Canada-based digital transformation services provider OSF Digital received $100m in series C funding yesterday from investors including enterprise software provider Salesforce’s corporate venturing arm, Salesforce Ventures.
Private equity firm Sunstone Partners led the round with additional backing from Delta-v Capital, and it increased the company’s overall funding to over $166m since it was founded in 2003.
OSF provides tools for businesses to digitise their operations with a software suite that includes customer relationship management, analytics, cloud application development, loyalty programmes and content and order management systems.
The company will use the proceeds to boost its service capabilities, expand its sales and marketing activities and explore mergers and acquisitions.
Over the past three years, OSF has completed more than 10 acquisitions to expand its capabilities and geographical footprint. So far this year, it has purchased digital consulting firm FitForCommerce and agreed to buy marketing automation technology providers Netnomics and Datarati.
Salesforce Ventures also took part in a $43m funding round for the company in May 2021 that was led by Delta-v Capital, both having previously backed a $23m round in 2019. It was also one of the first four companies to receive funding from Salesforce Ventures’ $100m Canada-focused Trailblazer Fund in 2018.
Robert DeSisto, Salesforce’s senior vice-president of business strategy and growth and digital customer engagement, said: “We are pleased to be part of OSF Digital’s growth as they innovate on [business-to-business] and [business-to-consumer] multi-cloud digital transformation.
“We believe OSF is quickly becoming a leader for companies seeking to transform their business digitally.”
