Digital experience management software provider Sitecore has announced that it has secured backing for a large-scale growth plan fueled by $1.2 billion in investment. This massive investment, the largest-ever capital investment in the marketing technology (martech) space, comes less than five months after Steve Tzikakis joined the digital experience delivery leader as CEO.
Sitecore is positioned for growth, achieving record revenues over the last three quarters. According to data from McKinsey, the industry jumped five years forward in consumer and business digital adoption in a matter of just eight weeks due to the shift in demand for digital experience solutions caused by the pandemic.
“An investment of this magnitude in our industry is unprecedented,” said Steve Tzikakis, CEO, Sitecore. “As companies and consumers search for more seamless ways to communicate, co-ordinate and collaborate during this momentous period, Sitecore’s investment will supercharge product innovation in order to better enable deeper and more engaging experiences across the entire customer journey.”
“With Sitecore’s support, Mashreq Bank was able to rapidly develop and launch a new Mashreq digital experience portal (mashreq.com) just as COVID-19 was upending the traditional banking industry in 2020,” said Thomas Cherian, Head of Retail Banking Technology at Mashreq. “It is our key priority to provide our customers in the Middle East with a seamless, user-friendly digital experience portal, and the Sitecore Experience Platform was the best choice for us in terms of its agility and flexibility. Between launching our all-new platform in less than five months and this exciting announcement from Sitecore, we have much to look forward to regarding our future work and integration with the company to continue delivering superior digital banking experiences.”
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