Sitecore today claimed the largest ever capital investment in martech, announcing a $US1.2 billion investment to accelerate growth.
The huge boost, from a group of investors including current majority shareholder EQT, has the potential to elevate Sitecore alongside leading martech providers.
The company says the US$1.2 billion announced today will be used to “fuel product innovation, more than double go-to-market presence, expand geographic footprint and enhance global brand”.
Sitecore is an experience management software provider founded in 2001. It was acquired by EQT in 2016 when the Swedish based private equity group took a majority equity stake from its founders, Technology Crossover Ventures and other minority shareholders.
More recently, the company says it has recorded record revenues over the last three quarters with the ongoing pandemic proving a boon for digital marketing providers as organisations rushed online.
In a statement today Sitecore CEO Steve Tzikakis, who joined the company midway through last year, said an investment of such magnitude is “unprecedented” in the martech industry.
“As companies and consumers search for more seamless ways to communicate, co-ordinate 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.”
Sitecore celebrates its 20th anniversary this year. The company says it works with more than a third of the Fortune 100 and close to half of the S&P Global 100.