Elastic Path, a Vancouver e-commerce company whose clients include Google (Nasdaq:GOOG) and Louis Vuitton, has landed $5.35 million in follow-on financing.
The latest round of financing was led by the BDC Venture Capital IT Fund. That’s on top of $8 million in debt financing raised from Wellington Financial LP last year and $4 million in growth equity financing from Yaletown Venture Partners.
Elastic Path founder and CEO Harry Chemko said the newest raise will help with the company’s expansion plans.
“This is really helping us expand out our partner channel, both in the Americas and in Europe,” he told Business in Vancouver. “It’s largely marketing, but there’s also a lot more that we’re doing on the R and D and product side as well.”
Founded in 2000, Elastic Path started out as a custom enterprise software developer, then began specializing in e-commerce. The company now employs 150 people, about two-thirds of whom work in Vancouver.
