Hotmart Company raises US$130 million in investment round led by TCV

Amsterdam, March 30, 2021 – Hotmart Company, a leading global cloud-based platform that empowers creators to build, run, manage, and grow their digital businesses, announced today that it has raised US$130 million in a Series C funding round led by TCV. Alkeon Capital also participated in the round. Valuation has not been disclosed, but Hotmart continues to build on its previously secured unicorn status. The proceeds from this round will be used for growth initiatives including product innovation and international expansion, both organically and through mergers and acquisitions.

This financing comes as Hotmart continues to experience significant growth and advances in its international expansion strategy. Today Hotmart has active creators in over 100 countries, powering transactions of digital products and services to millions of consumers in more than 185 countries. In 2020, Hotmart entered into a business combination with Teachable, a New York-based company that is one of the category leaders in the U.S. The combined gross merchandise value (GMV) transacted on the platform more than doubled compared to the previous year.

“Hotmart is at the forefront of the passion economy, helping creators go beyond content monetization and actually building an online business. By providing the tools for creators to leverage their knowledge, we are fueling a new model of internet-powered entrepreneurship”, says João Pedro Resende, CEO and co-founder of Hotmart.

“We are pleased with the contribution from our existing shareholders, including Koolen & Partners, General Atlantic, GIC and Accomplice. Since our beginning, we have had the opportunity of drawing from the experience and business support of global long-term partners, and this transaction with TCV further strengthens our shareholder base”, continues João Pedro Resende. “TCV has supported technology companies that are leaders in their sectors, such as Netflix, Spotify, Airbnb, Facebook and Linkedin. We are excited to welcome the new shareholders and to learn from their experience to continue growing our business.”

“As one of the largest digital enablement platforms, Hotmart is mission-critical for creators around the world to thrive by doing what they love and sharing their knowledge with consumers,” said Neil Tolaney, General Partner at TCV. “We are absolutely thrilled to work with JP and team to best empower entrepreneurs globally to accomplish their dreams.”

About Hotmart Company
Hotmart is one of the world’s leading digital enablement platforms with a diverse and fast-growing ecosystem of creators and consumers. Its all-in-one, cloud-based technology platform integrates the features and functionalities that creators of all sizes need to build, run, manage, and grow their digital businesses.
Founded by João Pedro Resende and Mateus Bicalho in 2011, the company has around 1,300 employees in 12 offices around the world (Netherlands, U.S., Brazil, Spain, Mexico, Colombia and France), and many open positions available – especially in Product, Development, and Growth areas. If you want to learn more about Hotmart, and our exciting career opportunities, visit www.hotmart.com.

About TCV
Founded in 1995, TCV provides capital to growth-stage private and public companies in the technology industry. Since its inception, TCV has invested over $14 billion in leading technology companies and has helped guide CEOs through more than 125 IPOs and strategic acquisitions. TCV investments include Airbnb, Believe Digital, Dollar Shave Club, EA, Expedia, Facebook, LegalZoom, Netflix, Peloton, Spotify, Zillow, and more. In addition, TCV has made significant investments in financial technology and payments companies throughout the world, including Klarna, Mambu, Mollie, Nubank, Payoneer, Revolut, Toast, Wealthsimple and WorldRemit. TCV is headquartered in Menlo Park, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit https://www.tcv.com/.

Media Contacts:
Hotmart – Mariana Rosa – mariana.rosa@hotmart.com
TCV – Katja Gagen – kgagen@tcv.com


Commerce Technology Provider Spryker Announces $130 Million Financing Round Led by TCV to Accelerate U.S. Centric Global Expansion to Enable Transactional Business Models

NEW YORK AND BERLIN (PRWEB) DECEMBER 17, 2020

Spryker, a fast-growing commerce technology for global enterprises, today announced that it has raised over $130 million in a Series C financing round, led by Silicon Valley-based TCV. Existing investors One Peak from London and Project A Ventures from Berlin also participated in the round.

The funding will be used to expand Spryker’s proven B2B and Enterprise Marketplace products and create a compelling 3rd party technology AppStore. Spryker also intends to grow its international footprint with a focus on the U.S., which already accounts for 10% of its annual software revenue. With $7 billion in annual spend, the potential in digital commerce software is massive — and Spryker is rapidly increasing its market share. Spryker also intends to grow its global talent to maintain its innovative edge and continue to build new products for future use cases and touch points, including IoT commerce, subscription, and click & collect.

Used by over 150 global customers, Spryker accelerates the deployment, time-to-value, and transformation towards transactional business models beyond e-Commerce, retail, and desktop. These benefits stem from Spryker’s innovative headless and API-based architecture, combined with a modular packaged business capabilities (PBC) design. The cloud native PaaS (Platform as a Service) delivery model empowers sophisticated businesses that have outgrown SaaS (Software as a Service) and on-premise single tenant models. As more companies shift to become “composable enterprises“ led by multidisciplinary “fusion teams”, Spryker is at the forefront of this movement having pioneered and predicted these approaches.

Founded in 2014, Spryker has been growing its recurring revenue more than 100% annually. The global team counts more than 250 employees with over 35 nationalities, working out of offices in Germany, USA, U.K., Netherlands, and Ukraine. Spryker recently pioneered a “New Work” model, offering remote first options for talent worldwide. Spryker is expanding operations in the U.S. in early 2021 to continue its rapid growth and support global customers, such as Ricoh, Siemens, and Toyota.

Spryker was named the most innovative and visionary of all new vendors in the Gartner Magic Quadrant for Digital Commerce, recognized as a major player in B2B e-Commerce by IDC, and has partnered with leading global software integrators.

Boris Lokschin, Co-Founder & CEO at Spryker Systems said:

“With more industries beyond traditional retail building transactional business models we enable our global enterprise customers at any touchpoint. Verticals like Food & Beverages, Manufacturing, Services or FMCG transform to become composable enterprises and demand for cloud native, modular commerce technologies to power their sophisticated B2B, Enterprise Marketplace, or Unified Commerce initiatives. They want the platform to respond to digital best practices and enable shorter time-to-value, better TCO, and faster innovation which always was Spyker’s DNA. With TCV we are happy to have one of the most reputable global growth funds joining us to support our global, U.S.-centric expansion as well as groundbreaking product roadmap.”

Gopi Vaddi, General Partner at TCV who will be joining Spryker’s board of directors, said:

“We at TCV are pleased to partner with Boris, Alex, and the team at Spryker in their effort to provide a modern commerce platform that revolutionizes the deployment model with packaged business capabilities. With the acceleration of the digital adoption curve in the global pandemic, there has never been a better time for customers to rethink their digital commerce strategy.”

Bob Burke, Venture Partner at TCV, said:

“Digital commerce is a strategic priority for enterprises operating across consumer (B2C), business (B2B), direct to consumer (D2C) and marketplaces. Spryker offers a next-generation solution with a modular, API-first solution that is extensible with the ever-changing business & technology needs of enterprise organizations. We look forward to supporting the Spryker team as they expand internationally and empower businesses in their digital transformation.”

David Klein, Co-founder and Managing Partner at One Peak, said:

“Similar to how Hybris and Demandware led the first wave in commerce infrastructure software solutions, Spryker is now leading the way with a best-of-breed, highly scalable cloud platform which drives sales for its customers. Boris, Alex, and the Spryker leadership team have done an outstanding job in hyperscaling the Company to a global leader in the past three years since our investment, and we are thrilled to continue to support their expansion into the US and beyond.”

Florian Heinemann, General Partner at Project A Ventures, said:

“Since its founding in 2014, we have been excited about Spryker’s development and growth. We are confident that with this new funding and the world-class team, they will become one of the global leaders in e-commerce software. New transactional business models require innovative technical implementation and Spryker is the best solution we know of to do this. For many companies with sophisticated business models, Spryker is the right partner, especially in B2B and marketplaces.”

Oscar Jazdowski, Co-General Partner at SVB, global banking Partner of Spryker said:

“SVB is excited to be part of Spryker’s growing success story. We are extremely impressed by the management team and are convinced that their commerce solutions are building the backbones of today’s enterprises. We are confident that Spryker will successfully scale globally, and we are pleased to provide support with funding and expertise across Spryker’s core markets in Germany, EMEA, and the U.S.”

With $130 million raised in this round, Spryker’s company value exceeds $500 million which makes it one of the fastest growing enterprise commerce software companies ever.

About Spryker:

Founded in 2014, Spryker enables companies to build transactional business models in B2B, B2C, and Enterprise Marketplaces. It is the most modern platform-as-a-service solution with a headless architecture that is cloud-enabled, enterprise-ready, and loved by developers and business users worldwide. Spryker customers extend their sales reach and grow revenue with a system that allows them to increase operational efficiency, lower total cost of ownership, and expand to new markets and business models faster than ever before. Spryker solutions have empowered 150+ companies to manage transactions in more than 200 countries worldwide. Spryker is trusted by brands such as Toyota, Siemens, Hilti, and Ricoh. Spryker was named the most innovative and visionary of all new vendors in the Gartner Magic Quadrant for Digital Commerce and named a major player in B2B e-Commerce by IDC and is the only commerce platform to provide full B2B, B2C, D2C and Marketplace capabilities out of one stack. For more information about Spryker please visit Spryker.com.

About TCV:

Founded in 1995, TCV provides capital to growth-stage private and public companies in the technology industry. Since its inception, TCV has invested over $14 billion in leading technology companies, including more than $2 billion in fintech, and has helped guide CEOs through more than 125 IPOs and strategic acquisitions.

TCV’s investments include Airbnb, AxiomSL, Dollar Shave Club, ExactTarget, Expedia, Facebook, LinkedIn, Netflix, Nubank, Payoneer, Splunk, Spotify, Strava, Toast, Xero, and Zillow. In Europe, TCV has invested over $2 billion in companies including Believe, Brillen.de, FlixMobility, Klarna, Mollie, Perfecto, Redis Labs, RELEX Solutions, Revolut, RMS, Sportradar, The Pracuj Group, and WorldRemit. TCV is headquartered in Menlo Park, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit https://www.tcv.com/.

About One Peak:

One Peak is a growth equity firm investing in technology companies in the scale-up phase. The firm provides growth capital to exceptional entrepreneurs with a view to transform innovative and rapidly growing businesses into lasting, category-defining leaders. In addition to Spryker, One Peak’s investments include HighQ, Neo4j, DocPlanner, Keepit, Concentra Analytics, Quentic, Coople, DataGuard, Pandadoc, and Brightflag. To learn more, visit http://www.onepeakpartners.com.

About Project A:
Project A is one of the leading venture capital companies in Europe, with offices in Berlin and London. In addition to $500 M in assets under management, Project A provides its portfolio companies with a wide range of operational support services. This includes more than 100 employees from key areas such as software engineering, business intelligence, marketing, recruiting, and many more. In 2020 Project A was named Germany’s best VC by Business Insider magazine. Project A was founded in 2012 and since then has supported more than 60 start-ups in 12 countries. The portfolio includes companies such as Catawiki, WorldRemit, Homeday, Spryker, sennder, KRY, Trade Republic, and Voi.

About SVB:

For over 35 years, Silicon Valley Bank (SVB) has helped innovative businesses, enterprises and their investors move bold ideas forward, fast. Through its various locations in international innovation centers, SVB offers clients targeted financial services and expertise. No other bank in Germany focuses solely on the innovation economy. Europe’s leading technology and life science businesses, in all stages of development, look to SVB’s niche expertise, experience and unparalleled network, as they grow at home and tackle new markets abroad. Learn more at svb.com/Germany.

Media Contacts:

For more information about Spryker please visit Spryker.com.

Media Contact:

Spryker, press@spryker.com
TCV, Katja Gagen, kgagen@tcv.com, 415 690 6689