BETHESDA, MD–(Marketwired – Feb 25, 2014) – Spree Commerce announced today that it has raised $5 million in Series A funding led by Thrive Capital. Also participating in the round were Vegas Tech Fund (led by Tony Hsieh, CEO of Zappos.com), Red Swan Ventures, and existing investors True Ventures and AOL Ventures.
In less than three years, more than 45,000 retailers in over 100 countries have chosen Spree Commerce to power their online business, including established and emerging leaders such as Bonobos, 3.1 Phillip Lim, and Blue Bottle Coffee.
“Spree Commerce technology empowers sellers at any stage of their company’s growth,” said Sean Schofield, CEO of Spree Commerce. “This funding will allow us to build upon our already solid foundation and accelerate the pace of our innovation in the e-commerce space.”
The company’s open source software enables retailers to go to market quickly with fully featured, customized storefronts. According to Github, the largest open source repository worldwide, Spree is now one of the most widely used open source technologies in the world. Almost 500 developers have contributed to the platform, with new features contributed by almost 200 of those developers in the past 12 months alone.
In 2013, the company launched its hub, which automates the connections between storefronts and their backend operations. Hub customers can now easily and reliably connect to their fulfillment providers, accounting systems, ERPs, in-store payment systems, and more. The hub works with all leading storefront platforms, including Spree, Magento, hybris, and more.
“At Bonobos Inc., we launched our women’s brand AYR on the Spree platform and were able to get the new site live in 100 days. On the men’s side, we have implemented the Spree Commerce hub for Bonobos, and it has provided a much better integration between our storefront and our ERP system,” said Andy Dunn, CEO of Bonobos. “The combination of their hub and storefront software is a game changer for our software engineers who now love their jobs, our consumers who get a faster user experience, and our internal teams who are starting to benefit from an integrated platform. I am extremely excited to be on Spree.”
In related news, Spree Commerce is excited to host SpreeConf, its fourth annual developers conference that is sponsored by GoDaddy, Brightcove, Avalara, and General Assembly, among others, and is taking place in New York City from February 26-27. Keynote speakers are Andy Dunn, CEO of Bonobos, Jeff Ma, CEO of tenXer and subject of the hit movie “21,” and Amit Shah, former head of sales at Magento and current CEO of Jirafe. SpreeConf will allow attendees to learn more about the technology Behind the Best Storefronts™, and to compare notes with other developers and retailers who are already using the company’s services.
About Spree Commerce
At Spree Commerce, our mission is to empower the world’s sellers. Spree Commerce began as an open source e-commerce platform in 2008. The modular platform allows for easy customizations and upgrades so developers and store owners can configure it for their specific needs. Spree Commerce’s vibrant, international community has been an important factor in the company’s success. Almost 500 developers have contributed to the Spree® platform, and it is now one of the top open source projects in the world. In 2013, the company launched the Spree Commerce hub. The hub automates back-end operations for storefronts using any platform, not just Spree® software, including stores operated by some of the world’s largest e-commerce retailers.
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