PowerStores fuels North American launch with rebrand to Webware.io and new round of funding

Asia's leading web building platform and service provider to disrupt North American DIY website market with do-it-for-me model

TORONTO, Dec. 8, 2015 /CNW/ - PowerStores Ecommerce Ltd. is ready to take on North America with a new name and a fresh round of capital investment to fuel its rapid growth. Rebranded as Webware.io, the company has closed a new round of funding led by Toronto-based Extreme Venture Partners and William Bissell, who made the investment in his personal capacity through his family office. Webware offers a DIY website platform that is now complemented with robust do-it-for-me set up and support services to ensure businesses become competitive in the online world.

"There are four billion-dollar web platform companies in the market, yet according to a joint Google and Ipsos survey in 2013, 55 percent of businesses in North America are still not online," says Cory York, co-founder and CEO of Webware. "We know why. Small businesses are looking for a reasonably-priced, do-it-for-me platform and service company to take care of their online needs. And that's what our company offers." Founded in India by Cory York and Indrajit Chowdhury in 2012 as PowerStores, the company established a Toronto office this past summer and already has 10 employees and 500 customers there.

"The name change to Webware.io reflects the company's ability to serve more than just the e-commerce market with a shopping cart solution," says York. "We know small businesses have limited time and resources, and an easy all-in-one system that covers everything they should be doing when it comes to the internet is what Webware is all about. We offer a complete digital tool kit that covers everything a business needs to be doing online - website, web store, social commerce, blogging, and more.

"The new round of funding will support Webware.io's aggressive expansion across North America as it targets more than 30 million small and medium businesses that can benefit from its services. "There is a great opportunity for digital services within the small business market right now. We're investing in the proven team at Webware to bring a new dimension to the SaaS platform marketplace." Sunil Sharma Extreme Venture Partners ( www.evp.vc )

"Small- and medium-sized businesses know they need to be online, but so many of them just don't know where to start," says York. "They're hair stylists, or chefs, or plumbers. You name it. But they don't want to be web developers, nor should they be. That's where Webware.io can help." Webware.io will dramatically increase hiring for it's sales and marketing team in Toronto in the coming months to support its growth plans. Qualified candidates can apply at http://www.webware.io/pages/footer/careers

About Webware.io: Webware.io is a complete tool kit designed to help small businesses easily and affordably navigate the digital world. Webware.io's technology platform provides everything small businesses need to manage and grow a successful online presence, from designing and building websites and online stores, to SEO marketing services and creating loyalty programs. With services embedded into the Webware.io platform, businesses can access all the tools they need from one easy-to-use workspace.

SOURCE PowerStores e-commerce ltd

For further information: MEDIA CONTACT: Cory York, Co-founder and CEO, Webware.io 416.931.9330

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www.webware.io

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