Digital River, the most experienced global ecommerce enabler for established and fast-growing brands, saw strong success in Q1 of 2020 as the company continues to grow its partner ecosystem and implement its modular strategy. That includes Digital River’s newest partnership with Magento, an Adobe company and leading provider of commerce innovations for merchants and brands across industries. Digital River’s extension to the Magento platform allows brands to build a customizable solution to expand into new global markets using Digital River’s world-class global payments and risk protection services.
Additionally in Q1, Digital River secured $50 million in incremental funding, led by Siris Capital Group, LLC, to advance Digital River’s modular strategy and support acquisition opportunities that will enhance Digital River’s position as a leader in global payments and back-office solutions for ecommerce brands.
Reliability through unprecedented times
The end of Q1 2020 brought companies worldwide unprecedented challenges, with a particularly fast-moving and dangerous global pandemic. Digital River has addressed that challenge head on, putting it on solid footing heading into Q2. Prior to the outbreak of COVID-19, Digital River already had a crisis management team in place as well as a detailed business continuity plan that included contingencies for a global pandemic.
As a company used to working remotely worldwide, Digital River employees were well-positioned as shelter at home orders were issued in various countries and states. Over the past year Digital River updated employee laptops, strengthened VPN capacity, and moved operations entirely to the public cloud, which enables employees to work remotely and securely with ease worldwide. These steps allowed Digital River to continue serving its customers without interruption.
“Worldwide, the need for ecommerce has never been greater, or more apparent,” said Digital River CEO Adam Coyle. “Our customers and partners will remember how we performed during this crisis, and that is a powerful opportunity for Digital River to demonstrate our commitment to both as we navigate this uncharted territory.”
Additional ecosystem partners
The success of Digital River’s strategy hinges on the continued expansion of its partner ecosystem, which saw robust growth in Q1 2020. Digital River is strengthening existing partnerships in addition to entering into new agreements with system integrators that enable brands to connect with Digital River’s API-powered solutions. The newest members of the Digital River ecosystem include:
- Magento — combining Digital River’s world-class global payments and risk protection services with the flexibility and control of the Magento platform.
- WordPress VIP — provides Digital River’s enterprise clients with the infrastructure they need to seamlessly deliver content-rich digital experiences at scale. With an emphasis on agility, flexibility and security, WordPress VIP’s experts bring over a decade of experience powering high-traffic applications for top brands.
- In addition, Digital River entered into partnership with nearly a dozen system integrators in Q1, representing work in the top ecosystems worldwide.
- CO-WELL
- Earth Technology
- eWave
- Fortuitas
- Isobar
- PixelMEDIA
- rtCamp
- Sau/Cal
- Silk
- Tryzens
- Wagento
“Having a strong partner ecosystem allows us to give our customers best-of-breed options and the most flexibility for the best possible outcome for their business,” explained Mike French, vice president of partnerships and alliances at Digital River. “It’s a powerful combination that respects a brand’s expertise in shaping their customer experience while Digital River shoulders the risk and complexity of entering new global markets.”
What’s new for customers:
Digital River is constantly innovating to ensure customers have the tools needed to maximize growth. In Q1 that included new payment methods on its APIs: Korea Cyber Payments, encompassing Payco, bank transfer and cards.
Additionally, Digital River has expanded Klarna, an efinancing option, to locals in the U.S., U.K., Sweden, Norway, Finland, Denmark, Netherlands, Germany and Austria.
Share the knowledge
Be sure to listen to Commerce Connect, Digital River’s podcast showcasing the brightest minds in ecommerce who share their journey to success. Available wherever you get your podcasts.
