source commerce platform that includes inventory management, merchandising tools, order processing and a marketplace function that can support single-tenant and multi-tenant shops.
In addition to the open-source version, the company also offers a managed version of the software that businesses can license. The funding will be used to continue development of the platform and to recruit new talent.
Dave Munichiello, general partner at GV, said: “Many of the best technologies are launched as open-source tools and we believe that highly-scalable companies will be built around these toolsets.
“Reaction Commerce’s modern stack and early developer traction is impressive and the company is in the right place as retailers gravitate toward tech-savvy commerce technologies that provide better experiences for online stores and marketplaces.”