Apr 13, 2022
Digital Commerce Leader Salsify Closes $200 Million Investment Led by TPG at $2 Billion Valuation
Permira, Neuberger Berman Funds, and Cap Table Coalition Join Series F Round
BOSTON, Mass. – April 13, 2022 – Salsify, the Commerce Experience Management (CommerceXM) platform empowering brand manufacturers, distributors, and retailers to win on the digital shelf, today announced it closed a $200 million Series F round of financing led by TPG, a leading global alternative asset management firm.
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 new funding follows Salsify’s $155 million Series E round led by Warburg Pincus in September 2020, bringing total funding to over $450 million.
The foundation of every digital commerce experience is the product data that powers the discovery, research, and buying journey for today’s consumers. This new investment will be used to deliver on Salsify’s expansive vision to serve as the global system of record and work for those digital commerce experiences, with product data at its core, including:
“Seamless customer experiences are core to any company’s success, and our customers need the tools and data to optimize that experience,” said Jason Purcell, Salsify Co-Founder and CEO. “This new investment led by TPG and our partnerships with these leading investors will fuel Salsify’s ability to continue our aggressive product innovation while increasing the value we drive for our customers, partners, and employees around the world.”
TPG is investing in Salsify through its TPG Tech Adjacencies fund, an investment vehicle focused on flexible capital solutions for the technology industry. In connection with the investment, Arun Agarwal, Managing Director at TPG, will become a Board Observer.
“Through Permira’s experience in digital commerce, we see how critical it is for brands and retailers to optimize product information across their digital shelves,” said 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 maximize success in ecommerce.”
"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," said Gabe Cahill, Managing Director, Neuberger Berman. "The global, purpose-built integrated solution makes Salsify the leading PIM solution for partners worldwide. As a global organization ourselves, we are excited to partner with the team at Salsify to help catalyze their vision for the business.”
"Cap Table Coalition (CTC) is on a mission to diversify the VC ecosystem by helping high-growth startups take control over their cap tables. We connect our community of 600+ operators and investors with startups who make funding opportunities available to our Black, Latinx, and other marginalized investors," said Elizabeth Grier, Managing Director, Cap Table Coalition. "We're proud to announce Salsify has joined our Coalition and look forward to our continued partnership."
For more information on Salsify’s commerce experience platform, visit www.salsify.com.
Learn how the world’s largest brands, including Mars, L'Oreal, Coca-Cola, Bosch, and GSK, as well as retailers and distributors such as E.Leclerc, Carrefour, Metro, and Intermarché use Salsify every day to stand out on the digital shelf. For more information, please visit www.salsify.com.
Courtney Power and Julia Sottosanti, TPG