Australian cloud-based e-commerce fulfilment software startup Temando has completed a $50 million Series B capital raising round from European mailing solutions, digital communications, and shipping services provider Neopost.
Temando announced the completion of the capital raising effort on Wednesday, saying that the funds would be used to invest in further product development in the Asia-Pacific region.
The company is also eyeing rapid growth prospects in the United States and the United Kingdom following the funding round, which it said would help it expand into new markets by leveraging Neopost's global footprint.
Neopost chairman and CEO Denis Thiery said that the investment in Temando will expand his company's fast-growing portfolio in the communication and shipping sectors.
"It provides us with technologies that complement our existing offering in shipping management, especially e-commerce, compliance control, and full landed costs," said Thiery. "This transaction is a unique opportunity to extend our footprint among online retailers and fulfilment service providers."
Temando's latest cash injection follows the AU$5 million Series A round it received from James Packer's Ellerston Capital in 2012, and the AU$1 million seed capital it was granted in 2011.
CEO Carl Hartmann, who founded Temando in 2009 with non-executive director Matt Malady, said that Neopost's strategic stake in the company would provide the momentum necessary to help it create the "most advanced fulfilment platform in the market".
"We are thrilled to have the backing of such a major player in our industry," said Hartmann. "Our mutual technologies will enable retailers to deliver flexible, world-class experiences for their customers."
The company currently claims some notable retailers operating in the Asia-Pacific region among its clients, including Toys R Us, Nike, and ASOS. The company's e-commerce partners include eBay, IBM, Magento, Oracle, and NetSuite, along with fellow Australian startup Bigcommerce.
Magento's former president and serial entrepreneur Bob Schwartz has been appointed to Temando's board of directors, effective from April 8.
The company's capital raising round comes as local e-commerce player Bigcommerce announced its site integration with Chinese e-commerce leviathan Alibaba.com, following a deal struck between the two companies late last year.
The companies have rolled out a custom-built application to the more than 70,000 small merchants running an online store front through Bigcommerce.
Late last month, Bigcommerce announced that former eBay and Intuit executive Lorrie Norrington had joined its board of directors. Norrington joined former Groupon and Amazon executive Kal Raman on the board.
The company claims former Demandware CFO Scott Dussault and former head of engineering at Twitter and Salesforce.com Chris Fry among its board of advisors.
Founded in 2009, the company has received $125 million in funding from SoftBank Capital, American Express, Telstra Ventures, General Catalyst, Revolution Growth, and Floodgate.