Ecwid announces $5 million in Series B funding from iTech Capital and Runa Capital

ecwid-screenRussian-born e-commerce platform Ecwid announces that they have raised $5 million in Series B from domestic investors iTech Capital and previous backer Runa Capital. Along with news of the investment, the company announces that they have reached 500K users for a service that allows retailers to simultaneously add an online store to any platform and any site.

Ecwid said they will use the funding to expand its sales and marketing teams, continue to develop its global distribution partner network, and to extend its mobile and social commerce product leadership. As part of the team, iTech’s Gleb Davidyuk will also join the Ecwid board.

The company who helsp customers to set up shops by themselves on Facebook, initially raised $1.5 million in 2011 from Runa Capital, which allowed it to expand to 175 countries and offer its service in 45 languages. Over the past few years, Ecwid has developed one of the leading Facebook apps for developing online stores, claiming 300K monthly active users.

Commenting on the deal, Ecwid president Jim O’Hara says that “this new round of funding allows us to help merchants converge their online and offline sales through our POS and mobile POS integration, so they can sell their products anywhere at any time, online or offline, and from any device”.

Within this market, Ecwid faces off against plugins like Cart66, WooCommerce (on WordPress), Shopp, and EDD and storebuilding-sites like Shopify and ShopLocket.

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