Sitecore, a provider of ecommerce and content management software it promotes as digital experience management technology, has raised $1.2 billion in funding from a private investor.
“As companies and consumers search for more seamless ways to communicate, coordinate and collaborate during this momentous period, Sitecore’s investment will supercharge product innovation in order to better enable deeper and more engaging experiences across the entire customer journey,” CEO Steve Tzikakis, who joined Sitecore as its chief executive five months ago, said in a statement about the investment released today.
He added in a comment forwarded to Digital Commerce 360: “The size of this investment will allow us to invest immediately in product innovation, more than double our go-to-market presence, enhance our global brand and expand our geographic footprint. In fact, we are already planning to open offices in Spain, Italy and the Middle East to meet a growing demand in these markets.”
Sitecore, marking its 20th anniversary in business this year, has not publicly named the investor but asserted that it was not a venture capital firm. “At this time, we cannot disclose the name of the investor, but it is a private investor, not a VC,” it said through a spokeswoman.
Sitecore says it works with more than half of the Fortune 100 companies and close to half of the companies listed in the S&P and Dow Jones Global Titans.
“Sitecore provides a fantastic platform and is an invaluable partner for the global Formica organization, starting from our website redesign project, which began in 2018,” Amy Fowles Gath, vice president of marketing at Formica, a manufacturer of laminates used in countertops, furniture and store fixtures, says in a statement Sitecore released today about the investment. “Since then, we launched an enhanced website and ecommerce strategy leveraging Sitecore’s platform, which allowed us to provide flexible, digital options for experiencing our laminates—even during a pandemic. We look forward to seeing what’s next in this new phase of growth for Sitecore, knowing it will help us continue to deliver engaging experiences for our customers.”
Last month, Sitecore announced that it would make available early this year Sitecore Experience Edge, a SaaS-based platform developed on a “headless” content delivery model designed to let online sellers and marketers develop content across multiple customer-facing interfaces—including watches, phones, tablets and voice-activated devices—without having to modify back-end technology architecture. Additional releases of Sitecore Experience Edge will include new personalization capabilities, the company said.
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