VTEX Secures $140 Million Investment Led by SoftBank
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Nov 26, 2019--
VTEX Cloud Commerce Platform, a leading e-commerce platform serving brands and retailers in 28 countries, has closed a $140 million investment round from SoftBank’s Latin America fund in conjunction with Gávea Investimentos and Constellation Asset Management. The investment will support VTEX’s continued global expansion and advancements to its cloud commerce offerings.
“For the past four years, we’ve focused on building a platform that enables global commerce by unifying our clients’ operations online and offline,” said Mariano Gomide, co-founder and co-CEO of VTEX. “During that time, we’ve opened US and EU offices and strengthened our position in Latin America. This investment from SoftBank and its partners validates our dedication to delivering a scalable, secure, global unified commerce platform.”
With a compounding organic growth of 43% per year in the last five years, VTEX has become one of the largest global players in the Digital Commerce market. Headquartered in London, the company has been recognized by IDC and Gartner as a player to watch, based on the user experience VTEX delivers, its ease of configuration, and its rapid time-to-implement.
In the beginning of 2019, VTEX purchased UniteU, an e-commerce platform based in the US. “Acquiring UniteU was only the first step of a responsible and consistent expansion of VTEX in the US. We have big plans to accelerate our continued global growth and product innovation,” said Gomide.
VTEX provides commerce solutions to 2,500 global brands, including Levi’s, Sony, Walmart, L’Oréal and Motorola. The company’s innovations include a patent-pending passwordless checkout called SmartCheckout™, an architectural network of microservices to seamlessly deliver continuous updates, and the company’s VTEX IO serverless development framework that enables clients to develop scalable, production-ready web applications for global commerce without infrastructure complexity.
“Becoming the global power in unified commerce platforms for medium and large companies is our goal,” said Geraldo Thomaz, VTEX’s other co-founder and co-CEO. “With this investment, we will be able to invest more in R&D, respond to market demands faster, and deliver a more robust product that leverages AI to take us into the future of commerce.”
“VTEX has three attributes that we believe will fuel the company’s success: a strong team culture, a best-in-class product and entrepreneurs with a profitability mindset,” said Paulo Passoni, managing investment partner at SoftBank’s Latin America fund. “Brands and retailers want reliability and the ability to test their own innovations. VTEX offers both, filling a gap in the market. With VTEX, companies get access to a proven, cloud-native platform with the flexibility to test add-ons in the same data layer.”
Riverwood, who invested in 2014, continues to be a relevant shareholder, betting into VTEX’s new phase.
VTEX is the only multitenant commerce platform that unifies customer experiences across all channels into a comprehensive enterprise solution. With an auto-scaling cloud infrastructure and a powerful set of tools, the platform accelerates the commerce transformation of complex operations. VTEX is trusted by Sony, Walmart, Whirlpool, Coca-Cola, Stanley Black & Decker, Nestlé and over 2,500 online stores in 28 countries. In 2018, the company was named a major player on IDC MarketScape Worldwide SaaS and Cloud-Enabled B2C Digital Commerce Platforms and ranked in Gartner’s Magic Quadrant for Digital Commerce. As a result of the platform’s cutting-edge infrastructure, as well as its numerous native integrated solutions (more than 1,000 partners strategically positioned globally, including marketplaces, SI’s, payment and logistics companies) that add to its excellent functioning, VTEX continues to lead in an industry where many companies are providing outdated services. Visit www.vtex.com.
About Gávea Investimentos
Gávea Investimentos is an independent asset management boutique focused on Emerging Markets, founded in 2003 by Arminio Fraga and Luiz Fraga. It has two main lines of business: Private Equity Funds and Global Macro Hedge Funds. Since 2006, Gávea deployed approximately USD 5.0bn in Private Equity, with an emphasis on supplying growth capital to Brazilian companies via minority investments with shared governance rights. Gávea has partnered with 55 local companies over the course of five Private Equity Funds, of which 46 have been fully divested, including 12 IPOs in Brazil and abroad. www.gaveainvest.com.br/en/empresa
Constellation is one of the leading independent investment firms in Brazil, with more than 20 years of experience in investing in Brazilian companies. Constellation has a fundamental long-term investment horizon, a collaborative approach with its invested companies and a proven track record. The firm currently manages USD 2.0bn in capital, mostly from long-term international institutional investors. The company is structured as a partnership, and its Executive Team has worked together for more than a decade. For more information on Constellation, please visit the website: https://constellation.com.br/en/home-en/.
Riverwood Capital is a private equity firm that invests in high-growth, middle-market companies in the technology, technology-enabled, and other related industries. Riverwood offers a unique combination of operational, strategic, technology, and financial insight to portfolio companies that typically need growth capital and expertise to scale. The firm invests in established businesses with dynamic management teams, proven technology and business model, and the proper fit in terms of culture and values. Riverwood invests globally and participates in both minority and control deals. The firm has offices in Menlo Park, CA; New York, NY; and Sao Paulo, Brazil. Please visit www.riverwoodcapital.com.
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