Image credit: Hotmart
Brazilian-born Hotmart is a cloud-based e-commerce platform that enables merchants to sell digital products. The platform is for anyone who wants to sell, promote, or buy online courses, videos, subscriptions, ebooks, tickets to events, and other digital media. However, if you don’t have a digital product to sell you can also become affiliated with them, helping them promote while earning commissions for it.
In a recent development, the Amsterdam-headquartered platform that helps creators build, run, manage, and grow their digital businesses, has raised $130M (approx €110M) in its Series C round of funding. The round was led by TCV, which has previously also invested in companies such as Netflix and Airbnb. In addition, Alkeon Capital also participates in this round.
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The current valuation of the company has not been disclosed. However, Hotmart reportedly achieved the ‘unicorn’ status in March 2020, when it raised investment to acquire the US-based startup – Teachable.
The proceeds follow after Hotmart experienced significant growth and advances in its international expansion strategy. The raised capital will be used for growth initiatives including product innovation and international expansion, both organically and through mergers and acquisitions.
Speaking about the investors, João Pedro Resende, CEO & co-founder of Hotmart, says, “We are pleased with the contribution from our existing shareholders, including Koolen & Partners, General Atlantic, GIC, and Accomplice. Since our beginning, we have had the opportunity of drawing from the experience and business support of global long-term partners, and this transaction with TCV further strengthens our shareholder base. TCV has supported technology companies that are leaders in their sectors, such as Netflix, Spotify, Airbnb, Facebook, and LinkedIn. We are excited to welcome the new shareholders and to learn from their experience to continue growing our business.”
Hotmart is a digital enablement platform with a diverse and fast-growing ecosystem of creators and consumers. Its all-in-one, cloud-based technology platform integrates the features and functionalities that creators of all sizes need to build, run, manage, and grow their digital businesses.
The company was founded by João Pedro Resende and Mateus Bicalho in 2011. “Hotmart is at the forefront of the passion economy, helping creators go beyond content monetisation and actually building an online business. By providing the tools for creators to leverage their knowledge, we are fueling a new model of internet-powered entrepreneurship,” says João Pedro Resende.
The company offers features like product and content management, email marketing, affiliate marketing, payment via Hotpay, PCI Compliance and CSE Security, analytics reports, and more. In addition, it also helps affiliates to earn commission by marketing and selling content through private blogs, websites, and other mediums. It charges a commission of 9.90 per cent + BRL $1 for each sale made.
Hotmart has active creators in over 100 countries, powering transactions of digital products and services to millions of consumers in more than 185 countries. In 2020, when Hotmart acquired Teachable, the combined gross merchandise value (GMV) transacted on the platform more than doubled compared to the previous year.
According to the company, it has about 1,300 employees in its 12 offices around the world (Netherlands, US, Brazil, Spain, Mexico, Colombia, and France).
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