VTEX raises $225M Series D and joins the unicorn club

LatamList — VTEX, an e-commerce company, raised a $225M Series D funding round from various investors. SoftBank, Endeavour Catalyst, Tiger Global, Lone Pine Capital, and Constellation were among some of the contributors to the round.

VTEX is a developer of a cloud-based eCommerce strategies which offers an end-to-end omnichannel commerce platform for companies. The software allows companies to increase sales and reduce overhead by eliminating channel conflicts with partners and suppliers.

The startup will use the funding to strengthen its balance sheet. VTEX plans to make new acquisitions, grow the team, and continue to expand throughout the U.S., Europe, and Asian-Pacific markets. The funding round also awards VTEX unicorn status, with a valuation of $1.7B.

“We have been profitable for the past 10 years, but the new funding allows us to invest in the product. In addition, this is an attractive market for others to enter, so we want to keep our leadership position,” said Amit Shah, Chief Strategy Office and US General Manager at VTEX.

The platform has seen a 98% growth during the pandemic and now works with over 3,000 online storefronts across the world.

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