CommerceGuys raise $5 Million, ISAI is looking better than ever

European StartUp Scene

Yesterday, CommerceGuys announced their series A funding round, led by Paris-based Alven Capital. CommerceGuys’ flagship product Drupal Commerce is an open-source framework now in use in over 10,000 websites worldwide. Drupal Commerce offers a range of capabilities, including the ability to upload catalogs of merchandise, accept payments online, integrate with shipping services and interact with customers.
If eCommerrce solutions don’t excite, perhaps the fact that the company has a distributed staff at such an early stage will. With only 37 employees, CommerceGuys have employees in Jackson, Michigan, as well as in Paris. It would appear that consolidation is not going to happen in the near future, as the company said that the new round of funding will be used to create 30 new jobs, half in the US location, and half in Paris.
With Shopmium and Comtuto, this marks the third ISAI company to receive follow-up funding since last December; hopefully, as the assurance of a good ROI becomes more and more definite, ISAI will continuing doing what it does bests- investing in startups. After all, by my count, they’ve still got enough money under management for. 30 more investments.
ISAI also participated in the series A, which is the first time they’ve done a follow-up investment, if I recall correctly.

One Response

  1. J-David Chamboredon

    Liam
    thx for the very nice post !
    A few comments though, for the sake of being fully accurate:
    – Jackson is in Michigan
    – the Shopmium deal led by ISAI followed by Accel was a first investment for the 2 investors not a refinancing
    – ISAI did invest in Covoiturage Series B round led by Accel, so this one is our second participation to a folllow-up round
    – we still have some good money but we will probably add 5 to 10 companies to our portfolio, not 30 !
    Thx again
    JDC

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