Chain Reaction Ecommerce Raises $5M for Managed Ecommerce Solution

Atlanta, GA (Gawkwire.com) Chain Reaction Ecommerce, Inc. (CRE) a leading provider of open source ecommerce technology and services for fully-managed ecommerce, today announced it has closed a multi-series investment round of funding, with an initial round of $2.5 million with Atlanta-based Total Technology Ventures (TTV).

"The funding from TTV comes at a time of tremendous opportunity in ecommerce and allows CRE to continue cultivating its commercial open source business model," said Michael Valverde, CEO of CRE. "This investment will help us continue to establish CRE as a leader in the emerging category of fully managed ecommerce solutions."

"Chain Reaction has a focused vision of the ecommerce horizon, and how it will help merchants succeed in their online ventures," said Gardiner Garrard, Managing Director of TTV. "They are devoted to an innovative approach to ecommerce that goes well beyond providing their customers with a piece of software."

CRE was founded in 2002 and has over 175,000 merchants who use its popular CRE Loaded software worldwide. CRE also offers full-time, U.S.-based technical support and customer service.

"TTV's involvement shows a deep commitment to the viability of our managed ecommerce business model," adds Valverde. "This will strengthen our ability to serve the small to medium-sized enterprise market with more comprehensive, PCI compliant managed ecommerce solutions moving forward."