Headless commerce provider Elastic Path adds $30 million in funding
Elastic Path, a headless commerce technology provider, has raised $30 million in a financing led by Sageview Capital with participation from existing investors, CEO Jamus Driscoll tells Axios.
Why it matters: As retailers and brands seek more flexible, customizable software to give them better control over how they function online, headless commerce is growing in popularity.
Flashback: This deal is a fast follow to the $60 million Elastic Path raised in February.
How it works: Headless commerce means the front end is separated from the back end. Elastic Path dubs its approach "composable commerce," and Driscoll says it gives customers complete control over every aspect of their digital architecture.
- The primary interface is an API that enables brands or retailers to choose best-in-class retail technology solutions.
- He likens what Elastic Path offers to a car in which the carburetor (or any part for that matter) can be switched out for a better one without having to replace the entire car.
What's next: Proceeds will go toward sales and marketing, customer support and growth.
- "We feel like our customers are telling us that we've really unlocked a lot of very valuable things for them," he says. "So it's time to open up the aperture on sales and marketing."
Of note: Driscoll declined to comment on the company's valuation or whether it was an up round or down round, as well as on revenue or profitability.
Yes, but: Elastic Path did say it has more than 200% in year-over-year growth in subscriptions bookings this past year.
The bottom line: "It's fuel, and fuel is about trajectory and speed," Driscoll says of Elastic Path's fundraising efforts.