Vancouver's Elastic Path Software Raises $4 Million from Yaletown Venture Partners

Elastic Path Software today announced a new growth equity financing of $4 million from Yaletown Venture Partners.

The Vancouver-based startup has secured $12 million in financing in the past two months—it raised an $8 million debt facility from Toronto's Wellington Financial in June.

The new funding will allow Elastic Path to "aggressively pursue new business and strategic opportunities in the fast-growing ecommerce software and API commerce markets," according to the Canadian company.

"We're proud to be partnering with the investing veterans at Yaletown, as it further strengthens our dominant position in the digital commerce market," says Harry Chemko, CEO of Elastic Path. "By 2015, analysts project that revenue from digital goods and services will grow 300% faster than ecommerce revenue of physical goods. With this financing, we're in an excellent position to capitalize on that growing opportunity."

"We were attracted to Elastic Path's leadership team, their impressive global list of digital commerce customers, and broad technology portfolio, including Cortex, their patent-pending API solution for embedding commerce everywhere," says Mike Satterfield, Partner with Yaletown Venture Partners. "We believe that enterprises are increasingly looking to API commerce solutions to turn digital experiences into amazing revenue streams, and Elastic Path is at the forefront of that movement."

The Yaletown VC firm has been busy recently: it invested in both Calgary's nFluids and Edmonton's Mover this month.

In a recent research paper commissioned by Elastic Path, Forrester Consulting found that nearly 70% of IT professionals believe that having a unified digital experience is of strategic importance to their company's growth plans. The majority said the way to accomplish that was through an API commerce strategy.


Yaletown Partners
Vancouver, British Columbia, Canada

Yaletown invests in emerging-growth technology companies in Canada that enhance productivity and sustainability for enterprise and industrial customers. Our investments help Canadian technology companies in their initial growth phase to accelerate their growth, shorten exit timeframes and achieve strong exit premiums. With offices in Vancouver and Calgary, Yaletown is led by a team that brings... more

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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more

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