The supplier experience management platform continues to grow, announcing a $200 million Series F round of funding. The company's estimated valuation now reaches $2 billion.
Salsify announces a $200 million Series F round led by investor TPG along with investors Permira, Neuberger Berman and Cap Table Coalition. The company's estimated valuation now stands at $2 billion. This latest round of funding follows the $155 million Series E investment led by Warburg Pincus in September 2020, bringing the total investment raised by Salsify since its inception in 2012 to $450 million. This round of funding is designed to support Salsify's hypergrowth and its mission to provide a business-driven commerce experience platform to connect retailers and manufacturers across all industries.
International development in 2022
At the beginning of every purchasing act is now the product data that feeds the consumer in his journey, from the discovery to the purchase act, through the information gathering. "The objectives set out when Salsify acquired Alkemics have been achieved. The company has made a leap in its global expansion. It has also successfully implemented its supplier experience management tools in the US and its product experience management tools in France while honing its new positioning as a commerce experience platform. Salsify now addresses brands and retailers equally," said Antoine Durieux, EVP, Retailer and Network Strategy at Salsify and co-founder of Alkemics.
Salsify is pursuing global expansion beyond its current presence in the US, France, UK, Portugal and Australia. By 2021, Salsify has generated $111 million in annual revenue, a 53% increase over 2020. Salsify has more than 1,160 customers worldwide (+36%) with the aim of offering data for commerce, both for food and other sectors such as trade and DIY, health... New customers include Le Creuset, Colgate, Sanofi, Fluke Electronics, Intermarché, Mr. Bricolage, Leadersanté, Uber Eats, Cajoo, GoPuff, Gorillas and Flink. Existing customers such as Metro, Perdue, Revlon, Coca Cola, Mars and L'Oréal have expanded their partnership with Salsify.
"In 2021, nearly 33,000 users of Salsify's product experience management (ProductXM) platform added more than 9.7 million new products and enabled content on nearly 5.2 million different product sheets," the company points out. A stream of 106 million tasks performed to encourage cross-team collaboration around product content. SupplierXM, meanwhile, is used by over 21,000 users."
Salsify has invested over $32m in R&D in 2021 (+40%). In 2022, the company plans to increase its R&D investment by 46% to $47 million. "Ensuring a frictionless shopping experience both online and in-store is central to our customers' strategies. To do this, they need tools and data that meet their business needs," said Jason Purcell, co-founder and CEO of Salsify. TPG is investing in Salsify through its TPG Tech Adjacencies fund. As part of the transaction, Arun Agarwal, CEO of TPG, will join the board as an advisor.
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