Salsify Inc., whose technology enables manufacturers to distribute product information to online retailers, has raised $43 million in its fourth round of funding. The new investment brings its total amount raised to nearly $100 million.
Greenspring Associates led the latest round of funding, with participation from existing investors Matrix Partners, Venrock, Underscore VC and North Bridge Venture Partners. Salsify raised $30 million in early 2017.
Suppliers of more than 30 million products use Salsify’s web-based services to distribute updated images, specifications, attributes and other product information to retailers.
Salsify’s new customers in 2018 include Perry Ellis International, No.746 in the Internet Retailer Top 1000, and Asics America Corp., No. 526.
The vendor will use the new funds to invest in research and development and to expand its international footprint.
Salsify says it invested approximately 40% of its revenue into research and development in the first half of 2018.
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.Favorite