What a year 2023 has been! With 2024 already upon us, we want to share some of our most memorable moments from the past 12 months—the achievements and milestones that made us proud and happy as a company and team.
1. We raised $13M to fuel our growth
We started 2023 with a bang, closing a $13 million strategic growth funding round led by private equity firm Zubr Capital, with participation from Highland Europe—our existing investor.
This support has been invaluable in helping us achieve our team expansion goals for the year, among other crucial efforts. Our sales, marketing, and customer success teams doubled in size, and our R&D and services teams grew by 20%.
2. Industry recognition
We’re humbled and grateful for the recognition we received from industry analysts in 2023. OroCommerce was recognized in the 2023 Gartner® Critical Capabilities for Digital Commerce Report for our B2B, B2B2X, and B2C capabilities, complex catalog and business workflow management, and multisite and multi-region support.
We’re also incredibly proud to have been named a leader in the IDC MarketScape: Worldwide B2B Digital Commerce Applications for Midmarket Growth 2023-2024 Vendor Assessment.
2. Growth in transactions processed on OroCommerce
Our goal is to enable our customers to reach more markets, more buyers, and more sales. And we’re delighted to see the results of our efforts reflected in our customer’s transaction numbers.
In 2023, OroCommerce customers transacted $3,022,960,110 worth of orders! That is a remarkable 22% increase compared to 2022.
3. Existing customers are thriving
From increasing sales and conversions to improving customer satisfaction and loyalty, our customers have seen remarkable outcomes from their investments in 2023.
Here are some of their growth highlights and how they used our platform to reach new heights:
- PartsBase, the world’s largest aerospace buying and selling community, launched a new transactional marketplace, PartStore 2.0, powered by OroCommerce in April 2023.
- Wastequip launched a new website on OroCommerce and enhanced their product shipping experience with an updated payment gateway and shipping rules.
- Interstate Batteries launched both a B2B and B2C site and since go-live in April 2022, they have sold an impressive 60,000+ units on the B2B site alone.
- Alliance Marine, an equipment solution provider to the leisure boating and commercial marine industry, launched 4 additional websites for its brands.
- A multinational dairy products manufacturer chose OroCommerce as their single eсommerce solution for their entire group. They expanded OroCommerce to 3 more countries in 2023, and are now working on the B2C version and further localizations.
- With three websites already live on one OroCommerce instance, a chemical specialist, Addev Materials, launched one more website to reach another country.
Last year, we worked with customers from different verticals, such as fast-moving consumer goods (V&B), building materials (Ardex), and manufacturing (CTech Manufacturing) to create ecommerce sites that suit their specific needs. We’re proud of how OroCommerce enabled them to handle complex B2B scenarios, expand their market reach, and streamline their operations.
4. New customers
We welcomed many new customers to our roster in 2023, including UFPI, a building materials manufacturer, Industrial Fans Direct, a supplier of HVAC solutions, Quimiconsult, a chemical supplier, and Ciranda, a global supplier of organic ingredients.
5. Our partner network expanded
Our partner ecosystem grew throughout 2023 to include many solution integrators and technology companies.
One thing is for sure—we have set the bar high for our 2024 partnership efforts!
What’s Coming in 2024?
We’re grateful for the support and dedication of our team, customers, partners, and investors, who helped us achieve amazing results in 2023.
Last year, we launched OroCommerce 5.1 with new features like enhanced search functionality, product bundling, and optimized backend to help our customers create a strong and resilient brand online.
In 2024, we’ll double down on building a flexible, feature-rich B2B ecommerce platform. We’ve already given you a glimpse of what’s coming with the announcement of AI features, but there’s so much more to come, so stay tuned!
