Commercetools raises $145M from Insight for Shopify-style e-commerce APIs for large enterprises

Global retail commerce is expected to be a $25 trillion business this year, with e-commerce accounting for $3.5 trillion of that, and today one of the companies that has built a set of tools to help larger enterprises sell to consumers online has raised a large growth round to meet that demand. Commercetools, a German startup that provides a set of APIs that power e-commerce sales and related functions for large businesses, has raised $145 million (€130 million) in a growth round of funding led by Insight Partners, at a valuation that we understand from a close source is around $300 million. The funding comes at the same time that commercetools is getting spun out by REWE, a German retail and tourist services giant that acquired the startup in 2015 for an undisclosed amount.