Salsify closes $200 million investment at $2 billion valuation
Commerce experience management commerce platform, Salsify, has closed a $200 million Series F round of financing led by TPG.
The round, which includes investments from Permira’s Growth Opportunities Fund, Neuberger Berman Funds, and Cap Table Coalition, brings Salsify's valuation to $2 billion.
The Series F follows a $155 million Series E led by Warburg Pincus in September 2020, bringing total funding to over $450 million.
The new investment will be used for the likes of global expansion beyond Salsify's existing presence in the US, France, UK, Portugal, and Australia.
“Seamless customer experiences are core to any company’s success, and our customers need the tools and data to optimise that experience,” says Jason Purcell, Salsify Co-Founder and CEO.
“This new investment and our partnerships with these leading investors will fuel our ability to continue our aggressive product innovation while increasing the value we drive for our customers, partners, and employees around the world.”
“As consumer behavior shifts increasingly towards digital and omnichannel, there has been an evolution in the way that brands think about their technology strategy and how they evolve their tech stack,” says Arun Agarwal, Managing Director at TPG.
“Through its integrated platform, Salsify is optimising the shopping experience for brands, retailers, and distributors, powering consumer interactions and enabling consistency, simplicity, and agility.”
“TPG has a long track record of backing leading SaaS companies, and we look forward to partnering with Jason and his team to drive Salsify’s growth and market leadership further.”
“Through Permira’s experience in digital commerce, we see how critical it is for brands and retailers to optimise product information across their digital shelves,” says Jason Thorn, who led the transaction on behalf of Permira.
“We are incredibly excited to partner with the team at Salsify, which has created a highly intuitive and flexible solution that is purpose-built to enable customers to maximise success in e-commerce.”
"We were impressed by Salsify's purpose built solution for not just brands looking to manage their digital presence, but also for the retailer partners looking to improve velocity and digital throughput," comments Gabe Cahill, Managing Director, Neuberger Berman.
"The global, purpose built integrated solution makes Salsify the leading PIM solution for partners worldwide. As a global organisation ourselves, we are excited to partner with the team at Salsify to help catalyze their vision for the business.”
