VTEX

What VTEX does

VTEX is a Brazilian-founded, NYSE-listed (ticker: VTEX) enterprise digital commerce platform that serves 3,500+ business customers across 43 countries, processing more than $15 billion in annual GMV. The company's product suite consists of three integrated platforms: the VTEX Commerce Platform supporting D2C, B2C, B2B, and marketplace operations with composable and headless architecture; the VTEX CX Platform providing AI-native customer service and conversational commerce (with WhatsApp as a primary channel); and the VTEX Ads Platform enabling retail media monetization through AI-optimized sponsored campaigns. In April 2026, VTEX launched an AI-Native Commerce Suite embedding autonomous agents across its platforms, including VTEX AI Workspace with native agents, AI Personal Shopper, B2B AI Quotation, and integration with Google's Universal Commerce Protocol for Gemini checkout.

VTEX generates revenue primarily through enterprise subscription contracts (Q1 2026 subscription revenue of $60 million, up 14% USD year-over-year), with full-year 2025 revenue of $240.5 million. The company has 158 enterprise customers generating $250k+ ARR, supporting a tiered enterprise go-to-market. Its distribution model combines direct field sales for large global brands with regional hubs in São Paulo (global headquarters), Bucharest (Central and Eastern Europe), Dubai (Middle East, launched November 2025), New York (North America), and Lisbon, alongside system integrator partners (CI&T, Inspiria) and a VTEX Agency Partner Program. VTEX is led by co-founders Mariano Gomide de Faria and Geraldo Thomaz as co-CEOs, with the company operating independently as a public corporation since its NYSE listing. Recent acquisitions of Weni (September 2024, conversational AI) and Newtail (January 2025, omnichannel/retail media) have strengthened AI and operational capabilities, while Q1 2026 saw non-GAAP operating income double year-over-year to $10.6 million with free cash flow of $13.3 million at a 21.9% margin.

Name

VTEX

Legal name

VTEX Platform S.A.

Website

https://vtex.com

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

VTEX is an AI-native enterprise commerce platform serving 3,500+ global brands across 43 countries with unified Commerce, CX, and Ads platforms for D2C, B2C, B2B, and marketplace operations.

Ownership category

akta.pro rank

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Operations

Revenue model

1. Subscription Revenue: Core recurring subscription revenue from platform access, typically sold on an enterprise basis with ARR-based pricing. Q1 2026 subscription revenue was $60 million (up 14% in USD). Full-year 2025 subscription revenue was $66.7 million in Q4 2025.
2. Marketplace Commission: Revenue from marketplace operations where VTEX enables third-party sellers, charging commissions on transactions processed through the platform.
3. VTEX Ads Platform: Retail media revenue from sponsored products and campaigns, with VTEX taking a share of advertising spend. Examples show CTR of 4.5%, average ROAS of 51, and brands like Bemol achieving R$1 million in incremental sales.
4. Professional Services: Implementation and consulting services for enterprise customers, including platform migration and customization projects (e.g., Carrefour migration in 5 months with CI&T).

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

VTEX provides an AI-native unified commerce platform enabling enterprise brands to operate D2C, B2C, B2B, and marketplace commerce from a single suite. The offering combines a headless commerce platform, an AI-native conversational customer service platform (CX Platform), and a retail media advertising platform (Ads Platform), processing over $15B in annual GMV across 3,500+ enterprise customers in 43 countries.

Product overview

VTEX is an AI-native unified commerce platform offering a comprehensive suite of products for global enterprise brands. The core platform, VTEX Commerce Platform, supports D2C, B2C, B2B, and marketplace operations with headless architecture and VTEX FastStore for performance-optimized storefronts. The VTEX CX Platform provides AI-native customer service and conversational commerce with autonomous agents achieving 91%+ automation. The VTEX Ads Platform enables retail media with AI-optimized sponsored campaigns. The platform processes over $15B in GMV annually across 3,500+ enterprise customers in 43 countries. Key AI capabilities include Agentic WhatsApp Store, AI Search & Recommendations, CMS with GenAI, and Data Insights Agent. Recent additions include the VTEX AI Workspace with autonomous agents, VTEX AI Developer Toolkit, AI Personal Shopper, and B2B AI Quotation, all launched as part of the April 2026 AI-native commerce suite rollout.

Differentiator

Problem solved

Functional benefit

Brands

• Weni: AI-powered conversational agents and omnichannel automation platform acquired by VTEX
• VTEX AI Workspace
• VTEX AI Developer Toolkit
• VTEX Commerce Platform
• VTEX CX Platform
• VTEX Ads Platform
• VTEX FastStore
• VTEX Commerce Cloud Solutions LLC

Products and services

• VTEX Commerce Platform Unified commerce platform powering D2C, B2C, B2B, and marketplace operations. Supports omnichannel operations, global commerce with multi-region/multi-language/multi-currency management, headless commerce architecture, and VTEX FastStore for performance-optimized storefronts. Designed for large global enterprise brands.
• VTEX CX Platform AI-native customer service and conversational commerce platform providing autonomous AI agents for customer support, WhatsApp commerce, and multi-channel engagement. Achieves up to 96% first-call resolution and 91%+ automation for post-sales operations. Built on the Weni conversational AI platform acquired in September 2024.
• VTEX Ads Platform Retail media platform enabling brands to run AI-optimized sponsored campaigns directly on storefronts. Turns existing traffic into incremental revenue with smarter targeting, automated optimization, and sponsored products capabilities. Network spans 19 retailers with average ROAS of 51.

Quantifiable outcome

• Q1 2026: GMV $5.1 billion (+17% USD), subscription revenue $60 million (+14% USD)
• +7 more outcomes

Named customers19 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration17 records

AI capability9 records

Feature13 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Dubai CommerCitycoreStrategic or Co-development Partner · 13 November 2025Strategic partnership establishing VTEX's first Middle East regional hub within Dubai CommerCity, the region's first free zone dedicated to digital commerce. Aims to accelerate digital commerce growth across UAE and GCC, empowering Emirati SMEs through masterclasses, webinars, and certified courses on digital commerce. Aligns with UAE Digital Economy Strategy projected to exceed AED 50.6 billion by 2029.
• Weni Plataforma e Tecnologia Ltda.coreStrategic or Co-development Partner · 1 September 2024VTEX acquired Weni in September 2024 to integrate AI-powered conversational agents and omnichannel automation into its ecommerce platform, strengthening the CX Platform capabilities.
• InspiriaminorImplementation/ SI/ Consulting PartnerImplementation partner specialized in VTEX CX Platform projects. Developed intelligent agents for automated product substitution journey for Lojas Rede, achieving 1,855% ROI during Black Friday.
• CI&TminorImplementation/ SI/ Consulting PartnerLed the digital transformation effort for Carrefour Brazil's migration to VTEX platform, resulting in 30% improvement in order conversion and 168% NPS improvement.
• CadastraminorGTM or Marketing PartnerMedia agency partner working with Reckitt and VTEX Ads Platform to scale retail media campaigns in the pharmaceutical channel, achieving 5x increase in campaign consumption and 600% increase in Retail Media-driven sales.
• EnextminorGTM or Marketing PartnerPartner agency for NIVEA Black Friday retail media campaigns on VTEX Ads Platform, achieving 1,113% growth in AdsGMV.
• MindgruveminorGTM or Marketing PartnerAgency partner for Essity's retail media campaigns on VTEX Ads Platform, achieving 17.4x average ROAS in pharmacy ecommerce.
• AWScoreStrategic or Co-development PartnerPrimary sponsor of VTEX Connect Europe event. VTEX has achieved AWS Consumer Goods Competency designation, demonstrating cloud infrastructure partnership.
• GooglecoreStrategic or Co-development PartnerIntegration with Google's Universal Commerce Protocol for Gemini checkout, enabling standardized connections between AI agents and platforms across the web. Google's VP of Merchant Shopping confirmed collaboration.
• PricewaterhouseCoopers (PwC)minorOthersIndependent auditor reappointed for fiscal year 2026 at May 2026 AGM with approximately 100% shareholder approval.

Scale indicators21 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• BigCommerce: BigCommerce is a direct enterprise SaaS commerce platform competitor, offering headless and composable architecture for B2B, B2C, and multi-storefront operations. Similar in customer segment (mid-market to enterprise) and in pivoting toward AI-native features (Feedonomics, AI-driven merchandising), it competes with VTEX for global brands seeking an alternative to Adobe/Salesforce.
• Adobe Commerce (Magento): Adobe Commerce (formerly Magento) is a direct enterprise commerce platform competitor, offering composable commerce for B2C, B2B, and D2C with deep integration into Adobe Experience Cloud for content, CX, and advertising. Comparable to VTEX in targeting large enterprise brands and increasingly layering AI (Adobe Sensei / GenStudio), it competes directly for global retailer and brand RFPs.
• Shopify: Shopify (with Shopify Plus) is the largest direct competitor to VTEX in enterprise digital commerce, offering a unified platform for D2C, B2C, B2B, and marketplace operations. Both target enterprise brands with composable architecture and now both are racing to embed AI agents across commerce workflows — Shopify's Shop Pay, Sidekick, and Shopify Magic overlap with VTEX AI Workspace, AI Personal Shopper, and agentic CX capabilities.
• Salesforce Commerce Cloud: Salesforce Commerce Cloud is a direct enterprise commerce peer, serving large global brands with B2C, B2B, and marketplace capabilities integrated with Salesforce's broader CRM, Service Cloud, and Marketing Cloud. Like VTEX, it targets large enterprise customers and has layered AI features (Einstein/Agentforce) onto its commerce stack — competing head-to-head for multi-suite consolidation deals.
• commercetools: commercetools is a direct peer in headless/composable enterprise commerce, sharing VTEX's emphasis on API-first architecture for B2C, B2B, and marketplace scenarios. It targets the same enterprise customer base that prioritizes flexibility and integration over monolith suites, and competes most directly where VTEX IO's composable positioning is strongest.

Emerging players

• Mirakl: Mirakl is a leading marketplace and dropship platform vendor, competing most directly with VTEX's marketplace operator segment (the InPost Fresh, Grupo Ageas Médis, and similar use cases). While not a full-stack commerce platform, it overlaps where buyers are evaluating marketplace-first architectures, making it a partial competitor for enterprise marketplace deals.
• Spryker: Spryker is a composable enterprise commerce platform with deep B2B capabilities, comparable to VTEX's enterprise B2B segment and FastStore/headless positioning. It targets complex enterprise scenarios where composability and customization matter, competing with VTEX in mid-market to upper enterprise deals particularly in EMEA.
• Kibo Commerce: Kibo Commerce (formerly Kibo + Monetate + Certona) is a composable commerce platform offering OMS, eCommerce, and personalization — directly comparable to VTEX's OMS, Commerce Platform, and AI Search & Recommendations. It targets mid-market and enterprise customers seeking unified commerce with personalization depth.
• Elastic Path: Elastic Path is an API-first headless commerce platform focused on composable enterprise commerce, overlapping with VTEX's VTEX IO and headless positioning. It serves enterprise B2C and B2B customers needing deep customization and is part of the same competitive set for composable commerce RFPs.

Broad incumbents

• SAP Commerce Cloud: SAP Commerce Cloud is a broader incumbent enterprise commerce platform, often winning deals where SAP ERP is already deployed. Comparable to VTEX in serving large global enterprises with B2B and B2C needs, but it operates as part of SAP's wider application portfolio and benefits from incumbent ERP integration rather than best-of-breed positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• GitHubgithub.com/vtex-apps
• Xx.com/vtexonline
• Facebookfacebook.com/vtexcommerce
• LinkedInlinkedin.com/company/vtex

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds5 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A11 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VTEX