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Elastic Path raises $4.9 million


Vancouver – E-commerce company Elastic Path Software Inc. has secured $4.87 million in equity investments led by BDC Venture Capital IT Fund, with participation from Yaletown Venture Partners and individual investors. The company will use the funds to support development for its patent-pending enterprise commerce products.

“The last few years have seen a real shift from ecommerce to experience-driven commerce,” said Harry Chemko, CEO of Elastic Path. “Brands have been caught off guard with the buying power of Millennials, how they shop and use technology, and how quickly they will switch to a competitor if they have a poor experience. Today, empowered consumers have high expectations when it comes to shopping. They want brands to tell engaging stories. They expect brands to iterate highly personalized offers fast, and in every setting, products must be easily added to the shopping cart. Our platform enables all this and more, influencing the most fickle of customers to stay loyal and spend more.”

The BDC Venture Capital IT Fund is a $150 million fund with offices in Vancouver, Toronto, Ottawa, Montreal and Calgary, focused on early stage, high growth companies in the enterprise, Internet and mobile sectors.

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