Score yet another one for open source startups: Prestashop has raised $9.3 Million from XAnge, Seventure & Serena Capital in order to “fuel global expansion,” the startup announced this week. Founded by Bruno Leveque with offices in Miami, Florida & Paris, France, the company announced that it had 165,000 active online stores & a 600,000 member community.
Having managed over $15 Billion in sales for its customers platforms, the startup has been doing quite well, given the close competition with Shopify ( who raised $100 Million last December), Magento (acquired by eBay for $160 M in 2011) and now even the likes of GoDaddy, who announced an easy eCommerce solution in February. The company also toils with fellow startup TicTail, ‘Tumblr for eCommerce,’ which announced an $8 Million fundraising earlier this year.
The new funding will help Prestashop expand its marketing budget, but also its product offering and visibility. If it is looking to following the footsteps of Shopify, you can expect an official Prestashop Point-of-Sales product to come out in the near future.
Prestashop isn’t the first Open Source software startup to see great growth in France either. Sensio Labs, the creators of Symfony, raised $7 Million in December ’13, and Bonitasoft’s open source Workflow & BPM Software is a worldwide leader in its space (the company raised a $13M last May).
Leave a Reply
You must be logged in to post a comment.