Work management software producer Upland Software has bought Kapost, a US-based content operations platform backed by enterprise software provider Salesforce exit, for $45m.
Founded in 2010, Kapost offers software that helps companies to plan, produce, personalise and send marketing content sent to customers, and analyse it once it has been distributed.
The company will be rebranded to Upland Kapost and will become part of Upland’s enterprise sales enablement and customer experience management offering. The transaction consists of $45m in cash and another $5m that will be paid in a year’s time subject to indemnification claims.
Salesforce Ventures, the corporate venturing vehicle for Salesforce, took part in a $10.3m series D round for Kapost in 2015, investing with High Country Ventures, Access Venture Partners, Cue Ball Capital, Iron Gate Capital and Lead Edge Capital.
Kapost received $5.6m in a 2013 series C round backed by Lead Edge Capital, Floodgate and High Country Venture. The TechStars-incubated company had already raised $3.1m prior to that round, from investors including High Country, Highway 12 Venture, Zelkova Ventures and Circle P Capital.