Continued Customer Growth Drives Latest Investment for Accelerating R&D and Continued Global Expansion
Salsify, the only product experience management (PXM) platform that lets brands deliver compelling shopping experiences across every digital touchpoint, announces it has secured $43 million in Series D financing. This latest round of funding was led by Greenspring Associates, with participation from existing investors Matrix Partners, Venrock, Underscore VC and North Bridge Venture Partners. The new investment will further advance Salsify’s investments in R&D, help the company grow both its global footprint and partner ecosystem, and continue delivering solutions that drive the life cycle of commerce on the digital shelf.
Over the course of the past year, Salsify’s full suite of PXM functionality has resonated with brand manufacturers looking to successfully navigate the complex challenges of the modern commerce landscape. New customers in 2018 have included a wide range of the world’s leading brands, including Anheuser-Busch, Perry Ellis, Michelin, and Asics.
“By 2022, 58% of all retail sales are expected to be influenced by digital. In order to drive market share and margins, winning brands need to deliver and continually optimize a differentiated product experience for buyers at every touchpoint across the digital shelf,” says Jason Purcell, Salsify CEO and Co-Founder. “This latest round of financing, along with our increasing market momentum, underscore how Salsify’s capabilities are comprehensively addressing this major challenge for brands in a way no other platform can match.”
Delivering on an aggressive product development roadmap is what drives Salsify’s growth and the company’s increasingly global customer base. To support these efforts, Salsify invested approximately 40% of its revenue in R&D in the first half of 2018, and this focus will be further bolstered by the Series D investment.
“Salsify’s platform is extremely powerful, and is meeting a tremendous need in the marketplace that is only going to grow larger over time,” says John Avirett, Greenspring Associates’ General Partner. “The company’s leadership team has a visionary, strategic view of the rapidly evolving commerce marketplace and has developed a supportive and innovative company culture that is focused on helping brands drive sales on the digital shelf. We’re proud to partner with the Salsify team as they continue their rapid growth.”