On April 13, Salsify, a Commerce Experience Management (CXM) platform that enables manufacturers, distributors and retailers to improve the customer experience, announced a $200 million Series F funding round led by TPG, a global leader in alternative asset management. The round, which included participation from Permira, Neuberger Berman and Cap Table Coalition, brings Salsify’s valuation to $2 billion and its total funding to more than $450 million.

Founded in 2012 by Rob Gonzalez, Jeremy Redburn and Jason Purcell and based in Boston, Salsify, a product experience management (PXM) platform, was created to make it easier for brands and their retailers to create, manage and exchange product information. The acquisition of the French company Alkemics in May 2021, allowed the company to complete its offer and opened the European market, while the acquisition of SKUvantage, the following October, opened the Australian market.

The company’s clients include Perry Ellis, Coca-Cola, Asics, Mars, L’Oreal, Bosch and GSK, and it works with Amazon and Walmart. Retailers and distributors such as E.Leclerc, Carrefour, Metro and Intermarché use its platform to stand out in this strategic market.

A strategic market

This fundraising follows the $155 million Series E round led by Warburg Pincus in September 2020. Since then, Salsify has been growing steadily and has generated more than $110 million in annual recurring revenue, an increase of more than 50% from 2020. Salsify now serves nearly 1,200 customers worldwide.

Antoine Durieux, EVP, Retailer and Network Strategy at Salsify and co-founder of Alkemics, said:

“The stated goals of Salsify’s acquisition of Alkemics have been achieved. The company has taken a leap in its global expansion. It has also successfully implemented its supplier experience management tools in the U.S. and product experience management tools in France while refining its new positioning as a commerce experience platform.”

Consumers are increasingly demanding data transparency not just around consumable products but in other sectors such as healthcare, beauty products, DIY…

Antoine Durieux explains:

“We are addressing all industries of commerce. Many of the revolutions that have taken place in the food industry are now taking place in other industries. The challenge to meet new consumer expectations has become quite similar. All industries need to prepare for these new consumer questions about their products, and therefore prepare to equip themselves with solutions to structure the information that helps answer those questions. “

Salsify is a recognized player in this market, with Forrester, IDC, and Ventana ranking it among the leaders in product information management, and the company was recently awarded Best Marketing Team and Best Company in Boston 2022 at the Comparably Awards.

Realizing Salsify’s Expanded Vision

TPG is investing in Salsify through its TPG Tech Adjacencies fund, focused on flexible capital solutions for the technology industry. As part of the investment, Arun Agarwal, managing director of TPG, will become an observer on the board. He explains:

“As consumer behavior increasingly shifts towards digital and omnichannel, there has been an evolution in how brands think about their technology strategy and how they evolve their technology stack. Through its integrated platform, Salsify optimizes the shopping experience for brands, retailers and distributors, powers consumer interactions and enables consistency, simplicity and agility. TPG has a long history of supporting leading SaaS companies, and we look forward to partnering with Jason and his team to further drive Salsify’s growth and market leadership. “

This new investment will enable Salsify to provide an open CXM platform, expand its retailer network and international footprint.

Jason Purcell, co-founder and CEO of Salsify, concludes:

“Smooth customer experiences are critical to the success of any business, and our customers need the tools and data to optimize that experience. This new investment led by TPG and our partnerships with these key investors will fuel Salsify’s ability to continue aggressive product innovation while increasing the value we generate for our customers, partners and employees worldwide. “

Translated from Levée de fonds de série F de 200 millions de dollars pour la plateforme CXM de Salsify