Elastic Path Inks $4-Million Financing Deal with Yaletown Venture Partners

Jason Billingsley, Elastic Path Software | BCBusiness
Elastic Path Software co-founder Jason Billingsley.

The Vancouver e-commerce software developer announced Monday that it had closed a $4-million equity financing deal

The equity deal between Elastic Path Software Inc. and Yaletown Venture Partners, a Vancouver-based venture capital firm, is the latest round of financing to be announced since the company secured a $8-million debt facility with Wellington Finanical LP, a speciality finance firm based in Toronto. The software developer has raised $12 million in financing over the past two months.

The latest round of funding will allow Elastic Path to “aggressively pursue new business and strategic opportunities in the fast-growing ecommerce software,” according to the company. The partnership will allow Elastic Path to strengthen its dominant position in the digital commerce market, CEO Harry Chemko said in a statement.

The company’s software allows retailers to add monetization features on top of their digital experience, such as personalized pricing and omnichannel promotions. Elastic Path was worked with over 200 global enterprise customers, including Time Inc., Google and Western Union.

Yaletown Venture Partners recently announced financing for North Vancouver startup ePact Network and Solegear Bioplastics, a 2013 BCBusiness Innovator.