Commerce Experience Platform Salsify Raises $155 Million

By Amit Chowdhry ● September 27, 2020
  • Salsify — a leading commerce experience platform that helps brands win on the digital shelf — announced that it has raised a $155 million Series E round of financing led by Warburg Pincus

Salsify — a leading commerce experience platform that helps brands win on the digital shelf — announced that it has raised a $155 million Series E round of financing led by Warburg Pincus. This new round of funding will enable Salsify to further accelerate product development of its commerce experience management platform.

Salsify also plans on using the funds to scale international growth investments, including overseas sales, marketing, and business development efforts along with assisting customers in global implementations of the platform. And Salsify also named former Salesforce Chief Customer Officer Mike Milburn as President to lead all go-to-market and customer operations.

Salsify’s CommerceXM platform is combining powerful Product Experience Management capabilities (PIM, DAM, enhanced content and advanced workflow capabilities) with the ability to deliver and sell products across both retailer channels and direct channels like marketplaces, social commerce, and brand-owned sites.

By combining all the capabilities brands need to support and transact commerce experiences through one technology stack, Salsify CommerceXM essentially enables brands to move faster than their competition to optimize every digital touchpoint for discovery, conversion, and brand affinity.

Since raising its Series D funding round in 2018, Salsify has seen consistent growth both from within its existing customer base and from the global enterprise sector. And Salsify currently boasts a greater than 120% net revenue retention rate. Out of the company’s 800 customers, 225 have more than $1 billion in revenue and 165 have global implementations of the platform.

KEY QUOTES:

“From skyrocketing traffic across major online retail sites to step function growth in direct to consumer channels, this year is when the digital shelf became the focal point of how consumers research, buy from, and develop relationships with brands. We are excited to partner with a world-renowned firm like Warburg Pincus in our mission to ensure that brands across industries and geographies are best equipped to offer incredible commerce experiences to consumers, anywhere they shop online.”
— Jason Purcell, Salsify co-founder and CEO

“Salsify is a clear market leader, serving some of the largest and most discerning global brands and retailers. The company’s strong track record, paired with a talented leadership team has positioned it well for the increase in demand for digital shelf solutions,” said Vishnu Menon, Managing Director, Warburg Pincus. “We are excited to partner with Salsify in their mission to help brands develop better and longer lasting relationships with consumers online.”
— Michael Ding, Vice President, Warburg Pincus.