Permira funds lead USD92m Series F funding round for Seismic
A company backed by Permira funds has led a Series F round of USD92million in Seismic, a sales enablement and marketing orchestration platform provider.
In addition to its capital investment, the Permira funds have also made a secondary investment, becoming Seismic’s largest shareholder. This round brings the total raised by Seismic to around USD270 million to-date and values the company at close to USD1.6 billion.
“Permira’s investment in Seismic is a tremendous testament to Seismic’s market opportunity, team, and overall momentum. Permira’s experience investing in leading enterprise software companies will help us accelerate Seismic platform innovations, international expansion, and M&A efforts,” said Doug Winter, Seismic co-founder and CEO.
New strategic investors include Ameriprise Financial and EDBI, a global investment firm in Asia. Existing investors participating in the round include Jackson Square Ventures, Lightspeed Venture Partners, and T Rowe Price.
The funding will be used for accelerating Seismic’s innovation, international growth, and M&A activity. “We founded Seismic ten years ago to enable marketing and sales teams to engage with prospective customers with the right content at the right time - delivering tailored, personalised experiences at scale,” commented Winter.
Founded in 2010 with headquarters in San Diego, Seismic has more than 900 global employees across 14 offices. It was named Forbes’ America’s Best Startup Employers of 2020, Comparably Top Leadership Teams of 2020, and Inc. Magazine’s Best Workplaces of 2020.
During the first half of 2020, Seismic reached a 148 percent increase in active users over the prior year period, driven in part by the world’s shift to digital and remote work, according to the company. Seismic has also expanded its Seismic Storytelling Platform with the acquisition of Percolate in November 2019.
Seismic now focuses on international expansion, which includes having opened offices in France, Germany, and Australia in the past year.