Volusion Secures $55 Million in Financing
Ecommerce platform Volusion has raised an additional $55 million in venture capital funding.
The financing was led by Main Street Capital Corporation, and the funds will be used mainly for the development of the company's enterprise platform Mozu, which launched in January 2014.
"Supporting Volusion's vision as they generate significant growth with the Mozu platform is a natural fit for us," said Dwayne Hyzak, Chief Operating Officer and Senior Managing Director of Main Street Capital Corporation, and recently added member of Volusion's Board. "Not only do we look forward to Mozu creating even more waves in the enterprise ecommerce space, but we are very excited about the opportunity to expand Volusion's proven model of success and profitability."
The funds will also be used to further develop the Volusion SMB ecommerce platform, including a new administrative interface and sophisticated theme engine to be released later this year.
"This funding is a major milestone in taking our organization to the next level as we move toward an IPO," said Olivier. "We now have the additional capital injection needed to further disrupt the industry by widely expanding Mozu's modern technology while also better serving the small–and-medium-sized business community with Volusion. We couldn't be more excited about the opportunities in front of us."