Rutter’s mission is to enable new commerce experiences. We believe that by providing a universal commerce API, we can accelerate the development of new commerce and financial services by abstracting away the complexities of dealing with different ecommerce storefronts, accounting systems, payment processors and other merchant systems of records.
Today I’m happy to announce that we’ve raised a $27M Series A led by Andreessen Horowitz, along with some new product updates aimed at further creating the best-in-class API for commerce.
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The Future of Commerce is being built on top of Rutter
Hundreds of startups today–from early teams to growth-stage companies–use Rutter as a core piece of infrastructure that enables them to easily fetch data from merchants and small businesses on any commerce platform. We work with leading fintech companies, expense management startups, business banks, ecommerce enablement companies, dropshippers and more.
Traditionally, a company that would want to serve merchants and SMBs across Shopify, WooCommerce, Amazon, BigCommerce and all the other platforms would need to build integrations for each platform one by one, costing them hundreds of engineering hours.
The Rutter API removes the complexity of having to learn, integrate, and maintain the APIs of every ecommerce storefront, accounting system and payment processor. Companies using Rutter are able to accelerate their go-to-market, save years of development and maintenance costs, and access a broader customer base from day one.
“Rutter helped us shorten our integration build time and speed up time to market by 5x. What used to take us several weeks to build new integrations now takes us a few days. Rutter is the only provider we’ve worked with that’s given us a 99.999% uptime so far. They’re more reliable than the Facebook API.” - Rudy Dobrzynski, Head of Engineering at Uncapped
As the ecosystem for applications supporting merchants and SMBs explodes, so do the number of platforms merchants run their storefronts on and the amount of data being generated across these platforms.
Similar to how Plaid made it easy for any fintech company to get started by integrating with banking data, Rutter is making it easy for any commerce enablement and fintech company to start serving merchants and SMBs faster.
“For any Head of Products who want to deliver value in a reasonable amount of time, it’s a no brainer to go with a company that focuses on building the best commerce API because you know what you’re going to get. You don’t have to worry about APIs changing all the time, the coverage across platforms is there right away and you get the expertise of their entire team focused on making you successful.” - Erik Straub, Head of Product at Kickfurther
Rutter continues to play a crucial part in providing the glue that enables commerce enablement and financial services companies to easily access this data and power new commerce experiences. We’ve been fortunate to have the chance to work with some of the most innovative fast growing companies like Ramp, Airwallex, Uncapped and more. We’re excited to see what else gets built on top of Rutter in the next few months and years!
Partnering with Andreessen Horowitz
We’re partnering with Andreessen Horowitz to accelerate our progress and push Rutter to become the infrastructure for the world’s commerce applications. Kristina Shen is joining our board.
In addition, several industry leaders are participating in this round and bringing on their insights and networks: Zachary Perret (CEO, Plaid), Charley Ma (GM Fintech, Alloy), Juan Santa Cruz (CRO, Modern Treasury), Bob Young (CEO, Red Hat) Ravi Parikh (CEO, Airplane), and Joshua Ma (CTO, Airplane and Benchling).
They will join our existing investors including Comma Capital (David Ongchoco & Adarsh Bhatt), Basis Set Ventures, Haystack, Liquid2, The Chainsmokers (Mantis Capital), and Jim Lanzone (CEO, Yahoo).
The additional $27M in Series A funding brings our total funding to $29.5M. The funding and the support from our new and existing investors allow us to continue to scale out our engineering and go to market teams.
Building the commerce data layer
Moving towards our mission to become the universal commerce data layer, we’re excited to share the new things we’ve been working on for the last couple of months.
New Integrations
The more integrations we support, the broader the merchant base we enable our customers to access. We’ve been hard at work building out our systems that enable us to rollout integrations 10x faster and increase our coverage across all platforms. We’re currently rolling out support for new platforms like FNAC, Shopee, Lazada, Mercado Libre, Prestashop, and Shoper.
Accounting APIs
We’ve also been able to serve a broader audience of merchants and SMBs through our new set of accounting integrations we announced in early February. Since the last two and a half months, we’ve pushed out support for Rutter Accounting APIs, our newest class of API, starting with the main platforms Quickbooks Online, Xero, Freshbooks, and Netsuite.
Reliability
As a data infrastructure platform, our main priority will always first and foremost be reliability. Hand in hand with the infrastructure and scaling improvements we’ve made under the hood, we’ve added a number of customer-facing observability features to help the customers we work with better understand the connection lifecycle.
Data pipelines are just the beginning — we also plan on launching value add services on top of our APIs including data cleaning, automatic categorization, and cross platform reconciliation.
What’s Next
Rutter was started a year ago with the goal of creating the building blocks that enable the next generation of commerce, fintech and small business applications.
Since then we’ve grown our team to 20 people, and I’m excited to work with such an amazing group of teammates, investors, and friends to continue our mission. And we’re just getting started.
With our Series A, we plan to grow our team across every function in engineering, product and go-to-market. We’re a remote first company with hubs in San Francisco and New York. If you’re interested in building the future of commerce data, we’d love for you to join us!
