Syndigo Announces Growth Equity Partnership with Summit Partners
The investment accelerates Syndigo's global growth and service offerings, ushering in the future of unified commerce software
CHICAGO, Dec. 16, 2020 /PRNewswire/ -- Syndigo, a leading provider of a software-as-a-service platform for product information management and syndication, today announced a growth equity partnership with Summit Partners ("Summit"), a global alternative investment firm. Existing investor, The Jordan Company ("TJC"), a New York-based private investment firm, participated in the round. The investment will support Syndigo's continued growth and global expansion, allowing the company to better serve its network of retailer, manufacturer and distributor clients.
In today's world of omnichannel global commerce, the demand for product information and content that is consistent across the physical and digital shelf is significant and growing rapidly. Constantly elevating consumer expectations puts pressure on brands and retailers to deliver consistent, shopper-centric experiences across online, offline, mobile, social media and hybrid channels. Syndigo's leading SaaS platform, The Content Experience Hub (CXH), forms a critical link designed to enable seamless collaboration across channels and among thousands of the world's largest brands and retailers. Today, Syndigo serves more than 12,000 manufacturers and 1,750 retailers and distributors across North America, Latin America and Europe. In 2020, Syndigo added over 1,500 new clients to their portfolio.
"Syndigo's vision is simple: to enable commerce globally. Brands and retailers are experiencing unprecedented demand for product information and transparency -- and our clients who use Enhanced Content on their product pages experienced more than $1 billion in incremental cart value over this year's Cyber Weekend," said Paul Salay, CEO of Syndigo. "We are excited to bring together the extensive technology and software experience of our new partners at Summit with The Jordan Company's experience with the Syndigo team. We are confident that this new partnership will accelerate Syndigo's growth and our goal to enable commerce in even more innovative ways on a global scale."
Summit Partners has a long history of investing in and supporting the growth of leading software and consumer businesses, including backing more than 30 companies at the intersection of commerce and technology. As a growth-focused investor, Summit works collaboratively with management teams, offering specialized resources designed to leverage experience and perspectives critical to growth companies.
"We believe Syndigo offers one of the most advanced and scalable solutions in the industry," said Peter Rottier, a Managing Director at Summit Partners, who has joined the Syndigo Board of Directors. "The Company's software offers an end-to-end solution designed to support the delivery of complete and verified product content and address the needs of brands, retailers and the ever-increasing expectations of the consumers that they serve. We are thrilled to collaborate with the Syndigo management team and The Jordan Company in this next phase of growth."
"Syndigo has experienced significant growth since our initial investment by demonstrating a consistent commitment to its clients through investment, innovation and support," said Eion Hu, Partner of The Jordan Company. "The addition of Summit Partners provides Syndigo with tremendous perspective and resources to drive even greater client productivity and growth. We look forward to continuing our partnership with Syndigo and its customers."
About Syndigo
Syndigo enables commerce by supporting the efficient transfer of product information through its network of brands and their customers. The company provides descriptive product and nutritional information, images and other digital media, powered by deep analytics to empower engaging brand experiences online and in store. Through Syndigo's integrated platform, Content Experience Hub, clients can publish, manage, syndicate and audit product content across the largest trading network of brands and recipients in the world.
Syndigo serves more than 12,000 manufacturers and 1,750 retailers and distributors globally in many important consumer industries including grocery, foodservice, hardlines, home improvement/DIY, pet, health and beauty, automotive, apparel, and healthcare products.
About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $23 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 500 companies in technology, healthcare and other growth industries. These companies have completed more than 160 public equity offerings, and more than 200 have been acquired through strategic mergers and sales. Summit has partnered with more than two dozen companies across the e-commerce and consumer landscape, including Brooklinen, Klaviyo, Philz Coffee, Quay Eyewear, Reverb.com, Sezane, TinyPrints, VeriShip, MercuryGate, and vente-privee.com. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please see www.summitpartners.com or follow on LinkedIn.
About The Jordan Company
TJC (www.thejordancompany.com), founded in 1982, is a middle-market private equity firm that has managed funds with original capital commitments in excess of $11 billion since 1987 and a 38-year track record of investing in and contributing to the growth of many businesses across a wide range of industries including Industrials, Transportation & Logistics, Healthcare & Consumer, and Telecom, Technology & Utilities. The senior investment team has been investing together for over 20 years and is supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, TJC also has an office in Chicago.
In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners LLP, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners LLP is a limited liability partnership registered in England and Wales with registered number OC388179 and its registered office is at 11-12 Hanover Square, London, W1S 1JJ, UK. This document is intended solely to provide information regarding Summit Partners' potential financing capabilities for prospective portfolio companies.
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