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Digital experience software provider Sitecore got another billion-dollar plus nod for its software. The company announced this week that it received a $1.2 billion private investment. This comes nearly five years after EQT, a private equity investor, acquired Sitecore for $1.14 billion.
Sitecore CEO Steve Tzikakis said in a statement shared with CMSWire, “This investment will enable us to fuel product innovation, more than double our go-to-market presence, expand Sitecore’s geographic footprint and enhance our global brand. In fact, with these funds, we already have plans to open offices in Spain, Italy and the Middle East to meet growing demand in these markets.”
Sitecore officials are calling this the largest-ever capital investment in the martech space. While the claim is hard to verify since not all companies share data on private investments, the funding is far from insignificant.
Founded in 2001, Sitecore will celebrate its 20th anniversary this year. The past five years have been busy ones for both Sitecore and its competitors, categorized by billion-dollar plus acquisitions. Salesforce has easily spent the most money in the space since 2016. Acquia has been the most active recently, with four buys alone in 2019. Adobe claims the largest martech-to-martech acquisition in its 2018 Marketo buy for $4.75 billion. Adobe and Salesforce are public entities while Sitecore, Episerver and Acquia are private and have had billion-dollar private-equity investments in the past five years.
In other customer experience and digital marketing software news ...
Adobe Experience Platform Delivers Tools for Retailers
Adobe has unveiled new tools in Adobe Experience Platform to help retailers grow their digital businesses. The updates allow Adobe to support brands as they evolve their approach to data and personalization, according to Adobe officials.
The update includes capabilities to improve how discounts are personalized and deliver faster websites and apps, officials added.
With Customer Journey Analytics, built on Adobe Experience Platform, retailers can also now leverage AI to detect broken experiences or to uncover new opportunities. It extends anomaly detection beyond the website as shoppers move between channels.
Decisioning capabilities are designed to deliver real-time signals to retailers that capture interactions happening across different channels. Adobe Experience Platform also now includes Launch Server Side with the goal of increasing performance by moving work once done in the browser — or on a mobile device — to the server.
Adobe also announced that customers can leverage Adobe Experience Manager (AEM) via the AEM SPA editor to edit storefronts built with PWA Studio, Magento’s Progressive Web App (PWA) framework designed with a headless approach.
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Acquia Announces Digital Commerce Offering
Acquia has announced Acquia Digital Commerce, a solution to unify data, content, commerce and digital merchandising. Customers will be able to use Acquia Digital Commerce with Acquia Open Digital Experience Platform (DXP). It was built with partners commercetools and through an integration with Lucidworks.
Acquia Digital Commerce, which includes a microservices-based architecture, can support multi-tenant architectures and composable, multi-site experiences, according to Acquia officials. Lucidworks contributes an AI-powered product discovery solution.
Acquia also this week announced the Acquia DX Alliance, an open technology partner community providing choice and jointly delivering interoperable solutions that extend Acquia Open DXP.
Observe.AI Partners with UJET
Observe.AI, which provides software for contact centers, has announced a partnership with UJET, a Contact-Center-as-a-Service (CCaaS) 3.0 cloud contact center provider.
This partnership will feature capabilities in data, intelligence and automation. The Observe.AI and UJET partnership provides intelligence and automation for UJET customers. The joint solution will also make it possible for brands to identify opportunities to drive growth and improve coaching based on customer sentiment signals.
Joint customers can go live in about two to four weeks, according to company officials.
SOCi Nets $80M Series D Investment
SOCi, a digital marketing platform that provides localized marketing, has announced it has closed a Series D investment round of $80 million, led by JMI Equity. Additional participants included existing investor Ankona Capital along with personal investments from SOCi’s CEO and co-founder Afif Khoury and Seismic co-founder and CEO (and SOCi board member) Doug Winter. SOCi wants to accelerate its growth with investments in its sales and marketing teams, product innovations and strategic M&A activity.
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