PowerStores Raises Funding, Rebrands As Webware.io

Goa-based PowerStores eCommerce Ltd. has raised an undisclosed amount of funding led by Toronto-based Extreme Venture Partners and William Bissell (invested in personal capacity). Besides, the company has also rebranded itself as Webware.io.

“The name change to Webware.io reflects the company’s ability to serve more than just the ecommerce market with a shopping cart solution,” said, Cory York, co-founder and CEO of Webware.

Founded in 2011 by Cory York and Indrajit Chowdhury as PowerStores, (now Webware.io) is a complete tool kit designed to help small businesses easily navigate the digital world. Its technology platform provides everything small businesses need to manage and grow a successful online presence, from designing and building websites & online stores, to SEO Marketing services and creating loyalty programs.

With services embedded into the Webware platform, businesses can access all the tools they need from one easy-to-use workspace.

The raised funds will be used to support Webware.io’s expansion across North America as the company targets over 30 Mn small and medium businesses.

Just last year, the company established its Toronto office and already has 10 employees and 500 customers there. Besides, it is also planning to expand its sales and marketing team in Toronto in the coming months to support its growth plans.

In 2013, the company had raised $2 Mn from a Hong Kong-based investor.

Other ecommerce SaaS platforms operating in the space include Shopify, Magento among others.

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