hybris Software Raises $30 Million Investment from Meritech, Greylock and Huntsman Gay
hybris, the world’s fastest-growing commerce platform provider ranked “leader” by both principal analyst firms, today announced that it has secured a $30 million investment from Meritech Capital Partners, Greylock Israel, both new shareholders in the company, and existing investor Huntsman Gay Global Capital (HGGC), which has been the company’s largest investor since 2011. George Bischof, a Managing Director at Meritech who led this equity round, has joined the hybris Board of Directors.
hybris will use the new funding to accelerate growth in emerging markets, further strengthen the company’s presence in North America and Europe, address additional verticals and make strategic add-on acquisitions. Over the past three years, hybris has generated organic revenue growth at a compound annual growth rate of approximately 70 percent, while still generating positive operating cash flows. hybris currently employs more than 600 people.
hybris is the only enterprise commerce suite incorporating commerce for all channels including the web and mobile, for both B2C and B2B, that includes powerful search and merchandising, master data management for commerce, order management, and web content management. And it is built on a single stack of modern, standards-based, service-oriented technology, providing the shortest time to innovation. hybris has a unique, flexible delivery approach. Customers can deploy hybris software with a traditional perpetual license, hosted by the customer or by hybris managed services, and hybris also offers an on-demand service (SaaS). Customers can switch deployment from on-demand to on-premise without replatforming.
“hybris is an exciting investment,” said Bischof. “Its OmniCommerce strategy is an opportunity for mid-sized businesses or large enterprises across the globe to make hybris as significant to customer-facing processes as ERP systems have become to back-end processes.”
“This financing represents another important step forward in reaching our goal to build hybris into one of the best and largest enterprise software companies in the world,” said Ariel Luedi, CEO of hybris. “With these additional resources, we will continue to innovate and build the best commerce solution in the marketplace, grow our geographic footprint and expand our partner ecosystem.”
“It is a tremendous advantage to have the support and guidance of such an experienced group of investors,” said Carsten Thoma, President and COO of hybris. “We are proud that HGGC continues to invest in our business, and that we were able to bring on Meritech and Greylock Israel, who both have an outstanding reputation and track record in the technology and software space.”
Meritech Capital, with over $2.6 billion under management, is a leading provider of late-stage venture capital to category-defining technology companies such as Facebook, Riverbed and Salesforce.com. Greylock Isreal has backed technology leaders including Wonga and JustEat in Europe and its affiliate fund, Greylock Partners, has invested in leading companies such as DoubleClick, LinkedIn, Success Factors and Workday in the United States.
“We are thrilled to partner with Meritech and Greylock Israel to help hybris fulfill its long-term vision and achieve its next stage of growth,” said Rich Lawson, Co-Founder and Managing Partner at HGGC and Chairman of the hybris Board of Directors.
About Meritech Capital Partners
Meritech Capital Partners is a leading provider of late-stage venture capital to category-defining private technology companies and has been one of the top performing venture firms of the past decade. With over $2.6 billion under management, Meritech primarily leads investments into companies with proven and differentiated technology, rapidly-growing revenue and experienced management teams. With one of the most active venture portfolios, Meritech has experience in, and provides guidance on issues facing rapidly growing companies including management incentive plans, IPO market timing and positioning, M&A strategies and negotiations and adviser selection. Meritech investments in industry-leading companies include BigFix, Broadsoft, Cornerstone OnDemand, Facebook, Fortinet, Fusion-io, Greenplum, Imperva, Netezza, NetSuite, PopCap, Proofpoint, Riverbed, Salesforce.com, Sourcefire, SpringSource, Tele Atlas and Zipcar. Meritech is located in Palo Alto, CA and can be found at www.meritechcapital.com.
About Greylock Israel
Greylock Israel is an affiliate fund of Greylock Partners and focuses on venture capital investments in Europe and Israel. Some of the fund’s investments include: Wonga, JustEat, iZettle, Aeroscout, Wanova, Actifio, Payoneer and Celeno. For more information about Greylock IL, visit www.greylockil.com. Over the past 45 years, Greylock Partners has worked with hundreds of companies, 150 of which have gone on to IPOs and 100 of which have gone on to profitable M&A events, including: Data Domain, DoubleClick, Facebook, Imperva, LinkedIn, Palo Alto Networks, Red Hat, RightNow Technologies, Success Factors, and Workday.
About Huntsman Gay Global Capital (HGGC)
Huntsman Gay Global Capital (HGGC), headquartered in Palo Alto, CA, is a $1.1 billion private equity fund focusing on leveraged buyout, recapitalizations and growth equity transactions in the middle market. With years of collective deal and operational experience, HGGC brings best practices from bulge-bracket private equity and global corporations to the middle market. For more information, please visit www.hggc.com.