Posted August 24 , 2021
HUNTSVILLE, Ala. and LONDON, Aug. 18, 2021 /PRNewswire/ -- Permira, the global private equity firm which backs leading, scaling, tech-enabled businesses, today announced that it has made a strategic investment in CommentSold, a leading digital commerce solution that enables small and medium-sized retail businesses (SMBs) to unlock sales growth through live and social selling. The company will use the investment to accelerate its next phase of business growth. CEO Brandon Kruse, who has driven CommentSold's rapid expansion over the past four years, will continue to lead the company alongside the existing management team. Previous investor ZMC will exit its position as part of this transaction.
CommentSold is a cloud-based SaaS platform that enables live and social selling across multiple shopping platforms and channels, including social media networks, merchants' own websites and their CommentSold-powered branded mobile apps, which drive nearly 80% of sales. The platform helps retailers optimize business functions such as invoicing, merchandising, inventory management, fulfillment and marketing, enabling them to offer a range of payment options, recommend products, send push notifications, prerecord videos for product demonstrations and offer replays of previously recorded livestreams to shoppers on demand, among other capabilities.
The company currently provides more than 6,000 independent sellers and SMBs with the end-to-end technology, tools and educational support they need to simplify and integrate their retail operations. In the trailing twelve months, CommentSold generated over $1 billion in gross merchandise value (GMV) and shoppers viewed more than 1 billion minutes of content on the platform. Today, the company has over 12 million registered users.
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