Salesforce Acquires Evergage, Will Use Personalization to Enhance Customer Data and Deliver More Relevant Experiences
Feb 07, 2020, 09:30 ET
SANTA MONICA, Calif., Feb. 7, 2020 /PRNewswire/ -- On Monday, Salesforce acquired Evergage, the leading software platform for real-time 1:1 personalization, to accelerate the company's efforts to offer enhanced personalization solutions to its thousands of customers.
This acquisition comes on the heels of Evergage being named a Leader in The Forrester WaveTM: Digital Intelligence Platforms, Q4 2019. In addition, Evergage earned numerous awards in 2019, most recently being named "CDP of the Year" and "Personalization Tech Solution of the Year" in the inaugural Rele Awards.
Evergage had raised $26 million prior to the acquisition by Salesforce. Arrowroot Capital led the last two rounds alongside investors G20 Ventures and Point Judith Capital.
"The acquisition by Salesforce highlights Evergage's industry leading product and its ability to service clients. Early on it was evident Karl and Greg had a clear comprehension of the needs of the industry and where it was heading," said Matthew Safaii, Founder and Managing Partner at Arrowroot Capital, who partnered with Evergage's Founders, Karl Wirth and Greg Hinkle, and sat on the board since 2016. "It has been a remarkable four year journey with Evergage. Arrowroot could not be happier for the team."
"Evergage's mission has always been to personalize the world, and we've been doing that one client at a time for nearly ten years," said Karl Wirth, Founder and CEO of Evergage. "Arrowroot has been an amazing investor and partner for Evergage helping us to build the company. Now, as a part of Salesforce, we'll be able to do what we do better and at a much greater scale and pace than we ever could before."
About Arrowroot Capital
Arrowroot Capital is a global growth equity firm based in Santa Monica, CA, focused on minority, majority, and buyout investments in B2B software companies. The firm serves as a catalyst for growth-related initiatives by partnering with management and leveraging its deep enterprise software expertise to deliver meaningful, tangible value. Learn more at www.arrowrootcapital.com.
About Evergage
Evergage's real-time personalization and customer data platform (CDP) delivers The Power of 1, enabling companies to transform the dream of 1-to-1 engagement, across channels, into reality. Combining in-depth behavioral analytics and advanced machine learning with data from existing sources, Evergage provides the one solution companies need to build a single, comprehensive view of each customer and prospects and activate that data to deliver maximally relevant, individualized experiences – "in the moment," across touchpoints and at scale. Evergage's powerful and flexible cloud-based platform delivers personalization to millions of customers and visitors of hundreds of leading organizations across industries, including Autodesk, Carhartt, Citrix, Publishers Clearing House and Zumiez.
SOURCE Arrowroot Capital
