BigCommerce Sees B2B at 40% of Platform Spend, Growth Outpaces B2C

For BigCommerce, the tailwinds are in place for business-to-business (B2B) eCommerce hypergrowth.

Fresh off the heels of its purchase of BundleB2B, BigCommerce CEO Brent Bellm noted on a conference call with analysts that B2B is tied to an ever-larger percentage of spending on the firm’s platform.

In response to analyst questions on the roadmap for B2B — a relatively smaller part of the firm’s business at present — Bellm noted: “The future could not be brighter for us as a SaaS platform.”

He noted that B2B generates about a third — but growing over time to 40% — of total platform spend.

“And the growth rates are double that of B2C,” he told analysts.

In addition to its purchase of BundleB2B, BigCommerce last month launched a partnership with lender SellersFunding to bring working capital directly to the platform’s sellers.

BigCommerce has estimated that global B2B eCommerce market is projected to hit $25.65 trillion by 2028, expanding at more than 18% annually.

BigCommerce reported that total revenue was $66.1 million, up 42% compared to the first quarter of 2021. ARR from accounts with at least one enterprise plan was $189 million as of March 31, 2022, up 68% from March 31, 2021.Overall Bellm said that CEO companywide growth came despite “post-pandemic normalization of e-commerce and consumer spending.” In supplemental materials released alongside earnings, BigCommerce estimated that the worldwide digital commerce applications revenue, by business model, is growing by 18% for B2B, vs. 10% for B2C, as measured by compound annual growth rate.Near-term priorities in the wake of the BundleB2B deal include embedding the acquired company’s functionality into BigCommerce’s native user experience, management said on the call.CFO Robert Alvarez said that “our continued mix shift into enterprise plans, partner and services, revenue (or PSR) was up 23% year over year.” Accounts with annual contract value above $2,000 gained […]

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