Finnish VC firm Open Ocean Capital has taken part in investing to a French company, Commerce Guys. The size of the round is $5 million in total and other investors that participated include Alven Capital and ISAI, the French entrepreneurs’ fund. Commerce Guys are the creators of Drupal Commerce, one of the leading eCommerce solutions working with Drupal. Commerce Guys looks to serve internet merchants by helping them leverage the Drupal platform for their online stores. Open Ocean Capital is famous for supporting companies building value on top of open source projects, for example the likes of Drupal.
With the new funding, Commerce Guys looks to add 30 new staff members – half of them in their Michigan based US offices. Currently the company employs 37 employees split between Paris and their Michigan offices. With this round, the total amount of funding for the company comes to $6 million.
What makes this news significant is that there have been very few times national investors in the Nordic and Baltic countries invest outside of the region. We’re well aware of some of more established angel investors doing this through services such as Angel List, but having locally operated VC firms invest in this large rounds is quite rare. A similar recent took place when Danish Sunstone Capital invested into Berlin based Gidsy.
Open Ocean Capital is based in Espoo, Finland and has been the first major owner of MySQL AB, that was later sold to Sun Microsystems for $1 billion.