Growth Fueled by Significant Increase In Product Capability and Global Expansion
Salsify, the Commerce Experience Management (CommerceXM) platform empowering brand manufacturers, distributors, and retailers to win on the digital shelf, today announced it ended 2021 with $111 million in annual recurring revenue, a 53% increase over 2020.
The company now serves 1160 customers, a 36% increase over the prior year. Additionally, Salsify’s employee base grew 84% to 745 employees worldwide. In its commitment to power open collaboration and content exchange between suppliers and retailers, the company acquired Alkemics in France and its Supplier Experience Management (SupplierXM) platform for retailers as well as SKUVantage in Australia to expand the Commerce Experience Network of retailers worldwide. In recognition of the company’s growth, it was named a Fast Growing Company in North America on the 2021 Deloitte Technology Fast 500™.
In 2021, Salsify added new customers such as Le Creuset, Colgate, Sanofi, Treasury Wine Estates, Fluke Electronics, Mr Bricolage, Leadersanté, UberEats, Cajoo, GoPuff, Gorillas, and Flink. In addition, existing customers such as Perdue, Revlon, Coke, Metro, Intermarché, Leclerc, and Mars expanded their partnership with Salsify in 2021. The company has consistently achieved net dollar retention rates in excess of 116% in consecutive years, which is considered best-in-class for enterprise SaaS businesses and is reflective of the confidence Salsify’s customers have in the platform to help drive success on the digital shelf.
In 2021, more than 33,000 Salsify Product Experience Management (ProductXM) users added in excess of 9.7 million new products to the platform and activated product content across almost 5.2 million distinct product pages. One hundred six million workflow tasks were completed to drive cross-team collaboration required to get product content to the digital shelf efficiently.
“In a cord-cutting, digital-first world, the commerce experience your brand presents online is your brand,” said Rob Gonzalez, co-founder, and CMO of Salsify. “Our platform is designed from the ground up to serve as the product cloud brands need in a multi-channel world, and the value we drive for our customers in that world is reflected in our growth. We look forward to continuing adding even more value for them in the years to come.”
The company’s global partner network expanded dramatically in both size and impact in 2021, driving 4X revenue growth in partner-led opportunities over 2020. Additionally, Accenture added ProductXM as one of their select Tier 1 Emerging Platforms.
Growth at this scale demands a great team culture. In 2021, Salsify was certified as a Great Place to Work(R). Salsify was also recognized for Best Company Culture, Best Company Happiness, Best CEOs for Diversity, Best CEOs for Women, Best Product & Design Team, and Best Places to Work in Boston. Most significantly, the company announced the findings of an inaugural report, “Equity, Diversity, and Inclusion: Leading With Equity.” This landmark report is a critical first step to outline Salsify’s ED&I strategy and benchmarks Salsify’s current progress, and sets aggressive goals for the future. The report, to be issued annually, can be found here.
Product innovation remained a cornerstone for Salsify, which invested more than $32 million in R&D in 2021, up over 40% from 2020. In 2022, the Company expects to grow its R&D investment by another 46% to $47 million.
The company was honored to have been named a “Leader” in analyst reports from Forrester and IDC and to be listed as an “Exemplary” vendor — the highest-ranking category — and “Value Index Leader” in the Ventana Research report. Get more information on Salsify’s 2021 product innovation here.
For more information about working at Salsify, visit Salsify Careers. To learn more about how Salsify helps brands optimize their presence on the digital shelf, visit Salsify’s What Is the Digital Shelf.
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