Berlin, 17.12.2020. Project A joint venture company Spryker raises a 130 million USD Series C funding round led by Technology Crossover Ventures (TCV). Spryker is the operating platform for all online commerce. The company provides a cloud-based eCommerce operating system which can be customized to clients’ needs and use cases in a Platform-as-a-Service delivery model. Project A is a pre-seed investor in Spryker since 2014 and remains the largest shareholder.
“Spryker has found an excellent product-market fit and grown into a leading cloud-based eCommerce operating system”, Thies Sander, General Partner at Project A, states. “The team around Boris Lokschin and Alexander Graf has delivered extraordinary achievements in the past 12 months, with Spryker now serving major clients. We are convinced that Spryker’s journey will become a global one.”
Project A supported Spryker’s journey by rendering operational support in business intelligence, marketing, sales and product management. Spryker will use this funding to expand its proven B2B and Enterprise Marketplace products as well as to expand in the US.
Boris Lokschin, Co-Founder & CEO at Spryker Systems, says: “With more industries beyond traditional retail building transactional business models we enable our global enterprise customers at any touchpoint. Verticals like Food & Beverages, Manufacturing, Services or FMCG transform to become composable enterprises and demand for cloud native, modular commerce technologies to power their sophisticated B2B, Enterprise Marketplace or Unified Commerce initiatives. They want the platform to respond to digital best practises and enable shorter time-to-value, better TCO and faster innovation which always was Spykers DNA. With TCV we are happy to have one of the most reputable global growth funds joining us to support our global, US centric, expansion as well as groundbreaking product roadmap.”
Read the full story of Spryker's latest funding round at Techcrunch.