Miami software company raises $9.3 million in funding

PrestaShop, a Miami-based e-commerce software company, on Thursday announced it has secured $9.3 million in a Series B funding round led by XAnge Private Equity, Seventure Partners and Serena Capital.

Since its launch in 2007, PrestaShop has helped 165,000 online merchants process more than $15 billion in sales with its open source e-commerce software solution, allowing it to more than double revenues over the past two years and exceed $11.7 million in fiscal 2013, the company said. PrestaShop’s freemium business model allows merchants to build and manage an online store at no cost; merchants can also opt for customized services and choose from thousands of features, modules and templates for additional fees.

This new financing will fuel PrestaShop’s growth and international expansion, accelerate product development and support new marketing initiatives, said Bruno Lévêque, co-founder and co-CEO of PrestaShop, which has 20 employees in Miami and 80 globally. PrestaShop's other CEO is Benjamin Teszner, based in France.

The company previously raised $5.57 million through angel investors and a Series A round led by Serena Capital.

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