Growth equity fund Sixth Street Growth supplied $150m in funding for Bloomreach, a US-based content management platform developer backed by enterprise software producer Salesforce, yesterday.
Bloomreach is the creator of a digital experience platform that helps online retailers personalise their offerings to help drive sales.
The deal valued the company at $900m according to TechCrunch, and the round increased its total funding to $247m. Sixth Street Growth managing director Benjamin Johnston is joining its board of directors in conjunction with the transaction.
Salesforce subsidiary Salesforce Ventures joined Battery Ventures and existing investors Bain Capital Ventures, New Enterprise Associates and Lightspeed Venture Partners in Bloomreach’s last round, a $56m series D, in 2016.
The Sixth Street investment was disclosed alongside Bloomreach’s acquisition of Exponea, the UK-based creator of a customer data and experience software platform, for an undisclosed sum. Exponea had not revealed any corporate funding.
Bloomreach CEO Raj De Datta said: “Incredible e-commerce experiences happen when we reach a customer with exactly the right product at the right time on the right channel, and that requires a deep understanding of products and people which has not been possible until now.
“The coming together of Bloomreach and Exponea positions Bloomreach to be the market-leading commerce experience platform in a multibillion-dollar market that is expanding quickly. As a solution, Bloomreach is now uniquely at the intersection of marketing, commerce and AI.”
