Bloomreach, a digital commerce experience platform that helps companies move fast to create, measure, scale, has acquired Exponea, the Customer Data and Experience Platform (CDXP). However, both the companies did not reveal the exact figures.
At the same time, the company has also announced a $150 million (approx £109 million) investment today from Sixth Street Growth. The latest funding values the company at $900 million (approx £655 million). Benjamin Johnston, Managing Director of Sixth Street Growth, will join Bloomreach’s Board of Directors.
Bloomreach helps companies to grow online revenue by creating, personalising, and scaling premium commerce experiences for customers across every touchpoint.
With a global footprint, Bloomreach powers over 25% of all e-Commerce experiences across the US & UK. It supports 300+ global enterprises including Neiman Marcus, CapitalOne, Staples, NHS Digital, Bosch, Puma, and Marks & Spencer.
“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.”
Set to transform commerce experiences
The combination of Bloomreach’s digital experience platform and Exponea’s customer data and experience platform can accelerate the speed of execution for businesses to create, personalise, and optimise powerful commerce experiences and accelerate revenue growth for both B2C and B2B brands.
Furthermore, the combination will deliver the only commerce experience platform that unifies the full spectrum of customer and product data for real-time AI-based recommendations.
Since Exponea is the leader in consumer data, privacy, and security, the current and future customers can securely access and manage this combination of data.
“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.”
“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.”