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Open-Source E-Commerce Platform, Spree Commerce, Raises $5 Million in Series A

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Spree Commerce announced yesterday that it has raised $5 million in a Series A round. This puts the running total amount at $6.5 million for the company, adding on to their initial seed funding of $1.5 million led by True Ventures in 2011.

The recent round of funding was led by Thrive Capital, with participation from Red Swan Ventures, Tony Hsieh’s Vegas Tech Fund, and existing investors True Ventures and AOL Ventures. “This funding will allow us to build upon our already solid foundation and accelerate the pace of our innovation in the e-commerce space,” said CEO Sean Schofield in yesterday’s press release.

The Bethesda, MD-based company provides an open-source e-commerce platform that allows online retailers to quickly and easily create full-featured, customized storefronts on the Internet. Because of its open-source nature, a brand’s software engineers can easily add features to Spree’s platform, per the brand’s specific needs. According to the press release, Spree’s open-source platform has become one of the most popular projects on GitHub, with nearly 500 developers having contributed to the platform since their launch in 2008.

Spree Commerce is currently being utilized by more than 45,000 retailers in over 100 countries, including popular brands and companies like Bonobos, 3.1 Phillip Lim, and Blue Bottle Coffee.

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About the Author

Ronald Barba is a staff writer and the East Coast reporter for Tech Cocktail. Formerly a DC native, he's now based in New York City. He reports on the Boston, Chicago, D.C., and NYC tech scenes. He's especially interested in venture capital, M&As, and tech/business trends. Aside from startups, Ronald is interested in philosophy, cognitive science, politics, social justice, pop culture, and all things geek. He reads Murakami and Barthes, and alternates binge watch sessions of 'Doctor Who' and 'The Mindy Project'. Got something to say? Then email me (ronald@tech.co). Follow me on Twitter: @RonaldPBarba. Subscribe to me on Facebook. Find me on Google.

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