Salsify Inc., which provides web-based product content management technology and enables businesses to exchange content, has raised $30 million.
Underscore.VC led the funding round, with participation from existing investors Venrock, Matrix Partners and North Bridge. This round brings the company’s total funding to date to $54.6 million, Salsify said Wednesday.
Salsify says it plans to use the money for product development and to hire 80 new employees this year.
Salsify says its cloud-based product content management platform enables brands and retailers to manage, optimize, and syndicate their content. Clients include Wal-Mart Stores Inc., No. 4 in the Internet Retailer 2016 Top 500 Guide, Wayfair Inc. (No. 24), Jet.com (recently acquired by Wal-Mart), Overstock.com Inc. (No. 29), Google and others.
Salsify says 2016 revenue grew more than 330% compared with the previous year, but did not reveal specific numbers. The Boston-based company was founded in late 2012 by executives with e-commerce experience at IBM Corp. and Endeca, a provider of site-search technology that Oracle Corp. purchased in 2011. It has more than 120 employees.
The vendor’s previous funding round was $16.6 million in July 2015, That round was led by Venrock, a venture capital firm backed by the Rockefeller family, and included participation from investment firms Matrix, North Bridge and Michael Skok, a venture capitalist previously associated with North Bridge who currently is co-founder and partner at Underscore.VC.