E-commerce software and data platform, Assembly, has announced a substantial capital injection led by one of the most experienced global private equity investors, Advent International. PSG, a leading growth equity firm, also participated in the round.
A step in the right direction
The round has boosted Assembly’s valuation to more than $1 billion (£733,112,469). This will predominantly contribute towards the growth and development of the company in its mission to provide the best software for e-commerce merchants.
This news is a win-win situation for the brand as well as its loyal customer base with e-commerce merchants now able to scale their performance marketing channel.
Co-founder and CEO of Assembly, Sandeep Kella, said: “What aggregators have done for brands, we have been doing for software. We are singularly focused on helping e-commerce merchants grow better by bringing together software tools and combining them with valuable content. Our mission is to meet our customers’ needs at every stage of their growth.”
Off to a good start
In the past two years alone, Assembly has acquired five companies, successfully launched over 30 products, and helped its customers scale revenue more than 125% in aggregate. This has led to the company achieving record growth with a 260% increase in ARR since 2019, a 230% increase in paying customers, and more than $55 billion (£40,329,783) in gross merchandise as a direct result of its applications.
Advent is one of the largest and most experienced global private equity investors. A managing director on the firm’s technology team in Palo Alto said: “There are millions of e-commerce merchants globally that need world-class software to operate more profitably in an increasingly complex multi-channel world. Assembly is a clear SaaS leader in terms of market intelligence data, user community, and merchant relationships. With Advent’s capital, we believe Assembly will become the industry platform to enable all merchants to thrive.”