Elastic Path Raises $90 Million in 2022 | Martech Edge | Best News on Marketing and Technology
GFG image
Elastic Path Raises $90 Million in 2022

digital commerce technology

Elastic Path Raises $90 Million in 2022

Elastic Path Raises $90 Million in 2022


Published on : Dec 7, 2022

Following 200% YoY Growth, Funding To Accelerate Elastic Path Leadership in Composable Commerce

Elastic Path, the leader of the Composable Commerce Movement, is marking the end of 2022 with a total of $90 million in financing, 200% year-over-year growth in bookings, and 221 product releases. The $90 million includes $60 million announced in February, plus a recent addition of $30 million in growth funding led by Sageview Capital with participation from additional existing investors. This new capital will allow Elastic Path to accelerate its leadership in Composable Commerce.

Composable Commerce enables brands to curate a best-of-breed solution that provides the flexibility to fit their unique business requirements. With any multi-vendor approach, there’s an added complexity of integrating, managing, and troubleshooting disparate technologies, which can become prohibitive to brands. Elastic Path is dedicated to reducing the complexity and risk of a multi-vendor approach by providing unparalleled partnership, enabling all brands to leverage Composable Commerce. In 2022, this commitment was showcased by the company’s launch of EP Payments, a pre-integrated payments solution; the release of the D2C Starter Kit, a composable frontend framework, available as open-source code on the company’s Github; and the creation of an Integrations Hub, a central repository of pre-built low code integrations. These advancements reduce the potential risk of a composable approach and empower brands to realize the benefits of Composable Commerce.

Additional highlights from the past year include:

“Sageview Capital partners with industry-disrupting companies that are redefining legacy initiatives,” said Jeff Klemens, partner at Sageview Capital. “Our ongoing confidence in the team at Elastic Path is predicated on their commitment to leading and championing a new era in Composable Commerce. We look forward to a long partnership and continued innovation.”

“Never has there been a more exciting time in the history of digital commerce, proven by a demand to adapt to rapidly changing market dynamics which we are addressing with Composable Commerce,” said Jamus Driscoll, CEO at Elastic Path. “We are grateful to partners like Sageview Capital and others for sharing in our vision and trusting our team to deliver solutions for customers in an ever-changing industry.”