Optimizely Announces Series D Funding Led by Goldman Sachs, Catapulting Digital Experience Optimization Into the Mainstream
Optimizely secures $50 million from Goldman Sachs and Accenture Ventures, bolstered by additional $55 million financing from Bridge Bank
SAN FRANCISCO, June 18, 2019 /PRNewswire/ -- Today, Optimizely, the world's leader in digital experience optimization, announced it has closed US$105 million in financing, including US$50 million in Series D funding. The funding, led by Goldman Sachs Private Capital Investing, also included Accenture Ventures. This brings the company's total funding to US$200 million. Additionally, Michael Kondoleon of Goldman Sachs will join Optimizely's Board of Directors as a Board Member.
Digital Experience Optimization Hits the Mainstream
Industry-leading organizations are embracing digital experience optimization as more than a quarter of the Fortune 100 have chosen Optimizely's experimentation and personalization platform. The category has exploded, and Optimizely customers like Gap, Visa, StubHub, as well as digital leaders like Metromile, Lending Club, and Sonos, are making experimentation a mainstream business best practice.
In the last two years, Optimizely's customers have tripled their investments in digital experience optimization with the company's highly scalable infrastructure now handling over 6 billion events a day. Optimizely has consistently deployed breakthrough products and the company's machine learning capabilities have been shown to double website visitor conversion rates. Recent platform additions also ensure that Optimizely serves the needs of the developer community through feature management, feature flagging, and testing in production to ensure organizations can safely launch a new product, feature, or experience.
"Optimizely is recognized as a leader in the experimentation space and the solution of choice for numerous global brands. We're pleased to have Accenture onboard as a co-investor in the Series D. We see a substantial market opportunity ahead for Optimizely, and we are excited to help fuel their continued growth," said Michael Kondoleon, vice president at Goldman Sachs Private Capital Investing.
Optimizely also extended its line of credit with Bridge Bank in this latest investment round. Combined with the additional funding from Goldman Sachs and Accenture Ventures, this investment signals a tipping point for the category of digital experience optimization, with Optimizely the clear innovator and category leader.
"Bridge Bank is proud to continue working with Optimizely, a global leader at the forefront of the digital experience optimization market," said Mike Lederman, senior vice president and western region director of Bridge Bank's technology banking group. "Optimizely is on a path of substantial growth and the additional capital will help them continue to build market-leading products that are used by an increasing number of top global brands."
Accenture Interactive Doubles Down on Experience Optimization Offering with Strategic Investment in Optimizely
Accenture Interactive and Optimizely have been teaming together since 2013 to help some of the leading brands transform customer experiences to drive superior business outcomes. "Today's business leaders are aware of the importance of experience but nevertheless struggle to continuously optimize and personalize their channels consistent with their customers' expectations," said Matty Wishnow, managing director of experience design & optimization at Accenture Interactive. "We know well that experimentation is the quickest, most confident path to better user experiences and returns on investment. Optimizely has a platform that truly transforms how experiences work for both the business and the customer."
With this new investment, Accenture Interactive and Optimizely will work more closely together to deliver high-value services along with Optimizely's best in class software platform.
"We're thrilled to have the backing of one of the most respected financial institutions in the world. Goldman Sachs' investment in Optimizely is a clear indication that the digital experience optimization market is growing rapidly and that Optimizely is the leader in this space," said Jay Larson, CEO of Optimizely. "As more business is done online, companies understand that optimizing the digital experiences they deliver to their customers is the difference between winning and losing in their respective markets. Building experimentation into your company culture requires the best platform and the best services. The combination of Optimizely and Accenture can deliver game-changing value to companies that are serious about winning in today's digital economy."
About Optimizely
Optimizely is the world's leader in digital experience optimization, allowing businesses to dramatically drive up the value of their digital products, commerce and campaigns through its best in class experimentation software platform. By replacing digital guesswork with evidence-based results, Optimizely enables product and marketing professionals to accelerate innovation, lower the risk of new features, and drive up the return on investment from digital. Optimizely's impressive customer list includes Visa, BBC, IBM, Wall Street Journal and many more global enterprises. To learn more, visit optimizely.com.
About Bridge Bank
Bridge Bank, a division of Western Alliance Bank, Member FDIC, helps business clients realize their growth ambitions. Founded in 2001 in Silicon Valley, Bridge Bank offers a better way to bank for small-market and middle-market businesses across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank delivers a broad scope of financial solutions including growth capital, equipment and working capital credit facilities, sustainable energy project finance, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans, ESOP finance and a full line of international products and services. Based in San Jose, Bridge Bank has eight offices in major markets across the country along with Western Alliance Bank's powerful array of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation. One of the country's top-performing banking companies, Western Alliance is ranked #1 regional bank by S&P Global Market Intelligence for 2018 and in the top 10 on the Forbes "Best Banks in America" list for four consecutive years, 2016-2019. For more information, visit bridgebank.com.
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