San Diego, California-based Ecwid is a software-as-a-service platform that lets anyone
set up their own online store and includes tools for creating websites, managing orders and inventory, and accepting payments. It also offers a white label version
, allowing third-party agencies, site builders, hosts, and point-of-sale platforms to bundle ecommerce stores into their respective services without having to build the technology themselves.
Ecwid said the additional $42 million will "fuel aggressive growth," including a hiring spree it expects will double its headcount. The company added that it plans to buy out some of its earlier-stage investors, including Runa Capital and ITech Capital. Ecwid's latest investment was led by Morgan Stanley Expansion Capital and PeakSpan Capital.