Vancouver’s Elastic Path Software Gets $5 Million

elastic

Elastic Path Software Inc., a digital ecommerce software vendor, has raised $5 million in convertible debt and term facilities from Beedie Capital Partners, a BC-based investment firm.

“We are very excited by the opportunity to invest in Elastic Path,” said BCP’s Randy Garg. “While e-commerce solutions have generally been around for well over a decade now, the unique integrated approach being taken by Elastic Path, is being recognized by customers, partners, and the industry at large.”

Elastic Path’s CEO Harry Chemko said the investment comes at a time of “tremendous growth opportunities in our business, driven in large part by the introduction of our Cortex API technology.”

“We wanted to have the flexibility to structure deals with our customers and partners in a manner that was not only best for them, but also for the long term value of our business going forward,” he said. “By having a highly flexible financing structure and partner in Beedie Capital, we are able to now do so while not compromising the size and scope of opportunities being pursued.  We are very excited to have a new partner of this caliber join us.”

Photo from BCTechnology.com