Austin’s Volusion Raises $55M to Further Develop E-Retail Software
Volusion, an e-commerce software maker, has acquired $55 million in venture funding to boost development of its Mozu software aimed at mid-market to large companies.
The Series A round of venture funds were raised from Main Street Capital Corporation, a Houston-based investment firm. Previously, Volusion had raised about $35 million in debt financings.
“This funding is a major milestone in taking our organization to the next level as we move toward an IPO,” Volusion CEO Clay Olivier said in a statement.
The Austin, TX-based company was formed in 1999 and released Mozu a year ago. Its software is designed for entrepreneurs and smaller businesses and enables them to build custom-designed e-commerce sites to sell products, manage SEO and social media, and enable payments and processing. Currently, the company has 40,000 customers—including Disney, Motorola, the Chicago Tribune, and 3M—who made more than $2.8 billion in sales last year.