Boston E-commerce Software Firm Salsify Raises $30M, Plans to Hire 80January 18, 2017
by Kelly J. O'Brien
Boston-based Salsify, which provides content management software to brands and retailers, announced Wednesday it has raised $30 million in a Series C round of funding as it focuses on growth and its go-to-market strategy.
The round was led by Underscore.VC, also based in Boston, with participation from previous investors Venrock, Matrix Partners and North Bridge Venture Partners. Total funding is now $54.6 million.
Founded in 2012 by a trio of Endeca alumni, Salsify now employs 120 people in Boston and says it expects to hire 80 more by the end of they year.
Salsify's software provides online retailers with an easy way to handle all the different kinds of product data they receive from manufacturers, allowing them to organize, analyze and present that information it to customers.
"Just about everyone has accepted that retail and digital are now synonymous - you can't sell in-store without a digital presence. The foundation of this new reality is product content. We're proud that Salsify has enabled so many global brands to accelerate their transformation to digital-first organizations," Salsify CEO Jason Purcell said in a statement.
Salsify counts brands like Coca-Cola, Fruit of the Loom and Rawlings among its customers and says it tripled revenue in 2016.