January 21, 2016
Posted by: Maggie Ashworth
DevDigital is pleased to announce its role in the purchase of CoreCommerce and its assets, a Nashville-based SaaS (software as a service) eCommerce platform company.
CoreCommerce is an affordable, comprehensive online selling platform for established businesses and entrepreneurs. Founded in 2001, the hosted solutions provide website templates, shopping cart services such as shipping, taxes, payments, and fulfillment. Additional services such as marketing, customer management and inventory control provide its clients the full suite of services to manage their online business. CoreCommerce provides an extraordinary, personal level of service and consulting for its clients, helping them optimize their business processes and maximize their online sales.
DevDigital’s continued growth and strong momentum will be providing resources and developmental expertise as CoreCommerce continues to grow and implement strategic growth objectives, and CoreCommerce will leverage DevDigital's extensive experience in the retail, healthcare, education, and entertainment industries. CoreCommerce has moved its operations to DevDigital’s headquarters in Nashville.
Peter Marcum, Managing Partner of DevDigital, discovered the opportunity several months ago, and through his personal and professional networks, Marcum assembled a like-minded group of entrepreneurs and executives for the deal.
In Peter Marcum’s own words, “This has been a major accomplishment for DevDigital, and it enhances our positioning in 2016 to create more ‘digital platforms’ to enable more than 900 of our clients to do more with less friction, and at less cost. “This investment allows us invest in the expansion of the platform and bring in new talent to grow the business. Matt DeLong, founder of CoreCommerce, has built the company into a solid enterprise, and a feature rich, reliable platform for online businesses worldwide”
The purchase included a total of five new stakeholders, and consists of the following:
· Michael Thompson- New CEO of CoreCommerce, and former SVP of Sales and Marketing at Fleet One
· Peter Marcum- Managing Partner at DevDigital
· Dr. Turner Nashe- President at IDS
· Brendan McDonnell- Executive at Medical Ventures, Inc.
· DevDigital, LLC
Matt DeLong, founder of CoreCommerce will remain on as a key partner, and Michael Thompson, former SVP of Sales and Marketing for Fleet One, has been retained as the new CEO. Thompson says he is “thrilled to lead CoreCommerce. Our integration with over 100 payment gateways and 3rd party tools; our multi-currency, multi-lingual support; and our full PCI-DSS level 1 certification for payments uniquely position us as a world class provider of a safe, reliable, scalable eCommerce platform for our B2C and B2B clients in the United States and around the world”.