Digital River Announces $50 Million in Incremental Funding to Accelerate Evolution as a Global Ecommerce Enabler
Digital River, the most experienced global ecommerce enabler for established and fast-growing brands, announced today that it has raised a total of $50 million in incremental funding to accelerate its transition into a premier provider of API-based global ecommerce solutions.
The investment, led by Siris Capital Group, LLC (“Siris”) and with participation from several of Digital River’s existing co-investors, will help Digital River accelerate the development of its modular offering that enables brands to create best-of-breed ecommerce solutions to grow revenue, streamline operations, and protect businesses from risk. Additionally, the funding will support acquisition opportunities that complement Digital River’s mission of being the preferred global payments and back-office solution for brands that sell online.
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Creating long-term relationships with customers is essential for brands building a direct-to-customer channel, whether they operate in a B2C or B2B environment. To help cultivate these critical customer relationships, Digital River recently transformed its offering by unbundling its commerce stack into modular solutions that enable brands to focus on creating customized user experiences while enjoying the benefits of a seamless and consistent operating model in markets across the globe.
“Ecommerce is expanding rapidly worldwide and is experiencing consistent double-digit growth,” said Dan Moloney, executive partner at Siris and executive chairman of Digital River’s Board of Directors. “Digital River’s success over the past few years in modularizing its solution and building a growing partner ecosystem demonstrates that it is well-positioned to help companies build a robust, global ecommerce solution that is customized for each business’ unique needs. Siris is excited to continue partnering with the Digital River team to support its vision of helping brands successfully sell into markets worldwide.”
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“Digital River has helped many well-known brands build strong direct-to-customer ecommerce channels by taking on the back-office complexities of selling online globally, including functions such as payment processing, tax and compliance management, and fraud mitigation,” said Adam Coyle, CEO of Digital River. “With this investment, we are doubling down on building our global infrastructure to ensure brands can offer their customers the Onshore Advantage™: a fully-localized buying experience with a seamless and consistent operating model across worldwide markets – a combination proven to drive higher sales and greater customer satisfaction.”
In addition to growing its global capabilities, Digital River will use the capital to continue building its partner ecosystem, offering a fully integrated solution for brands to manage and fulfill orders across a multitude of commerce and digital experience platforms.
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