A little over a year after raising an $8 million Series A, Orckestra, a Montreal-based provider of cloud-based commerce solutions, announced the closing of a $12 million series B.
Orckestra’s existing investors from its Series A round, the Fonds de solidarité FTQ, Fondaction CSN, and W Investments, led the financing. “With innovations and strategic acquisitions, Orckestra has become a force to be reckoned with. This young Québec-based company is leading the way in the e-commerce solutions market, and its strong potential for growth confirms its leadership role in this promising sector,” said Alain Denis, senior VP of innovation for the Fonds de solidarité FTQ.
This new investment will be used to expand Orckestra’s sales capabilities in North America, support its growing accelerated partner channel with key global partners, and and work on its increased presence in Europe; in September, Orckestra acquired Danish company Composite, and the funds will be used maximize its integration into Orckestra’s offering.
“Our investors are committed to the long-term growth and global scale of Orckestra. Organizations need a more agile digital commerce layer in their business that helps them innovate with new shopping experiences at the speed of consumer demand,” said Louis Fournier, CEO and co-founder of Orckestra. “We continue to see growing interest and traction from customers internationally, and are thrilled to continue the expansion of our business with this new round of financing.”
Orckestra’s Commerce Cloud, which is developed for mid-size and large enterprises, helps retailers, grocers, and branded manufacturers deliver innovative shopping experiences online and in-store. It boasts clients like Sobeys, Giant Eagle, FGL Sports, and Mondou Pet Supplies among its clients.