Composable commerce firm Myplanet bags $11m in funding
Composable commerce specialist, Myplanet, has received $11 million in funding from Tercera.
It will use the cash for the likes of deepening its MACH Alliance partnerships, and doubling the size of its global talent base.
"We're at an inflection point in commerce. It used to be a shopping cart and a buy button; now it's experiences, subscriptions, consumption and connected devices," says Jason Cottrell, CEO and Founder, Myplanet.
"Composable commerce allows retailers to tap into this future and increase speed, reduce spend and build interconnectedness. With this infusion of capital from Tercera, a firm that deeply understands the space, we can accelerate that shift and become the place to go for composable commerce."
"What cloud did for computing, composable is doing for commerce," says Bill Petty, Partner at Tercera.
"Myplanet's rich history in building digital experiences gave it an inside view into how the space has been evolving and what customers need.”
“We're excited to partner with Jason and his diverse and incredibly talented team to build Myplanet into a global leader and the go to MACH services partner."
Petty, along with Tercera partner Michelle Swan, will join Myplanet's board of directors.
Luxury menswear retailer Harry Rosen tapped the firm to work on its digital transformation push. The use of MACH technologies to build a composable commerce solution helped the project recently win a MACH Award for Best Retail Project.
"Creating high end experiences for our customers is the gold standard for Harry Rosen and working side by side with Myplanet made this programme a resounding success," says Ian Rosen, President and COO at Harry Rosen.
"Myplanet's mix of strategic insights, technical expertise and a willingness to roll up their sleeves, has created a platform that truly sets us apart."
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