South Dakota, USA-based leading provider of an embedded integration platform (iPaaS) for B2B SaaS companies, Prismatic raised USD 22 million in Series B. The company announced the fundraiser on January 17, 2023. Five Elms Capital led this funding round. It is the second investment for the growth equity firm in Prismatic in less than a year.
Purpose of financing for Prismatic
With the latest financing, Prismatic seeks to fuel the expansion of its research and development. It further aims to bolster innovation and enhancements to the embedded iPaaS platform. Meanwhile, the company aims to roll out future updates and launches enabled by this investment. The new updates will drive more versatility in the ways SaaS teams can build, manage, and embed integrations.
What the company’s official has to add
Michael Zuercher, CEO and co-founder of Prismatic, said, “Modern B2B SaaS teams juggle a growing expectation to integrate with the other software their customers use. Fulfilling these requirements is costly, time-consuming and frustrating, but Prismatic’s embedded integration platform (embedded iPaaS) provides a seamless, scalable experience that enables teams to focus on innovation. Amid SaaS industry challenges, Prismatic’s consistent, strong quarterly growth demonstrates the pivotal role integrations play in the future of SaaS.”
What the investors have to comment
Austin Gideon, Principal at Five Elms Capital, said, “Prismatic’s stellar growth since its Series A, achieved in less than a year, has solidified the indispensable role of embedded iPaaS in B2B SaaS companies. We are seeing intense demand across our portfolio of B2B software companies for a platform to help augment integration capabilities. Scaling software companies are able to realize strong returns on investment by utilizing Prismatic’s platform, allowing teams to remain focused on delivering new products to customers. Partnering with this team again for the Series B gives us the opportunity to make meaningful advancements and improvements in the future of SaaS.”
What the Sisu official has to comment
Colton McCormack, Lead Software Engineer of Integrations at Sisu, further added, “Prismatic has been a game-changer for our team. The platform’s intuitive low-code builder, marketplace and robust monitoring capabilities allow us to deliver complex integrations faster and more reliably than ever before. Whether quickly wiring up an integration using pre-built components or developing custom logic, Prismatic gives us the flexibility and customer support we need.”
About Prismatic
Beth Harwood, Justin Hipple and Michael Zuercher launched the company in 2019. Prismatic is the integration platform for B2B software companies. It’s the quickest way to build integrations to the other apps your customers use and to add a native integration marketplace to your product.
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