BigCommerce Rides AI Wave, Exceeds $300 Million in Annual Revenue

BigCommerce, a leading provider of B2B and B2C ecommerce technology, announced its 2023 financial results, revealing a significant reduction in net loss compared to 2022. This improvement was attributed to the company’s increased focus on AI technology and the introduction of new ecommerce features aimed at enhancing client conversion rates and sales.

The company’s CEO, Brent Bellm, expressed optimism about the business’s momentum during the fourth-quarter and full-year 2023 earnings call. He highlighted the use of generative AI technology to drive customer growth, emphasizing the launch of “BigAI,” a suite of AI-powered tools designed to improve storefront conversion rates, store operations efficiency, and marketing strategies.

In terms of revenue, BigCommerce reported an 11% year-over-year increase to $309.4 million, contributing to a significant decrease in net loss compared to the previous year. This growth was fueled by the company’s continued investment in technology development, including the launch of Catalyst, a storefront development tool aimed at facilitating the deployment of highly customized ecommerce sites for both B2B and B2C businesses.

Meghan Stabler, Senior Vice President of Marketing, highlighted the capabilities of Catalyst, which works in conjunction with Makeswift, a visual editing tool acquired by BigCommerce. She explained that Catalyst enables developers, agencies, brands, and retailers to rapidly build customized storefronts using composable architecture, allowing for greater flexibility and customization.

Bellm also discussed other notable developments, including the launch of BigAI Copywriter, which utilizes generative AI technology to streamline workflow processes by generating high-quality product descriptions tailored to businesses’ voices and target audiences. Additionally, he mentioned plans to introduce product recommendations powered by Google’s AI technology, allowing customers to provide personalized suggestions to shoppers in real time.

For the fourth quarter of 2023, BigCommerce reported a 16% year-over-year increase in revenue to $84.1 million, with subscription revenue rising by 14% to $60.6 million. The company also saw growth in enterprise accounts, with the number of accounts increasing by 4% to 5,994.

Overall, BigCommerce’s focus on AI technology and ecommerce features has positioned the company for continued growth in the increasingly competitive B2B and retail ecommerce market. With a commitment to innovation and customer success, BigCommerce remains at the forefront of driving ecommerce evolution.

Read Also: BigCommerce Presents The Next Big Thing – Experience Commerce Without Compromise