After selling business-to-consumer ecommerce firm Magento for $190 million, the company’s founders have moved on to business-to-business commerce with OroCommerce.
B2B ecommerce is expected to grow from $780 billion in 2015 to $1.1 trillion by 2020, according to market researcher Forrester Research.
Oro is an open-source business applications company that is geared toward B2B ecommerce. The West Hollywood, Calif.-based company was started by Yoav Kutner, former chief technology officer of Magento, and his former Magento colleagues Jary Carter and Dima Soroka.
They created OroCommerce to address the complexities of a wide range of B2B ecommerce operations needs, including managing corporate accounts and buyer-seller relationships with multiple organizations, customizing catalogs, managing price lists for different customer groups, and automating business workflows for multiple customers and channels.
“After more than a decade of experience with open source business applications, we saw an acute demand from B2B businesses for an ecommerce solution that was truly agile and easily customizable,” said Kutner, in a statement. “We developed OroCommerce to offer the most complete set of out-of-the-box ecommerce features, all of which can be tailored to fit a given business’ unique needs.”
The platform integrates easily with existing business applications, such as ERP, CRM, and product information tools, while offering an intuitive, user-friendly front end for buyers, the company said.
B2B businesses already represent an opportunity twice the size of consumer ecommerce, which was about $325 billion in 2015.