Ecommerce giant BigCommerce raises $50 million to intensify push into Asia

Australian ecommerce giant BigCommerce today announced that it has raised a massive US$50 million series D round. The round was led by Softbank Capital, whose partner Steve Murray will join the board and help to accelerate its growth in Asia – one of its main target markets – according to TechCrunch.

“We’re really excited about Steve Murray. The Asia component is on board. Now that we have a very strong US presence, the question is what can we do to solidify our ability to expand internationally as well. We think we can learn a lot from Alibaba. It is phenomenal, the fastest-growing company on the planet, and we can help them grow as well,” Eddie Machaalani, BigCommerce’s co-founder and CEO, told TechCrunch.

Telstra Ventures, American Express, General Catalyst, and Revolution Growth also participated in the round. Both Telstra Ventures and American Express are new investors, and will support BigCommerce’s growth in Australia and the US – where 70 percent of its vendors are located – respectively.

Being able to dominate the Asian market, though, will be pivotal to BigCommerce’s success. According to eMarketer’s prediction earlier this year, 2014 will mark the year where Asia-Pacific finally overtakes the US in ecommerce purchases. To be more specific, Asian consumers will spend roughly US$525.2 billion, compared to the US$482.6 billion North American consumers are expected to spend.

See: Alibaba joins hands with Australia’s Bigcommerce to lure in more merchants globally