CommerceHub Announces Strategic Investment from Insight Partners
ALBANY, N.Y. - CommerceHub, a leading provider of ecommerce solutions for enterprise retailers and brands, today announced a strategic investment by global venture capital and private equity firm Insight Partners. This investment will accelerate CommerceHub's platform innovation and expand its solutions to realize the company's digital supply chain vision.
CommerceHub helps more than 15,000 retailers, brands, and distributors achieve over $25 billion in Gross Merchandise Value annually. CommerceHub's leading ecommerce enablement platform connects demand, supply and delivery to help retailers and brands to increase sales by expanding product assortment, promoting products anywhere consumers are, and enabling rapid, on-time customer delivery.
With the dramatic and ongoing shift to ecommerce that has been intensified due to the COVID-19 pandemic, CommerceHub's mission-critical solutions enabled retailers and brands to operate at peak holiday levels throughout 2020. As a result, the company's online order volume increased nearly 80% year-over-year since March.
"This investment represents yet another new and exciting chapter for CommerceHub," said Frank Poore, Founder and CEO of CommerceHub. "Insight Partners shares our vision that all commerce has become ecommerce and together, we will continue our efforts to advance the capabilities of the digital supply chain."
"CommerceHub has established themselves as a leader in drop-ship ecommerce, and we believe they will continue to transform the way retailers and brands digitize their supply chains, drive revenue, and improve the customer experience," said Deven Parekh, Managing Director at Insight Partners. "The company has achieved incredible growth to date, and we are excited to partner with them to help execute their digital supply chain vision."
CommerceHub's existing investors, GTCR and Sycamore Partners, will continue as investors in the company.
"As we continue to see massive disruption in retail, having a resilient and agile supply chain is imperative for retailers and brands, and CommerceHub is uniquely positioned to deliver a strategic advantage in a capital-efficient manner," said Mark Anderson, Managing Director at GTCR. "We look forward to working with the teams at Insight Partners, Sycamore Partners and CommerceHub to drive continued innovation and growth."
"Thousands of retailers, brands and distributors rely on CommerceHub's mission-critical solutions to power their online endless aisle and an exceptional customer experience," said Peter Morrow, Managing Director at Sycamore Partners. "We are excited to continue our partnership with the CommerceHub team, GTCR, and now Insight Partners as CommerceHub embarks on its next phase of growth."