CommerceHub Announces Strategic Investment from Insight Partners
ALBANY, N.Y., Dec. 2, 2020 /PRNewswire/ -- CommerceHub, a leading provider of ecommerce solutions for enterprise retailers and brands, today announced a strategic investment by global venture capital and private equity firm Insight Partners. This investment will accelerate CommerceHub's platform innovation and expand its solutions to realize the company's digital supply chain vision.
CommerceHub helps more than 15,000 retailers, brands, and distributors achieve over $25 billion in Gross Merchandise Value annually. CommerceHub's leading ecommerce enablement platform connects demand, supply and delivery to help retailers and brands to increase sales by expanding product assortment, promoting products anywhere consumers are, and enabling rapid, on-time customer delivery.
With the dramatic and ongoing shift to ecommerce that has been intensified due to the COVID-19 pandemic, CommerceHub's mission-critical solutions enabled retailers and brands to operate at peak holiday levels throughout 2020. As a result, the company's online order volume increased nearly 80% year-over-year since March.
"This investment represents yet another new and exciting chapter for CommerceHub," said Frank Poore, Founder and CEO of CommerceHub. "Insight Partners shares our vision that all commerce has become ecommerce and together, we will continue our efforts to advance the capabilities of the digital supply chain."
"CommerceHub has established themselves as a leader in drop-ship ecommerce, and we believe they will continue to transform the way retailers and brands digitize their supply chains, drive revenue, and improve the customer experience," said Deven Parekh, Managing Director at Insight Partners. "The company has achieved incredible growth to date, and we are excited to partner with them to help execute their digital supply chain vision."
CommerceHub's existing investors, GTCR and Sycamore Partners, will continue as investors in the company.
"As we continue to see massive disruption in retail, having a resilient and agile supply chain is imperative for retailers and brands, and CommerceHub is uniquely positioned to deliver a strategic advantage in a capital-efficient manner," said Mark Anderson, Managing Director at GTCR. "We look forward to working with the teams at Insight Partners, Sycamore Partners and CommerceHub to drive continued innovation and growth."
"Thousands of retailers, brands and distributors rely on CommerceHub's mission-critical solutions to power their online endless aisle and an exceptional customer experience," said Peter Morrow, Managing Director at Sycamore Partners. "We are excited to continue our partnership with the CommerceHub team, GTCR, and now Insight Partners as CommerceHub embarks on its next phase of growth."
CommerceHub is a leading ecommerce enablement platform connecting supply, demand and delivery that helps retailers and brands increase sales by expanding product assortments, promoting products on the channels that perform, and enabling rapid, on-time customer delivery. With its robust platform and proven scalability, CommerceHub helps more than 15,000 retailers, brands, and distributors achieve over $25 billion in Gross Merchandise Value annually. Visit commercehub.com.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Technology, Media & Telecommunications, Growth Business Services, Healthcare and Financial Services & Technology industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $18 billion in over 200 companies. For more information, please visit gtcr.com.
About Sycamore Partners
Sycamore Partners is a private equity firm based in New York. The firm specializes in consumer, retail and distribution investments and partners with management teams to improve the operating profitability and strategic value of their business. Sycamore has approximately $10 billion in assets under management. The firm's investment portfolio currently includes Belk, CommerceHub, Hot Topic, MGF Sourcing, NBG Home, Pure Fishing, Staples North American Delivery, Staples United States Retail, Staples Canada, Talbots, The Limited and Torrid.