[Funding alert] Webscale raises $26M in Series C round
Digital commerce solutions provider Webscale on Thursday said it has closed $26 million (about Rs 189 crore) in growth capital financing from investors and Silicon Valley Bank.
The Series C round was led by BGV, STCAP Ventures and Mohr Davidow Ventures , with participation from Grotech Ventures, a statement said.
The company has raised $53.6 million in funding till date.
Webscale claims to have clocked 108 percent growth in 2020, and powered thousands of storefronts. This growth is expected to continue as merchants demand more flexibility, scale, and security, coupled with fast, simple deployments, for seamless user experiences, it added.
Webscale is designed around the needs of customers, delivering the best of cloud computing, commerce technologies and scalable automated infrastructure, Webscale CEO Sonal Puri said.
"Retailers are more conscious than ever about the security of their online transactions while delivering a flawless shopping experience from store to device. With this funding, Webscale is perfectly positioned to take advantage of these industry shifts and help ecommerce businesses thrive and adapt to the new normal," she added.
A multi-cloud SaaS solution, designed around DevSecOps practices, and featuring the predictive auto-scaling engine, Webscale can serve any merchant, of any size, with any need.
In addition, its recently introduced range of edge solutions address the security and performance gaps in platforms, such as, BigCommerce and Cloud.
“Webscale is providing secure cloud computing, which is the biggest equalizer to all industries in any competitive market. We are excited to partner with them to help them accelerate growth and value, as well as to give them the resources to deliver positive outcomes for the unprecedented growth in this industry," said Dmitry Dakhnovsky, Managing Partner at STCAP Ventures.
Webscale, which has over 100 employees, powers Fortune 1000 brands, including Dollar General, Watsco, Regal Cinemas and thousands of other B2C, B2B, and B2E e-commerce storefronts across 10 countries.
It has offices in Santa Clara, Boulder and San Antonio in the US, Bengaluru and London.