Ecwid Scores $5M In Series B

San Diego-based e-commerce software developer Ecwid said this morning that it has closed a $5M, Series B funding round. According to Ecwid, the funding was led by iTech Capital, and also included Runa Capital. Ecwid said that Gleb Davidyuk of iTech Capital joins the company's board with the funding. Ecwid said it will use the funding for further developing its product, expanding global distribution, and for sales and marketing. Ecwid develops e-commerce software specifically aimed at helping small and medium sized businesses built their own, e-commerce stores. The firm got its start as X-Cart, a PHP shopping cart. More information »