Volition Capital has made a $15 million investment in Insite Software, picking up a minority stake.
Insite Software provides business-to-business e-commerce platforms and services to manufacturers and distributors. The investment should help the company expand its product offerings, says Tony Abena, Insight’s CEO.
Boston-based Volition is a growth equity firm. The group’s other investments include chewy.com, an e-retailer that sells pet food, and iPipeline, which provides sales distribution software.
Roger Hurwitz, a Volition managing partner, is joining Insite’s board of directors.
The deal demonstrates investor interest in e-commerce. Recent deals include Tritium Partners’ purchase of a majority stake in Giact Systems, and FedEx Corp.’s acquisition of Genco. For more on the trend, see E-Commerce Will Keep Attracting Investors and Retail Reboot: Investors Snatch Up E-Commerce Services.