commercetools Revenue, Valuation, Funding & Investors

commercetools is valued at $1.9B as of September 2021, a 12.7x multiple on its last reported $150M revenue.

Last commercetools valuation

$1.9B

Series C · Sep 2021

Last commercetools funding round

$138M

Series C · Sep 2021

commercetools revenue

$150M

Series C · Sep 2021

Key investors in commercetools

  • Insight Partners
  • Rewe Group
  • Accel
  • Reimann Investors

commercetools Overview

About commercetools

commercetools is a cloud-native, composable commerce platform enabling B2B and B2C enterprises to build scalable omnichannel experiences across web, mobile, tablet, and POS. Munich-headquartered and recognized as a market leader, the company serves brands like Audi, Danone, Eurostar, NBCUniversal, Sephora, and Volkswagen Group. Launched a decade ago, its API-first architecture supports rapid adaptation to trends without infrastructure constraints.


Founded

2006

HQ

GermanyMunich

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Revenue

$150M (Sep 2021)

Valuation

$1.9B (Sep 2021)

commercetools Valuation

commercetools is currently valued at $1.9B, based on its Series C in September 2021.

The $138M round was led by Accel, with participation from Rewe Group, Reimann Investors and Insight Partners.

commercetools' valuation has grown 6.3x from $300M at its undisclosed-stage round in October 2019 to $1.9B in September 2021, across 2 priced rounds.

commercetools valuation by funding round

Revenue multiple
commercetools valuation by funding round
DateStageValuationRevenue Multiple
Sep 2021Series C$1.9B12.7x
Oct 2019Undisclosed stage$300M-

commercetools Revenue

commercetools' latest recorded revenue is $150M, as of its Series C in September 2021. At a $1.9B valuation, that implies a 12.7x revenue multiple.

commercetools revenue by funding round

commercetools revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Sep 2021$150M$1.9B12.7xSeries C

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

commercetools Funding History

commercetools has raised a total of $300M across 3 funding rounds.

commercetools' first fundraising round was a $17M strategic investment round in September 2018. The most recent completed round was a $138M Series C in September 2021.

commercetools funding rounds

commercetools funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2021Series CAccel (lead); Rewe Group; Reimann Investors; Insight Partners$138M$1.9Bcommercetools is a Munich, Germany-based provider of a cloud-native, API-first e-commerce platform specializing in headless commerce, enabling larger retailers to build customized services like payments, check-out, social commerce, and marketplaces. The company spun out of REWE Group, a major German retailer that remains a customer and investor. It positions itself as a pioneer in composable commerce with an AI-first approach for enterprise-scale digital experiences. On September 13-14, 2021, commercetools completed a $140 million Series C funding round led by Accel, with participation from existing investors Insight Partners and REWE Group (also referred to as Reimann Investors in some contexts). This round valued the company at $1.9 billion post-money, marking a significant increase from its prior $300 million valuation in a $145 million round led by Insight Partners in October 2019. The funding aims to accelerate global expansion, particularly in North America, Europe, and Asia-Pacific, through product development, sales and marketing, strategic acquisitions, and ecosystem partnerships. Total funding raised to date exceeded $300 million across multiple rounds. The investment underscores the booming demand for headless commerce solutions amid rapid e-commerce growth. Accel partner Ping Li highlighted commercetools' role in helping enterprises capture revenue in the global market. At the time, the company had over 200 employees across offices in Munich, Berlin, Jena, Amsterdam, London, Durham (NC), and Singapore, and had earned recognition like Google Cloud Industry Solution 2020 Partner of the Year.
Oct 2019Undisclosed stageInsight Partners (lead)$145M$300Mcommercetools is a German-based provider of headless e-commerce APIs and next-generation commerce software designed for large enterprises, enabling customized payment, checkout, social commerce, and marketplace services. It powers sales for clients including Audi, Bang & Olufsen, Carhartt, Yamaha, and major retail and telco/media brands. Originally spun out from REWE Group, a giant German retailer that remains a shareholder and customer, the company focuses on B2B2B offerings, online-to-offline technology, and disrupting legacy commerce platforms with composable, API-first solutions. On October 21, 2019, commercetools closed a $145 million growth investment led by Insight Partners, with the round valuing the company at around $300 million post-money. Insight Partners' Richard Wells and Matt Gatto joined the board to support international scaling. The funding aimed to accelerate expansion in the USA, Asia-Pacific, and Europe, building on rapid growth over the prior 18 months, including new operations in the UK and APAC. The investment highlighted commercetools' potential in the $25 trillion global retail commerce market, with e-commerce at $3.5 trillion, positioning it as a Shopify-style API solution for enterprises against competitors like Alibaba and Amazon marketplaces. This round preceded a 2021 Series C of $140 million led by Accel at a $1.9 billion valuation, with Insight and REWE participating, marking a significant valuation increase and reflecting booming demand for headless commerce. Total funding raised across rounds exceeded $300 million by 2021, fueling product development, sales, marketing, and partner ecosystem growth.
Sep 2018Strategic investmentRewe Group (lead)$17M-commercetools raised $17 million in a corporate round in September 2018 led by Rewe Group to support market expansion and enhance platform capabilities. The company offers an AI-first digital commerce platform for enterprise growth, recognized as a global market leader in composable commerce. Rewe Group, a major European retail and tourism cooperative, participated as the lead investor in this round and remained a significant shareholder in subsequent financings. This 2018 investment funded international growth into regions including Asia-Pacific, the United Kingdom, Benelux, Scandinavia, and North America. Parent company Rewe Group supported the development, aiming for commercetools to become the market leader in cloud-based eCommerce software for modern retail companies.

Who has invested in commercetools?

4 investors have backed commercetools across its funding rounds, including Insight Partners, Rewe Group, Accel and Reimann Investors.

Lead investors include Accel, Insight Partners and Rewe Group.


commercetools Investors

Investors in commercetools by funding rounds participated
InvestorHQRoundsRoleFirst check
Rewe GroupGermanyGermany2LeadSep 2018
Insight PartnersUnited StatesNew York City, NY2LeadOct 2019

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Acquisitions by commercetools

commercetools has acquired 1 company to date.

Last acquisition by commercetools was on November 19th 2021. commercetools acquired Frontastic for undisclosed valuation.


Latest Acquisitions by commercetools

Frontastic
Description
Frontastic is a Frontend-as-a-Service provider for online retailers, brands, and marketplaces. Its mobile-first solution integrates with APIs to deliver customer-centric experiences with low IT overhead. Established as a standard in the API economy, it enables rapid front-end deployments for e-commerce platforms across Europe.
HQ CountryGermany
HQ City
Münster
Deal Date19 Nov 2021
Valuationundisclosed
EV/Revenue
EV/EBITDA

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commercetools Competitors

commercetools competitors include listed companies like Lightspeed Commerce and Shiprocket, and private ones like Swiftly, Cart.com, fabric and Perk.

Public and private companies comparable to commercetools
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SwiftlyUnited StatesSeattle, WAPrivate--$1B-
Lightspeed CommerceCanadaCanadaPublicly listed$1.2B($13M)$1.2B0.7x
Cart.comUnited StatesHouston, TXPrivate--$1.6B-
fabricUnited StatesSeattle, WAPrivate--$1.5B-
PerkSpainBarcelonaPrivate$300M-$2.7B9.0x
ShiprocketIndiaIndiaPublicly listed$211M($7M)$917M-

commercetools Public Comps

commercetools is still privately-owned, but its public comps include GigaCloud Technology, Xinhua Winshare, Diebold Nixdorf, Nayax, Pine Labs, Vusion, Infomart, Lightspeed Commerce, NCR Voyix and Rezolve AI.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
GigaCloud Technology$1.3B$158M1.6x1.4x12.8x10.6x
Xinhua Winshare$1.7B$248M0.4x0.4x2.9x3.4x
Diebold Nixdorf$3.8B$329M0.7x0.7x8.6x5.5x
Nayax$400M$66M4.2x3.5x25.4x21.5x
Pine Labs$250M$14M8.0x6.4x145.8x32.6x
Vusion$1.7B$313M1.0x0.9x5.6x4.8x
Infomart$121M$31M9.3x8.6x35.9x31.7x
Lightspeed Commerce$1.2B($13M)0.7x0.7x(65.4x)11.0x

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Common questions about commercetools

When was commercetools founded?commercetools was founded in 2006.
Where is commercetools headquartered?commercetools is headquartered in Munich, Germany.
Is commercetools publicly listed?No, commercetools is a private, VC-backed company.
What is commercetools' valuation?commercetools was last valued at $1.9B in its Series C in September 2021.
How much funding has commercetools raised?commercetools has raised $300M across 3 funding rounds.
What was commercetools' last funding round?commercetools' last funding round was a $138M Series C in September 2021, led by Accel.
Who are commercetools' investors?commercetools' investors include Rewe Group, Insight Partners, Reimann Investors and Accel.
What is commercetools' revenue?commercetools' latest recorded revenue is $150M (September 2021).
What is commercetools' revenue multiple?commercetools' latest valuation implies a 12.7x revenue multiple ($1.9B valuation on $150M of revenue).
Which companies are comparable to commercetools?Companies comparable to commercetools include Swiftly, Lightspeed Commerce, Cart.com, fabric, Perk and Shiprocket.
How many companies has commercetools acquired?commercetools has acquired 1 company, including Frontastic.

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