Magento, leading provider of open omni-channel innovation launched as a separate company, backed by Premira funds.

It boasts a strong portfolio of open-source and cloud-based omnichannel solutions

Magento, worldwide leader in eCommerce, powering more than 240,000 sites globally and supporting over $50 billion in gross products volume.

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“Magento is at the forefront of a tremendous market opportunity. As an independent company, with the full support and global resources of the Permira funds, we are poised to accelerate our leadership as innovators, creating products that drive exceptional experiences across every stage of the commerce lifecycle”, said New CEO Mark Lavelle.

“During our time as a division of eBay, Inc., we grew revenue fivefold, made significant investments in our core platform and added innovative mobile and omni-channel products. Now, we will build on this momentum–continuing to innovate with speed and at scale while we put renewed focus on expanding our market leadership with stronger emphasis on our global network of system integrators, technology partners and developer community”, he added.

Magento Marketplace is the largest commerce application marketplace providing merchants with a curated user experience in finding high quality products and services.