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Salsify Closes $155 Million Series E Financing Led by Warburg Pincus

Salsify Closes $155 Million Series E Financing Led by Warburg Pincus

09/23/20, 10:07 AM
Money raised
$155 million
Industry
sales and marketing
information technology
software
Round Type
series e
 Salsify, Inc., the leading commerce experience platform that helps brands win on the digital shelf, today announced that it has closed a $155 million Series E round of financing led by Warburg Pincus, a leading global investment firm focused on growth.

Company Info

Company
Salsify
Additional Info
In 2021, ARR went up to $110 million and the company now has 1,200 customers, up from 800 when I last spoke with it in 2020. That is a notable jump since the company didn’t disclose a number when it raised its Series E, a $155 million round in 2020 (PitchBook however puts it at $805 million, and before at $308 million in 2018). In a venture market that is very active for e-commerce tech — just earlier today, another startup startup, UK’s Moot, that is building tech to help brands manage commerce across multiple platforms — announced $18 million in funding; last week another company in a similar space, Productsup, announced $70 million in funding — this round and valuation make Salsify one of the biggest contenders in this space.And likely it is one attracting some attention from even bigger companies eyeing consolidation, although for now Salsify is focused on being the consolidator itself. On the other side, the most savvy companies are using technology that gives them a leg up in managing all of this, Amazon being perhaps the most shining example of that. Purcell described this latest round as “opportunistic,” in that the company still had capital from its last round in the bank but had been getting approached by investors looking to work with the company.“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,” said Arun Agarwal, MD at TPG, in a statement. This is a Series F and it values Salsify (named after the widely spreading wildflower) at $2 billion.

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