Vancouver-based e-commerce platform LemonStand has secured $1.25 million in seed-stage financing. The backers of the round included BDC Capital IT Venture Fund and angel investors Barry X. Lynn, Paul Rochester and Hank Massey. Founded in 2010 by CEO Danny Halarewich, LemonStand is a provider of customizable, cloud-based technology that supports web developers, agencies and brands in creating online stores. It said it plans to use funds raised to invest in continued product development and to accelerate the company’s recruitment of new partners.
LemonStand raises $1.25M for its eCommerce platform focused on web designers
May 3, 2016
VANCOUVER, Canada – LemonStand, the refreshingly customizable cloud eCommerce platform, announced today that it has secured an additional $1.25M in seed funding from BDC Capital, Silicon Valley based angel investors Barry X Lynn, Paul Rochester, Hank Massey and several other angel investors.
The company will use the proceeds to invest in continued product development and to accelerate its recruitment of new web designer and agency partners. “LemonStand has broken the mold for cloud based eCommerce platforms,” said Matt Roberts, Associate Director, IT Venture Fund, BDC Capital. “They give web designers and agencies full control over the online shopping experience. Through a highly customizable solution they provide the tools and support needed to drive better results for the retailers they work with.”
Targeting a trillion dollar online retail market that is growing at over 20% per year according to eMarketer, LemonStand’s eCommerce platform is aimed squarely at growth oriented small and mid-sized online retailers, who often work with web design agencies on their brand and marketing strategy. Built on a secure and scalable cloud based architecture, LemonStand combines the ease of use and operational benefits of the cloud with the power and flexibility web designers usually only find with open source and enterprise platforms.
“We built LemonStand for web designers and their fast growing clients. They no longer want to work with outdated, complex, and high maintenance server based platforms, but have been frustrated with the limited flexibility of the many cloud based ‘do-it-yourself’ solutions out there,” says LemonStand Founder and CEO Danny Halarewich. “Anyone who’s had success growing an eCommerce business knows that slapping up an online store in 15 minutes that looks just like hundreds of others out there isn’t good enough.”
“LemonStand’s theming engine is the best by far; easy to use with complete flexibility,” says Jeff Rabkin, President and Creative Director at digital agency Wowza in Minneapolis. “Their partner community and support is amazing, we just don’t get that kind of personal touch and quality from anyone else.”
With a growing base of hundreds of web design and agency partners in over 15 countries, LemonStand’s investment plans center around continuing to build the best solution, tools and community for web designers, agencies and fast growing retail brands.
For more information or a free trial, visit LemonStand at lemonstand.com
LemonStand’s eCommerce platform helps web developers, agencies and fast growing brands create beautiful online stores that stand out from the crowd and sell more. LemonStand combines the simplicity and low overhead of the cloud with the power and flexibility to customize the entire user experience that is usually only achievable with open source or enterprise platforms. This makes LemonStand the best choice for small and mid-sized retailers who are serious about growing their business.
About BDC Capital
A subsidiary of the Business Development Bank of Canada (BDC), BDC Capital offers a full spectrum of specialized financing and investment solutions to help Canadian entrepreneurs achieve their full growth potential. With more than $1.6 billion under management, BDC Capital takes a strategic, patient approach to nurture companies’ development over the long term.
From venture capital and equity, to growth and transition capital, our team of over 100 experienced, local professionals partner with entrepreneurs to identify and meet their needs on flexible terms. Some of the sectors in which we specialize include IT, industrial/clean/energy technology, and healthcare. For more information, please visit www.bdccapital.ca or follow us on Twitter at @BDC_Capital.
For press inquires, please contact:
VP Growth, LemonStand
912 – 525 Seymour St. Vancouver, BC
Canada V6B 3H7
Photo courtesy of LemonStand eCommerce Inc