Bloomreach Poised to be the Next E-commerce SaaS Unicorn with Acquisition of Exponea and $150M USD Investment from Sixth Street Growth
Fusion of the Bloomreach Digital Experience Platform and Exponea's Customer Data and Experience Platform Set to Transform Commerce
MOUNTAIN VIEW, Calif., Jan. 26, 2021 /PRNewswire-PRWeb/ -- Bloomreach, the leader in commerce experience™, today announced its acquisition of Exponea, the leading Customer Data and Experience Platform (CDXP). Bloomreach also announced an investment of $150 million from Sixth Street Growth to fuel the ongoing growth of its digital commerce experience platform (brX).
Bloomreach's market-leading e-commerce search and content services combined with Exponea's best-in-class customer data platform and marketing automation will create the first ever truly integrated product and customer data platform. This combination accelerates the speed of execution for businesses to create, personalize, and optimize powerful commerce experiences and accelerate revenue growth for both B2C and B2B brands.
"Incredible e-commerce experiences happen when we reach a customer with exactly the right product at the right time on the right channel, and that requires a deep understanding of products and people which hasn't been possible until now," explained Raj De Datta, CEO, Bloomreach. "The coming together of Bloomreach and Exponea positions Bloomreach to be the market-leading commerce experience platform in a multi-billion dollar market that is expanding quickly. As a solution, Bloomreach is now uniquely at the intersection of marketing, commerce, and AI."
Unlike other offerings that lack relevant data, are highly manual, and require teams to stitch together multiple solutions, the combination of Bloomreach and Exponea will deliver the only commerce experience platform that unifies the full spectrum of customer and product data for Bloomreach's real-time, AI-based recommendations, and actions that allow clients to drive purchases and loyalty. Further, Exponea's leadership in consumer data, privacy, and security ensures that current and future customers can securely access and manage this powerful combination of data.
"There are many powerful synergies we are excited to bring to our current and future customers," added Peter Irikovsky, CEO, Exponea. "Both Bloomreach and Exponea are leaders in their respective fields of commerce and are focused on different aspects of the customer journey. Together, we'll be the only solution provider capable of bringing holistic data, expertise, and intentionality to the way brands interact with their customers. I can't wait to see how our clients from both sides reap the benefits in how they operate and the results they generate, particularly in the U.S. market."
Investment details
To fuel its ongoing growth and support the acquisition of Exponea, Bloomreach today also announced an investment of $150 million from Sixth Street Growth.
"We have been incredibly impressed by the leadership teams of both Bloomreach and Exponea and look forward to partnering with them as they continue to develop and capitalize on their market-leading platform," said Michael McGinn, Partner of Sixth Street and co-head of Sixth Street Growth. "Technology serving more bespoke customer experiences is a rapidly expanding market and we are pleased to join Bloomreach in its leadership of the digital commerce experience and marketing sector."
Benjamin Johnston, Managing Director of Sixth Street Growth, will join Bloomreach's Board of Directors.
For information on how Exponea's data privacy will be handled post-acquisition, click here.
Macquarie Capital acted as exclusive financial advisor to Bloomreach.
About Exponea
Exponea is the world's leading Customer Data and Experience Platform (CDXP), rated number one in customer satisfaction, and the world's first GDPR certified SaaS company. Exponea prides itself on empowering marketers to be more relevant, efficient, and crazy fast. For more information, visit Exponea.com, follow us on Twitter @exponea, or on LinkedIn at https://www.linkedin.com/company/exponea.
About Bloomreach
Bloomreach is the leader in commerce experience™, powering brands representing 25% of US and UK e-commerce. Its flagship product, brX, is the only digital experience platform built specifically for B2B and B2C commerce businesses who want to grow their revenue online while delivering each of their customers a premium, personalized commerce experience. For more information, visit Bloomreach.com, follow us on Twitter @Bloomreach_tm, or on LinkedIn at http://www.linkedin.com/company/bloomreach.
About Sixth Street
Sixth Street is a global investment firm with over $50 billion in assets under management and committed capital. Sixth Street Growth is the firm's dedicated platform for making customized, non-control private investments in growth-oriented companies. The Sixth Street Growth team partners with companies and management teams to provide bespoke, accretive financing solutions that often fall between traditional growth equity and commercial debt. Sixth Street has invested over $4 billion in more than 40 companies in its growth investing strategy since inception. Select current and past representative Sixth Street Growth investments include Airbnb, AvidXchange, AvePoint, Gainsight, and MDLive.
Media Contact
Alison Minaglia, Bloomreach, 917 902 3404, [email protected]
Patrick Clifford, Sixth Street Growth, 646 906 4339, [email protected]
SOURCE Bloomreach
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