Spree Commerce, a US-based e-commerce development platform, has raised $5m series A funding led by Thrive Capital with participation from Vegas Tech Fund (led by Zappos CEO Tony Hsieh), Red Swan (led by Bonobos CEO Andy Dunn) as well as the company’s existing investors True Ventures and AOL Ventures.
Started in 2008, Spree Commerce is an open source, e-commerce modular development platform that makes for easy configuration and customisation, thus enabling developers and storeowners to meet their needs. Currently, Spree has a community comprising 500 developers contributing towards its platform.
Sean Schofield, co-founder and CEO of Spree Commerce, said: “It’s been a little over two years since our first round of funding and Spree Commerce is going stronger than ever. There are now over 45,000 storefronts running on Spree Commerce software and we’re one of the most popular open source projects on Github. Spree Commerce is now in use by major online retailers like Bonobos and Surfdome as well as established public companies such as Chipotle (CMG), Amer Sports (AGDPY) and Nutrisystem (NTRI). This new funding will allow us to continue work on exciting products such as the Spree Commerce hub, which we introduced last year.”
Earlier in 2013, Spree launched the Spree Commerce hub, the company’s first paid product. The hub is said to “automate backend operations for storefronts using any platform, not just Spree, including stores operated by some of the world’s largest e-commerce retailers,” according to the company website.
“Our long history of supporting online sellers has shown us that many of them are struggling with backend integrations. Whether it’s accounting & ERP, shipping & logistics, or omnichannel support, developers are building time consuming ad hoc solutions. The Spree Commerce hub provides an automated platform with built in integrations for these systems so you can skip the drudge work of integration and focus on selling,” said Schofield.
In 2011, the company raises $1.5m seed investment. True Ventures led the funding round, while AOL Ventures and a local angel, Sean Glass, also participated.