German software maker Spryker raises over $130 million

STOCKHOLM (Reuters) - Germany-based business software maker Spryker has raised more than $130 million in a financing round led by U.S. investment firm TCV, as it seeks to expand in international markets.

The company, which counts Toyota, supermarket group Aldi, Liechtenstein-based manufacturer Hilti and German wholesaler Lekkerland, among its customers, plans to expand in the United States early next year.

“With acceleration of digital adoption curve in the global pandemic, there has never been a better time for customers to rethink their digital commerce strategy,” said Gopi Vaddi, General Partner at TCV.

Existing investors One Peak and Project A Ventures also participated in the round, which has pushed Spryker’s valuation above $500 million.

Reporting by Supantha Mukherjee in Stockholm; Editing by Kirsten Donovan