Ex-AOL CEO bets on Bigcommerce

Steve Case to join board after Revolution Growth invests USD$40 million

Steve Case has injected USD$40 million into Australian e-commerce startup Bigcommerce.

Case, the former CEO of America Online, will join the Bigcommerce board after his investment company Revolution Growth put up the cash in the Series C funding round.

The investment, representing the startup’s largest so far, brings Bigcommerce’s total funding to date to $75 million. Bigcommerce said it would use the funding to build out its platform and invest in brand awareness to expand into new vertical and international markets.

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“The team at Revolution Growth has a deep history in e-commerce, from its birth via AOL, to investing in a variety of commerce-based businesses in the decades that have followed,” said Bigcommerce co-founder Eddie Machaalani.

“Their expertise will be invaluable as we look to rapidly scale our platform and grow our customer base.”

“The new investment capital and partnership with Steve Case and Revolution Growth will allow us to improve our technology, hire new employees, and take a leadership role in the e-commerce revolution,” added co-founder Mitchell Harper.

Machaalani and Harper launched the e-commerce platform in 2009 and share the role of CEO.

“Bigcommerce is a big idea that aligns perfectly with Revolution Growth’s philosophy: that technology can enable any entrepreneur, in any industry, located anywhere, to build a successful, high-growth business,” said Case.

“Bigcommerce is the big equaliser,” he added. “Now every entrepreneur can have Amazon-like e-commerce capabilities, in hours – not months or years.”

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Tags BigcommercefundingAmerica OnlineRevolution GrowthVenture capitalSteve CaseStartup

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