Boston-based leading commerce experience platform Salsify has announced the closing of Series E round. The company has raised $155 million in the financing round that was led by Warburg Pincus.
The world’s biggest brands like L’Oreal, GSK, and Bosch use the platform. Salsify has grown its existing customer base and in the global enterprise sector since its last funding round in 2018. Currently, the platform has a net revenue retention rate of over 120%. 225 of the company’s 800 customers have revenue of over $1 billion.
The fresh funding will enable Salsify to accelerate product development of its commerce experience management platform. The funds will also help the company scale its global growth investments, sales, marketing and business development.
The company was named as a Cool Vendor in Digital Commerce by Gartner earlier this year. “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. Salsify’s investor Warburg Pincus has been one of the most active growth investors in enterprise technology. The firm has so far invested in Ant Group, Gojek, and Samsara among many others.