Profitero, a leading global enterprise eCommerce SaaS analytics platform, announced a new executive leadership team and raised $20 million to fuel its next stage of growth.
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Profitero announced a new executive leadership team and raised $20 million to fuel its next stage of growth.
Bryan Wiener, a 25-year digital marketing and SaaS industry veteran, has joined as Chief Executive Officer. Sarah Hofstetter, an award-winning marketing executive and current member of the board of directors for Campbell Soup Company, has joined as President. Sandor Palfy, former CTO of LogMeIn, has joined as Chief Technology Officer. For the past three months, Wiener, Hofstetter and Palfy have been serving as special advisors to Profitero’s board, developing a growth strategy and product roadmap to benefit customers, employees and shareholders.
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The $20 million Series B investment round was led by Scaleworks with participation from Conviction Capital. Scaleworks Venture Equity Fund was created to invest in high-potential SaaS businesses that could benefit from increased focus on strategy, go-to-market and team building.
“eCommerce was already on a major growth trajectory, but COVID-19 has sent it into hyperdrive by forcing consumers to adopt online ordering behaviors at a much faster rate,” said Lew Moorman, Co-Founder and General Partner at Scaleworks. “These major shifts in digital purchase behavior have created a large opportunity for Profitero as one of the few platforms capable of helping brands optimize their digital businesses across thousands of retailer sites and at global scale. With Bryan, Sarah and Sandor onboard, Profitero has the veteran leadership it needs to remain the leading global innovator in the market.”
“A decade ago, search and social media were the hot trends keeping CEOs and CMOs up at night; now it’s digital commerce. The pattern is the same: consumers are shifting behavior, and brands must follow suit or face irrelevance,” said Wiener, Profitero’s CEO. “The complexity and dynamic nature of eCommerce requires platforms like Profitero to ensure brands are putting the right product in the right place at the right time with the right level of promotion behind it.”
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