This morning, the Boston, MA-based Salsify – a leading SaaS, omnichannel content platform that allows easy and seamless creation and exchange of product content between manufacturers and retail partners – announced that it had raised $16.6 million in Series B funding. This recent round was led by Venrock and included participation from existing investors, Matrix Partners and North Bridge, as well as serial entrepreneur Michael Skok.
“With a roster of brands such as Newell Rubbermaid, 9 West Holdings and Bosch, as well as retail and technology partners like Walmart and Google, companies in the Salsify network can collaborate much more effectively to remain competitive in today’s e-commerce marketplace, simply by using rich product content to their advantage,” said Salsify cofounder and CEO Jason Purcell, in a statement. “We are thrilled that Venrock, Matrix and North Bridge also see our vision for a digital supply chain, and are enabling us to continue transforming the way retailers and suppliers communicate and collaborate.”
Salsify's platform allows manufacturers and retailers to simply create rich product content for online customers. Through their omnichannel SaaS system, information on products (from product descriptions to product images) are easily created and delivered on a much shorter timeline than what's typical; hence, there's significant increases in product discoverability, revenues, and brand loyalty.
According to Xconomy's Gregory T. Huang, this new financing will enable to company to continue developing their product, as well make new hires in the upcoming months and to further build relationships with their customers and partners (which now include companies like Walmart and Google). To date, Salsify has raised $24.6 million in overall funding.