Myplanet Rebrands to Orium After $11M Investment, Targets Growth in Composable Commerce

Myplanet is colonizing a new world – and it's called Orium.

The composable commerce specialist recently announced that it is taking on a new moniker as it targets growth in the MACH (Microservices, API, Cloud-first, Headless) sector.

As its website now proclaims, Orium aspires to be the premier composable commerce consultancy and systems integrator for omnichannel retail – or "omniretail" – working with best-in-class technology partners to set strong composable commerce foundations that support how brands serve customers across channels.

The rebrand comes on the heels of an $11 million investment from Tercera announced last month, and is part of the company’s accelerated growth plan and shifted focus on the rapidly evolving composable commerce space. 

From enterprise commerce to composable commerce

Founded in 2009, Myplanet has been a leading voice in enterprise commerce. In 2019, the company began specializing exclusively in composable commerce, customer data, and retail data platforms. Under the new Orium mantle, it plans to expand its offerings in these same areas and extend its partnerships with best-of-breed solutions providers – including commercetools and Elastic Path.

“We saw a paradigm shift coming – one that was rooted in the idea of change,” said CEO & Founder Jason Cottrell. “So we took what was, at the time, a bit of a risk and made the shift to composable. It was the right decision, but that shift happened a lot faster than anyone could’ve predicted.”

Owing to the COVID-19 pandemic and the urgent need for retailers to overhaul their digital operations, the company transitioned the business “in a matter of about three months” according to Cottrell. “Our core values are the same, but in a few crucial ways, we’re not the same company we used to be. We’ve changed, the industry has changed, and our name needed to reflect that.”

Early members of the MACH Alliance

Orium (as Myplanet) was part of the first wave of MACH Alliance members. This makes sense, as the company had already built one of the largest portfolios of composable commerce implementations in North America.

With the success of its Composable.com Accelerators supporting award-winning work – and its team moving past 200 people – Orium sees continued opportunities for helping brands adopt MACH architectures and use them to engage customers more effectively. With the pace of industry growth accelerating, the new name will help usher in the next era of the business. 

“Our work is inherently dynamic. We’re always evolving,” says Cottrell. “The name Orium reflects the combination of innovation and implementation that’s at the heart of our work philosophy: we don’t just trade in ideas, we make them real.”

What's in a name? Understanding "Orium" as a brand

While Myplanet was natively intuitive, the word Orium is less so. In its press release, the company shed some light on the decision and provided some context for its meaning.

“We’ve talked about changing the name of the organization before, but the timing was never right,” says Leigh Bryant, Orium’s Director of Brand. “With the investment funding from Tercera and the changes we’ve seen in the last few years – both within our company and within the industry – the timing felt right to rebrand to something that reflects who we are today, and that can grow with us into the future.”

The name of the company is drawn from the suffix -orium, which means a place for a particular function. “An -orium is where things happen, and that’s how we view ourselves,” says Bryant. “We are where industry-leading technology partners and world-class clients come together to make things happen, pushing the boundaries of what the movement for composable commerce can be. As Orium, we bring the elements of a custom retail solution to life.” 

As the field of composable commerce continues to explode, Orium appears focused on meeting the demand.