PivotLink, a provider of retail performance management solutions has closed an additional $13 million in financing. The 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, 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:
— Innovation in next generation analytics and mobile BI: Customers
praised the introduction of PivotLink 5, the latest release of
PivotLink’s market-leading SaaS Business Intelligence (BI) platform.
PivotLink 5 features native support for iPad, Android and BlackBerry
PlayBook, on-the-fly visualization and streamlined administration.
— New retail applications and data services: At the National Retail
Federation Convention & Expo this week, PivotLink launched
PivotLink Customer Performance Management, an application that allows
online and omni-channel retailers to improve Customer Lifetime Value,
and the PivotLink Retail Data Library, a solution that gives retail
marketers a single interface to explore data from any operational,
social, mobile or location-based source and improve retail
— Growing adoption and high customer loyalty: New customer wins and
existing customers that expanded their relationship with PivotLink in
2011 include: Fifth & Pacific Companies (formerly Liz Claiborne),
Kelly-Moore Paints, Diamond Resorts International(R), Fusion
Marketing, Distribution Market Advantage (DMA), Shaklee, and many
others, including leading retailers in fitness products, fine jewelry
and the nation’s largest provider of heavy-duty truck and trailer
— Industry recognition: PivotLink racked up more industry accolades by
being named to the AlwaysOn “Global 250,” AlwaysOn “OnDemand Top 100″
and JMP Securities’ “2011 Hot 100: The Best Privately Held Software
Companies.” PivotLink also saluted customer Timbuk2, winner of
Aberdeen Group’s “2011 Industry Achievement Award for Business
Analytics Excellence in retail analytics.”
— Company growth: PivotLink expanded operations at its San Francisco,
California headquarters and its development and services operation in
Bellevue, Washington by hiring in engineering, sales, services and
marketing and transitioning Acteea employees to PivotLink as a result
of the acquisition. The company continues to hire in 2012 to meet its
aggressive growth plans.
Read PivotLink case studies at www.pivotlink.com . Join us on Twitter @PivotLink or www.twitter.com/pivotlink .
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.
About PivotLink Corporation
PivotLink is the leader in on-demand retail 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 .
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.