Payments & Money Transfer | Vancouver, BC | Founded: 2000 | Employees: 173 | www.elasticpath.com
PHONE: (800) 942-5282 | LINKEDIN PROFILE | BLOOMBERG PROFILE | WIKIPEDIA
Last updated December 10, 2018 | To download a PDF version, click here.
Company Overview
Elastic Path is a digital commerce company based in Vancouver, Ontario which offers omni-channel e-commerce solutions and a variety of tools for digital enterprise platforms. These offerings allow for retailers, distributors, and other enterprises the ability to give customers a simple yet personalized digital experience for customers to seamlessly purchase items when browsing products or receiving advertisements.
Senior Management
Harry Chemko: Co-Founder, CEO (2000-Present). Concurrently: Board Member, Futurpreneur Canada (2005-Present). Previously: Member, Advisory Committee for Small Business and Entrepreneurship (2010-2014). Education: Northwest Community College Dipl. Bus, Finance (1997-1999); BCom, entrepreneurial management Royal Roads University (1999-2000).
Sal Visca: CTO (2011-Present). Concurrently: Board Member, Absolute Software (2014-Present). Previously: CTO Technology Developments, SAP(2008-2010); CTO, Business Objects (2005-2008). Education: Western University, Honors Bachelor of Science, Computer Science.
Brenton Brown: CFO (2014-Present). Previously: SVP Finance, PEER 1 Hosting (2009-2014); Business Development Manager, SingaCert Inc. (2006-2008). Equity Finance Manager, Intel Capital (2003-2006). Education: Bachelors of Arts, University of British Columbia (1988-1992); MBA International Business, University of Edinburgh (1999-2001); MSc Finance, Entrepreneurial Finance, London Business School (2002-2004).
History
Elastic Path was started by Harry Chemko and three other co-founders in 2000 right out of university with a $15,000 loan from a non-profit organization. In 2007 Elastic Path operated the e-commerce operations for the Vancouver 2010 Olympic Online Store. Elastic Path continued to grow and offer more e-commerce solutions for enterprises by launching its Commerce Everywhere Platform in 2013 and continue to innovate and offer more e-commerce solutions and integration with Adobe and Amazon web services.
Funding
Elastic Path has raised $54.2M over five rounds of funding. Four of these rounds accounting for $11.2M were between 2013-2015 with Yaletown Partners, Sageview Capital Partners, BDC Venture Capital and Beedie Capital Partners. Recently in June 2018, Elastic Path raised $43M in series B funding from Sageview capital (lead investor) with Yaletown Partners and BDC Venture Capital.[1]
[1] https://www.crunchbase.com/organization/elastic-path
Key Corporate Developments
Press releases: https://www.elasticpath.com/resources/ecommerce/press-releases
Jun 19, 2018: Enterprise Commerce Leader Elastic Path Closes $43M Series B Fund
Dec 5, 2017: BloomReach and Elastic Path Launch Global Strategic Partnership
Jan 23, 2018: Elastic Path Experiences 100% YOY Growth in EMEA
Business Highlights
Strategy
Elastic Path offers omni-channel e-commerce solutions for enterprises. It provides a service for companies who are looking for cutting edge customer experiences and seamless commerce transactions. They are targeting businesses who are looking for looking for more than the basic shopping cart and payment system ecommerce solution. It provides better customer experience leading to higher conversion.
Products/Pricing
Elastic Path Commerce – Elastic Path Commerce is an enterprise offering, it runs the back end necessary for consumer transactions. As an enterprise service price established based on the customers’ needs and varies. It is a premium over simple generic template e-commerce platform offerings.
Technology
Elastic Path leverages APIs to provide back-end support of e-commerce transactions. Elastic Path can be used both on premise and cloud based deployments (amazon web services).[2] Elastic path also provides augmentation solutions planning.
[2] https://www.elasticpath.com/sites/default/files/Elastic-Path-Commerce-Technical-Brochure3.pdf
Distribution/Logistics
Elastic Path is completely online. It maintains customer support over the phone.
Marketing
Elastic Path has a sales team which targets businesses who would benefit from experiential-e-commerce, they demo their product and have key word searches for business who are looking for e-commerce solutions set up on Google.
Competitors
There are many other options for enterprise ecommerce. Elastic Path has a variety of ecommerce solutions for both B2B and B2C businesses. Elastic Path differentiates itself based off of these new ways to do ecommerce however there are other ecommerce platforms for businesses to choose from, for example:
- Shopify – (Ottawa, ON) Shopify is a ecommerce platform company which offers enterprise ecommerce with templates for stores.
- SAP Customer Experience – (Palo Alto, CA) SAP Customer Experience offers a modern integrated suite that enables a business to manage the full customer experience from lead to sale.
Corporate Profile Created By: Tyler Dales, Ivey HBA