commercetools Achieves Centaur Status Surpassing the $100M Live ARR Milestone

• commercetools joins an elite subset of the less than 200 unicorns globally
• The composable commerce architect revolutionized how today's leading brands customize their omnichannel experiences

MUNICH, May 3, 2023 /PRNewswire/ -- commercetools, the leader in composable commerce software, today revealed that it is one of Germany's first startups to achieve centaur status –– a designation reserved for private SaaS companies that achieve more than $100 million (USD) in annual recurring revenue (ARR). Driven by its distinct paradigm-shifting cloud-native platform, and increased market penetration through strategic customer experience impact investment, the unicorn has solidified its composable commerce market leadership.

To date, there are less than 200 centaurs, which makes this designation significantly more rare than the estimated over 1200 tech companies that share unicorn status. In 2022, it was estimated that roughly 70 centaurs would emerge, but due to macroeconomic conditions only 50 came to fruition. This milestone is widely viewed as an indicator of a clear path to near-term profitability –– an atypical expectation during economic instability in the global technology sector.

"commercetools' centaur status underscores our strong product market fit, growing customer base both in number and revenues, efficient global team, and scalable go-to-market traction," said CEO and co-founder Dirk Hoerig, "There is a business imperative to be both flexible and scalable in order to adapt and unlock growth opportunities –– especially when there is as much economic disruption, and constant change in digital commerce as there is today. commercetools Composable Commerce platform is essential in enabling commerce innovation and de-risking its implementation."

Through its flexible APIs, commercetools gives brands such as Ulta Beauty, Volkswagen Group, NBCUniversal, Danone, and Sephora the ability to innovate at a pace that allows them to quickly test and implement new consumer-led trends and technologies, and accelerate value creation to meet evolving omni-channel demands.

"commercetools has completely changed how enterprises approach commerce customization, by equipping companies with the ability to respond quickly to their market, competition, and customer demands," said Ping Li, Partner at Accel. "commercetools' momentum and resiliency over the past year has been astounding, and we're confident in their continued innovation and growth."

Notable milestones within the last 24 months include:

Recent Company Highlights 

• Experienced 80% topline growth in 2022
• 130+ new enterprise-sized customers in 2022, and 30+ in Q1 2023
• Acquired Frontastic, launching the integrated commercetools Frontend product to help businesses take advantage of a composable tech without sacrificing time to market
• Announced the close of a $140M financing round at a $1.9 billion valuation

Executive Leadership

• Expanded c-suite with key hires Jen Jones as Chief Marketing Officer, and Michael Sharp as Chief Product Officer, and Kelly Goetsch as Chief Strategy Officer to support commercetools' next stage of growth

Accolades

• commercetools, recognized for both its B2B and B2C digital commerce solutions, was named a Leader in the 2022 Gartner® Magic Quadrant™ for Digital Commerce for the third year in a row
• Named a "Leader" in Business-to-Business (B2B) commerce in The Forrester Wave™: B2B Commerce Solutions
• Google Cloud Industry Solution Partner of the Year Award for Retail Digital Growth

For more information about commercetools, go to www.commercetools.com

About commercetools

The inventor of headless commerce, commercetools is an innovative technology disruptor that has established itself as an industry-leading eCommerce software provider. Today, some of the world's most iconic brands and growth-focused businesses trust commercetools' powerful, flexible, scalable solutions to support their ever-evolving digital commerce needs. As the visionaries behind the modern MACH® architecture movement, commercetools provides customers with the agility to innovate and iterate on the fly, merge on and off-line channels, drive higher revenue, and future-proof their eCommerce business.

Headquartered in Germany, with offices across Europe, Asia, and North America, commercetools is singularly focused on leading a future of limitless commerce possibilities.

SOURCE commercetools