Boston based e-commerce software company Salsify raised US$ 155M in its Series E funding round on 23 September 2020. Its total funding raised till now stands at US$ 252.6M.
The funding round was led by Warburg Pincus. Other participants include Matrix, Underscore, Venrock and Greenspring. Prior to this, Salsify had raised around US$ 98 million from investors including Underscore, Matrix Partners, Venrock and North Bridge Venture Partners.
In 2020, Salsify saw a big surge in business. Being an e-commerce company that helps startups get all their inventory, marketing and selling strategies all on one page, Salsify has seen a rise in its growth, especially due to the COVID-19 pandemic.
About Salsify
Salsify is an e-commerce software startup that empowers brands by providing tools to track and analyze inventories, presentation, and sales of goods on digital shelves. Founded in 2012 by Jason Purcell, Jeremy Redburn and Rob Gonzalez, Salsify offers a Commerce Experience Management (CommerceXM) platform that combines Product Experience Management (Integrated PIM, DAM, and Experience Builder) with commerce capabilities. This enables sales both across retailer and distributor channels as well as direct-to-consumer (D2C) sites, marketplaces, social commerce.
Salsify is backed by Venrock, Matrix Partners, North Bridge, Warburg Pincus, Greenspring Associates and Underscore VC. Jason Purcell is the Chief Executive Officer, Jeremy Redburn is the Chief Data Officer and Rob Gonzalez is the Chief Marketing Officer of Salsify.
“Companies realize they need a strong digital footprint,” Purcell said simply in an interview. Whether it’s Amazon or another marketplace, or their own site, what COVID has done is give many brands a fraction of the thought process: if we don’t have a strong digital footprint, we won’t be able to engage,” said Jason Purcell.
Mission
· To change the way an industry works and improve the lives of customers.
· Make brand manufacturers more efficient, and consumer experiences digitally enjoyable.
· Create a diverse and inclusive place of employment where people could be proud of the work they’re doing.
· The digital shelf is the collection of diverse and rapidly evolving digital touchpoints used by shoppers to engage with brands and discover, research, and purchase products. Salsify wishes to help other startups take full control of their digital shelf.
What investors have to say
“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,” said Michael Ding, Vice President, Warburg Pincus.
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