The capital — provided as a “loan with an investment component” — will go to toward the company’s cloud commerce products, “including improvements in content, search and insights; things retailers and brands actually need,” said WebLinc CEO Darren Hill.
WebLinc, which currently employs around 150 at its Philly, Vancouver and Toronto hubs, plans to use the cash infusion to further grow its sales and marketing teams.
The company’s Workarea platform offers online retailers “a high return on investment (…) while also providing an unparalleled level of flexibility, customizability and scalability,” said Eric Gonzales, managing director of Montage Capital.
The ecommerce company, founded in 1994, has taken on $20 million in venture capital to date, including $14 million from Radnor, Pa.-based Safeguard Scientifics and the $6 million announced on Thursday. Investors own 40 percent of the company, which was bootstrapped for two decades before taking on investments.
In 2016, WebLinc made its first acquisition by scooping up Canadian software maker OrderBot, bringing aboard a team of 20 and its first hub outside the U.S.
Between Workarea and OrderBot, the company’s client portfolio includes design company Sanrio (of Hello Kitty fame), hardware staple Do it Best Corp., travel guide book publisher Lonely Planet, online news company BuzzFeed and clothiers like Reformation and U.S. Polo Assn.
The company exists in the fiercely competitive landscape of enterprise commerce software, where WebLinc dukes it out against Silicon Valley platforms like Shopify and Magento.
“Since we launched the Workarea Commerce Platform solution last year, the market response has been astounding as our teams have been educating leading commerce agencies and retailers that there is a much better option with our products,” Hill said. “This new funding allows us to accelerate our programs to get our great products in their hands.”-30-
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