Here at Volusion, we’re dedicated to empowering businesses of all sizes to reach new heights of success by providing the most innovative commerce technology, services, and support. Today, we’re excited to share two major announcements that will further advance our abilities to fulfill our vision.
First, we’ve recently completed a $35 million debt financing to help expand our growing portfolio. This financing will be leveraged to further enhance the Volusion platform to serve our small and medium-sized business customers, and to support the new Mozu platform (more below), which is designed to meet the needs of larger, enterprise businesses. These funds will help drive our aggressive goals to better serve the entirety of our customer base, including the ability to grow our team across all areas of the organization.
The financing deal comes from Silicon Valley Bank, with 100% of the funds being invested directly into the company. As opposed to financing our capital needs with venture capital or private equity, debt financing allows us to fully retain the value that will be generated by this investment. In sum, these additional resources will help us pursue new opportunities in enhancing our technologies and services to better support your needs.
Secondly, we’re thrilled to debut our newest enterprise commerce platform, Mozu, at the National Retail Federations’ annual convention and expo in New York City. This revolutionary platform is built to disrupt the commerce industry, being architected with the latest technology to help mid-market to enterprise retailers achieve truly limitless commerce.
Mozu is the only true multi-tenant SaaS platform, built from the ground up to enable endless customization through the most robust API in the industry. Unlike other platforms, Mozu was built after the epic shift toward mobile commerce to better meet the demands of today’s vibrant and diverse marketplace. This API-first platform was designed to advance commerce technology by combining enterprise commerce management, digital experience, and full extensibility into one solution.
Back in September, we announced Mozu for the first time. Since then, we’ve added dozens of clients and partners to be a part of the solution. Expect to see the first Mozu sites launch in Q1 of this year with many more to follow throughout 2014.
After almost 15 years in the industry, these two developments serve as a catalyst for us to better achieve our mission of empowering businesses, regardless of size, to reach new levels of success. We look forward to working with all of our customers, clients, partners, and networks to shake up the commerce landscape now and into the future.
Thanks for all of your support as we share these milestones—we couldn’t do it without you.