Summary List Placement
The coronavirus crisis led to a surge in e-commerce transactions and subsequently triggered an unexpected spike in traffic on VTEX, the cloud-based e-commerce platform which helps large retailers like Walmart, Coca Cola, and Levis manage and improve their online sales.
“At some point in the middle of February, we started saying, ‘Traffic is growing,'” Amit Shah, VTEX’s chief strategy officer, told Business Insider. “By March, we saw that, essentially across the platform, we were having the level of order volume that you see on Black Friday.”
That momentum drew more investor attention to the 20-year-old company which just raised $225 million in a Series D funding round led by Tiger Global, Lone Pine Capital, Constellation, Endeavour Catalyst and SoftBank.
The monster round followed a $140 million raise last November, for a total of $365 million in the past 10 months.
“Most of that money still sits in the bank,” Shah said. “The company was profitable last year. It’s been profitable this year. And I think what happened is, once investors started to see and figure out that online commerce platforms are actually doing well, we started getting inbound interest from both private equity technology funds and public hedge funds.”
Here’s the pitch deck VTEX used to raise its Series D round:
Source:: Businessinsider – Tech