Billion Dollar Funding Fuels Rapid Growth for Sitecore

Digital experience management software firm Sitecore has announced a $1.2bn investment, in support of a major growth plan.

The firm which was founded in 2001 and since 2016 has been owned by Swedish private equity investor EQT, promises its clients help in building 'lifelong relationships with their customers', combining content management, contextual intelligence and automated ad targeting in one platform to deliver customised digital experiences. Partners include WPP and Merkle. After a hiccup in 2019, the company last September appointed a new CEO, Steve Tzikakis, who is based in the London office.

Quoted on www.cmswire.com , Tzikakis said in a statement that the money would allow the firm to 'fuel product innovation, more than double its go-to-market presence, expand its geographic footprint and enhance its global brand'. Specifically, it plans to open offices in Spain, Italy and the Middle East 'to meet growing demand in these markets'. He adds: 'An investment of this magnitude in our industry is unprecedented'.

Web site: www.sitecore.net .