Ecommerce solution Ecwid, which now boasts 500,000 registered merchants in 175 countries and in 45 languages, has closed its Series B investment round. The $5 million funding was led by iTech Capital with participation from Runa Capital (which provided Ecwid's Series A funding).
Ecwid will utilize the investment funds to extend its mobile and social commerce product leadership acording to the company in order to further expand its global distribution partner network and grow its sales and marketing teams.
"Ecwid is popular because it is a true sell-anywhere storefront with universal integration on any online platform. This is a reason it has had stellar growth and profitability with a first round funding of just $1.5 million," says Gleb Davidyuk, managing partner of iTech Capital. "Ecwid's market of small business merchants also is where the ecommerce growth of the next decade will be found. There are millions of sites built with Wordpress, Wix, Squarespace, Weebly and Yola that now can embed a full-featured store in minutes. This is a great business opportunity, a great management team and much potential growth for our shareholders."
What is unique about Ecwid is that merchants are not locked into a single website and can easily create stores on any CMS (e.g., WordPress, Joomla, Drupal) or through any sitebuilder (e.g., Yola, Wix, 1&1, Go Daddy). Ecwid is also Facebook's most popular store builder app, with over 300,000 monthly active users.