Press Release Composable Funding

TORONTO – Aug. 22, 2022 – Myplanet, the leading composable commerce specialist, today announced it has received $11 million in funding from Tercera, a growth-focused investment firm specializing in cloud professional services. With this investment, Myplanet will extend its position in this rapidly growing space by deepening its MACH Alliance partnerships, delivering new innovative pre-packaged accelerators that democratize access to composable commerce, and doubling the size of its global talent base.

For more than a decade, Myplanet has been working with some of the world’s most influential organizations on their digital experiences, leading over 100 commerce projects for companies like New Balance, UNTUCKit and Google. With nearly 200 experts, Myplanet is the largest composable commerce specialist in North America and a top-tier partner of MACH leaders like commercetools, Elastic Path, Contentful, Contentstack, Fluent and NewStore.

“We’re at an inflection point in commerce. It used to be a shopping cart and a buy button; now it's experiences, subscriptions, consumption and connected devices,” said Jason Cottrell, CEO and founder of Myplanet. “Composable commerce allows retailers to tap into this future and increase speed, reduce spend and build interconnectedness. With this infusion of capital from Tercera, a firm that deeply understands the space, we can accelerate that shift and become the place to go for composable commerce.”

Myplanet is now Orium.

As any new parent can tell you, choosing a name is a weighty decision. Renaming a business is no less fraught, especially with pre-existing brand expectations, a vast network of stakeholders to satisfy. (And you thought pleasing the grandparents was tough…)

When it came time to choose our new name, we put a lot of thought into what we wanted it to say. We’re innovators, yes, but we’re not just coming up with dynamic, future-focused concepts for the fun of it. We wanted a name that made it clear that we’re dedicated practitioners—committed to taking powerful ideas and making them a reality—and that spoke to the strong connections we have with our partners and clients in bringing those concepts to life. Orium answered those requirements perfectly.

-orium is a suffix that denotes a place for a particular function (think: auditorium, emporium, sensorium). In essence, it’s where things happen. We're excited to be the place where our industry-leading partners and world-class clients come together to make things happen, pushing the boundaries of what the movement for composable commerce can be.

Orium is a name that’s open and full of possibility. It connotes an embrace of innovative thinking and a readiness to challenge the status quo. But it’s also a name with a weight and density all its own, underscoring that we don’t just trade in ideas— we make them real. Orium reflects who we are and what we do today, but more importantly, it’s a name that can grow with us as we continue to evolve.

After all, we’re big believers in change.