Salsify secured a valuation of $2 billion in the funding round.

Salsify, which provides software to participants in the e-commerce sector, closed a $200 million Series F round led by TPG, with participation from Permira‘s Growth Opportunities Fund, Neuberger Berman and Cap Table Coalition.

As of date, Salsify has therefore raised a total of $450 million and its latest valuation is $2 billion.

The startup will use the funds to expand beyond its existing market reach of US, France, UK, Portugal, and Australia. It also intends to delivering an open Salsify Commerce Experience Management Platform to allow systems integrators and tech partners to build product capabilities, and develop an open and dynamic retailer network. (CISION PR Newswire)

“As consumer behavior 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,” said Arun Agarwal, Managing Director at TPG. “Through its integrated platform, Salsify is optimizing the shopping experience for brands, retailers, and distributors, powering consumer interactions and enabling consistency, simplicity, and agility.”

“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.

“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.

In 2021, Salsify generated over $110 million in annual recurring revenue, an over 50% increase from 2020. The company serves about 1,200 customers worldwide.

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