San Francisco, Calif., Jan. 17, 2012 – PivotLink, the leading provider of retail performance management solutions delivered via Software as a Service (SaaS), today announced it recently closed an additional $13 million in financing. The funding accelerates PivotLink’s strategy to expand its market-leading SaaS analytics offering with a suite of on-demand retail performance management applications.
PivotLink’s funding was led by existing investors Trident Capital, Emergence Capital Partners and Starvest Partners, firms that were early investors in Qualys, SuccessFactors and NetSuite. PivotLink added Pelion Venture Partners as a new investor from the acquisition of privately-held Acteea, Inc., announced separately this week. Based in Salt Lake City, Utah, Acteea provides SaaS e-commerce analytics solutions for customer scoring.
The financing, including the Acteea component, was completed in December 2011 and brings PivotLink’s total equity raised to $32 million after three previous rounds.
“This funding reflects the tremendous success PivotLink is achieving and the exciting opportunity to help retailers strengthen relationships with increasingly connected consumers by improving business insights,” said Bruce Armstrong, president & CEO, PivotLink. “We’re very well positioned to accelerate our next stage of growth and extend our market leadership with SaaS retail performance management solutions that are easy to use, highly scalable and deliver business value in a fraction of the time and cost of legacy approaches.”
“We are very happy to be PivotLink’s newest investor,” said Blake Modersitski, managing director of Pelion Venture Partners. “With the company’s clear focus on the rapidly growing retail industry segment of SaaS business analytics – coupled with recent brand-name customer wins and the acquisition of Acteea’s e-commerce analytic solution – we think PivotLink has everything in place to be extremely successful.”
Caps a Year of Growth
Today’s announcement builds on PivotLink’s momentum:
Find PivotLink at this week’s National Retail Federation (NRF) 101st Annual Convention and Expo (booth #158) through January 18, 2012 at the Jacob K. Javitz Convention Center in New York City, NY and the Outdoor Retailer Winter Market (booth #106) January 19 – 21, 2012 in Salt Lake City, UT.
PivotLink is the leader in on-demand business performance management applications, serving retail and retail-related customers such as: REI; Fifth & Pacific Companies (formerly Liz Claiborne); Kelly-Moore; Timbuk2; Party City; Car Toys; Rossignol; Shaklee; and Zones. PivotLink’s on-demand platform powers roughly 2,000,000 ad hoc reports and dashboards for more than 15,000 PivotLink users each month. PivotLink’s award-winning solutions put affordable, secure and easy-to-use analytic tools into the hands of line of business users. PivotLink is a privately held company backed by Trident Capital, Emergence Capital Partners, StarVest Partners and Pelion Venture Partners. Visit www.pivotlink.com.
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PivotLink is a trademark of PivotLink Corporation. Other product and company names may be the trademarks of their respective owners. This press release is for informational purposes only and no offer to buy or solicitation of an offer to sell any securities is made hereby. The forward-looking statements in this release are subject to unknown risks and uncertainties and do not constitute guarantees of future performance. Actual results, performance or achievements of the company may differ materially from results, performance or achievements of the company expressed or implied by such forward-looking statements.