Company:Commercetools

From HandWiki
Short description: Headless commerce platform
commercetools
TypePrivate
IndustryE-commerce
Founded2006; 18 years ago (2006)
Munich, Germany
Founders
  • Dirk Hoerig
  • Denis Werner
Headquarters
Munich
,
Germany
Number of locations
12[1] (2022)
Area served
Worldwide
Number of employees
600+[1] (2022)
Websitecommercetools.com

Commercetools, stylized as commercetools, is a cloud-based headless commerce platform that provides APIs to power e-commerce sales and similar functions for large businesses.[2] Both the company and platform are called Commercetools. The company is headquartered in Munich, Germany with additional offices in Berlin, Germany; Jena, Germany; Amsterdam, Netherlands; London, England ; Durham, North Carolina; Zürich, Switzerland ; Sydney, Australia ; Shanghai, China and Singapore.[1] Through its investor REWE Group it is associated with the omnichannel order fulfillment software solutions provider fulfillmenttools and the payment transactions provider paymenttools.[3][4][5][6] Its clients include Audi, Bang & Olufsen, Carhartt and Nuts.com.[7] Commercetools is a founding member of the MACH Alliance.

History

Commercetools was founded by Dirk Hoerig and Denis Werner in 2006.[8][9] It launched its platform in 2013.[7] In 2014, Commercetools was wholly bought by REWE Digital, part of Germany ’s REWE Group.[10][11] Hoerig is credited with coining the term "headless commerce".[12]

In 2018, Commercetools announced a $17 million investment to support its international expansion.[13] It expanded into the U.K market in 2019 with the opening of its London office.[14] In 2020, Commercetools established a presence in Australia, with a team in Melbourne and a data center in Sydney.[15]

In 2019, commercetools raised $145 million from venture capital firm Insight Partners.[15] Insight Partners' managing directors Richard Wells and Matt Gatto joined Commercetools' board of directors as part of the deal.[16][17] At the same time, Commercetools was spun out by REWE. REWE remains a significant shareholder.[10]

In January 2021, commercetools partnered with car manufacturer Volkswagen Group to use the platform for its group brands, including Volkswagen, Bentley, Porsche and Audi.[18]

In May 2021, REWE group announced additional investment into Commercetools to fund growth into the China market.[19]

In September 2021, commercetools raised $140m in its series C round, led by venture capital firm Accel, valuing the company at $1.9 billion.[20]

In November 2021, commercetools acquired Frontastic[21][22] for an undisclosed amount.

In 2022, commercetools was named leader in Digital Commerce by the technological research and consulting firm Gartner together with SAP, Adobe Inc., and Salesforce,[23][24] as well as named leader in the Forrester Wave™ B2B Commerce Solutions, Q2 2022, by Forrester Research a research and advisory company, together with Oracle Corporation and Salesforce.[25][26]

References

  1. ↑ 1.0 1.1 1.2 "commercetools locations". https://craft.co/commercetools/locations. 
  2. ↑ Lunden, Ignrid. "Commercetools raises $145M from Insight for Shopify-style e-commerce APIs for large enterprises" (in en-US). https://social.techcrunch.com/2019/10/21/commercetools-raises-145m-from-insight-for-shopify-style-e-commerce-apis-for-large-enterprises/. 
  3. ↑ Jonas Jansen (2020-09-09). "Rewe verkauft auch Wissen" (in de). https://zeitung.faz.net/faz/unternehmen/2020-09-09/1ea45df6f5d565d5c90a7a8e4929776e/?GEPC=s5. 
  4. ↑ Michael Gerling (2022-09-14). "73.000 Tonnen Papier sparen" (in de). https://www.ehi.org/news/73-000-tonnen-papier-sparen/. 
  5. ↑ Dominik Grollmann (2021-07-05). "Rewe startet eigenen Paymentdienst" (in de). https://www.ibusiness.de/aktuell/db/468953grollmann.html. 
  6. ↑ Stephan Lamprecht (2021-07-21). "Rewe Gruppe gründet Payment-Technologietochter" (in de). https://paymentandbanking.com/rewe-gruppe-gruendet-payment-technologietochter/. 
  7. ↑ 7.0 7.1 Melton, James (2019-10-24). "Headless ecommerce platform vendor commercetools raises $145 million" (in en-US). https://www.digitalcommerce360.com/2019/10/24/headless-ecommerce-platform-vendor-commercetools-raises-145-million/. 
  8. ↑ Wong, Stephanie; Morgan, Carter. "2020 Year In Review: How I Launched This, A SaaS Story" (in en). https://cloud.withgoogle.com/saas/podcast. 
  9. ↑ "commercetools mit weiterem Investmentkapital - VC Magazin" (in de-DE). https://www.vc-magazin.de/blog/2021/05/21/commercetools-mit-weiterem-investmentkapital/. 
  10. ↑ 10.0 10.1 Palmer, Maija; Smith, Tim (2020-11-24). "European tech companies are beating Amazon at its own game" (in en-US). https://sifted.eu/articles/amazon-europe-challengers-1/. 
  11. ↑ "Shopify-Investor pumpt 130 Millionen in commercetools" (in de-DE). 2019-10-21. https://www.deutsche-startups.de/2019/10/21/commercetools-130-millionen/. 
  12. ↑ Lunden, Ingrid. "Italy's Commerce Layer raises $16M led by Coatue for its headless commerce platform" (in en-US). https://social.techcrunch.com/2021/05/26/italys-commerce-layer-raises-16m-led-by-coatue-for-its-headless-commerce-platform/. 
  13. ↑ Pirrone, Gabriella. "commercetools CEO on Global Enterprise Expansion" (in en-US). http://www.cms-connected.com/News-Archive/October-2018/commercetools-CEO-on-Global-Enterprise-Expansion. 
  14. ↑ Walker, Peter. "German e-commerce tech firm enters UK market" (in en). https://www.retail-systems.com/rs/German_Commercetools_Moves_To_UK.php. 
  15. ↑ 15.0 15.1 "commercetools Announces Arrival In Australia" (in en-US). 2020-03-10. https://www.bandt.com.au/commercetools-announces-arrival-in-australia/. 
  16. ↑ Lunden, Ingrid. "Commercetools raises $145M from Insight for Shopify-style e-commerce APIs for large enterprises" (in en-US). https://social.techcrunch.com/2019/10/21/commercetools-raises-145m-from-insight-for-shopify-style-e-commerce-apis-for-large-enterprises/. 
  17. ↑ Melton, James (2019-10-24). "Headless ecommerce platform vendor commercetools raises $145 million" (in en-US). https://www.digitalcommerce360.com/2019/10/24/headless-ecommerce-platform-vendor-commercetools-raises-145-million/. 
  18. ↑ Edwards, Roy (2021-01-15). "Volkswagen selects commercetools for its eCommerce solution -" (in en-GB). https://www.enterprisetimes.co.uk/2021/01/15/volkswagen-selects-commercetools-for-its-ecommerce-solution/. 
  19. ↑ Farrelly, Connor. "REWE Group Invests In Expansion Of Commercetools" (in en). https://www.esmmagazine.com/technology/rewe-group-continue-invest-expansion-132416. 
  20. ↑ "Commercetools raises $140M at a $1.9B valuation as 'headless' commerce continues to boom" (in en-US). https://social.techcrunch.com/2021/09/13/commercetools-raises-140m-at-a-1-9b-valuation-as-headless-commerce-continues-to-boom/. 
  21. ↑ "VC Daily: In Venture Investing, Early Stage Moves to Main Stage" (in en-US). Wall Street Journal. 2021-11-22. ISSN 0099-9660. https://www.wsj.com/articles/vc-daily-in-venture-investing-early-stage-moves-to-main-stage-11637594647. 
  22. ↑ Demery |, Paul (2021-11-22). "Commercetools fills a headless technology gap with Frontastic" (in en-US). https://www.digitalcommerce360.com/2021/11/22/headless-commerce-vendor-commercetools-buys-frontastic/. 
  23. ↑ "Gartner Magic Quadrant for Digital Commerce Platforms 2022" (in en-US). CX Today. 2022-08-24. https://www.cxtoday.com/crm/gartner-magic-quadrant-digital-commerce-platforms/. 
  24. ↑ "2022 Gartner Magic Quadrant and Critical Capabilities for Digital Commerce" (in en). 2022-08-24. https://commercetools.com/resources/analyst-report/gartner-magic-quadrant. 
  25. ↑ "The Forrester Wave™: B2B Commerce Solutions, Q2 2022" (in en). 2022-08-24. https://commercetools.com/resources/analyst-report/forrester-wave-b2b-commerce. 
  26. ↑ Zach Thompson (2022-05-16). "commercetools named a Leader in B2B Forrester report" (in en). https://itbrief.com.au/story/commercetools-named-a-leader-in-b2b-forrester-report. 



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