The funding round, which was led by TPG, has taken Salsify's valuation to $2bn


Digital commerce technology firm Salsify secures $200m in Series F. (Credit: Gerd Altmann from Pixabay)

US-based Salsify has raised $200m in a Series F round for its commerce experience management (CommerceXM) platform built for serving brand manufacturers, distributors, and retailers.

The financing round, which was led by TPG, has taken Salsify’s valuation to $2bn. TPG is investing in the start-up through its TPG Tech Adjacencies fund.

Permira’s Growth Opportunities Fund, Cap Table Coalition, and Neuberger Berman Funds are the other participants in the funding round.

TPG managing director Arun Agarwal said: “As consumer behaviour shifts increasingly towards digital and omnichannel, there has been an evolution in the way that brands think about their technology strategy and how they evolve their tech stack.

“Through its integrated platform, Salsify is optimising the shopping experience for brands, retailers, and distributors, powering consumer interactions and enabling consistency, simplicity, and agility.”

Salsify’s CommerceXM platform is said to provide a base for succeeding on the digital shelf, while balancing the requirement for speed and access with the ability for governing and controlling core data and product information.

Some of the brands that use the CommerceXM platform are Coca-Cola, L’Oreal, Mars, Bosch, GSK, E.Leclerc, Metro, Carrefour, and Intermarché. The company is claimed to serve nearly 1,200 customers around the world.

Following the Series F round, Salsify has taken its total funding to more than $450m. Prior to this, the company raised $155m in September 2020 in a Warburg Pincus-led Series E round.

The technology start-up will use the new investment to deliver an open CommerceXM platform, grow and deepen retailer network, continue its global expansion, and in hiring more people.

Salsify co-Founder and CEO Jason Purcell said: “Seamless customer experiences are core to any company’s success, and our customers need the tools and data to optimize that experience.

“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.”