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Shopify Closes $15 Million Series B Funding

Submitted by on October 18, 2011 – 2:00 pm

Ottawa-based Shopify, closed a $15 million Series B growth investment from Bessemer Venture Partners, FirstMark Capital, Felicis Ventures, and Georgian Partners yesterday. Back in 2010, the eCommerce platform closed $7 million of Series A funding. The funding will be used to help to hire more developers, and continue to build out to their platform. Also the company will use the funding to launch The Shopify Fund.” This $1 million dollar fund will be used to encourage and finance developers to create ecommerce add-ons that plug into the Shopify platform. Nearly one hundred such Apps have already been created by individuals, startups, and established businesses like QuickBooks, MailChimp, Hubspot, and Olark. More information on The Shopify Fund can be found at www.shopify.com/fund .

Shopify was launched in 2006 to help businesses by creating a simple to use platform that allows them to create a professional online store. Today they have over surpassed 15,000 active online stores in 80 countries are powered by the Shopify platform.

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Dave Forde

Dave “The Connector” Forde has been involved in the technology industry across Canada for over 10 years in sales and marketing roles, he launched PR In Canada, and on Profectio.

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