High Score Labs News • Aug 18, 2021
Five months after Steve Tzikakis became the CEO of Sitecore. An important event in the history of marketing technology took place this year.
Reputable digital experience platform – Sitecore achieved a massive feat in the marketing technology space. This achievement came to light when Sitecore announced the record-breaking investment of 1.2 billion USD. It was a noteworthy achievement because it was by far the most incredible investment in marketing technology history.
This 1.2 billion USD investment into Sitecore was inspired by the remarkable volume of growth the digital experience company underwent in recent times. For more than three quarters, there have been significant increments in profits generated by the Sitecore team. The most recent was Sitecore’s 100 million dollars revenue collated at the end of 2020. It was apparent that the potentials of Sitecore was promising. It was, therefore, worth the risk to infuse a growth accelerant of over 1 billion USD into Sitecore’s future endeavours.
Analysts have been deeply concerned about the plans of Sitecore as regards the spending of this 1.2 billion dollars. In a report on Sitecore’s official website, Sitecore explained that this capital will be instrumental in expanding the geographic footprint of the global digital experience leader while developing product innovation and brand awareness.
CEO of Sitecore – Steve Tzikakis said that “an investment of this magnitude in our industry is unprecedented”. Sitecore further went on to say on sitecore.com that “As companies and consumers search for more seamless ways to communicate, coordinate and collaborate during this momentous period, Sitecore’s investment will supercharge product innovation to better enable deeper and more engaging experiences across the entire customer journey.”
Why did Sitecore’s revenue growth become so rapid? It is worthy to note that the pandemic had a role to play. Admittedly, sitecore was not just an opportunist because opportunities can only be utilized when preparation meets opportunity. Sitecore was incredibly prepared.
In the United States, reputable sources revealed that ten years of growth before the pandemic was equivalent to 3 months of e-commerce growth during the pandemic.
In the covid 19 digital engagement report presented by Twillo, it was reported that COVID-19 hastened businesses’ “digital communications strategy by an average of 6 years while 97% of enterprise decision-makers believe the pandemic sped up their company’s digital transformation”
There was a surge in demand for digital solutions during the pandemic. Companies were determined to become a force to reckoned with in the digital space. And most corporations supported this determination by investing more in finding more user-friendly, seamless, and more flexible digital solutions.
As 2021 continues to unfold, we expect to see greater investments in companies providing digital solutions for established and fledgling businesses.
Beyond every doubt, the marketing technology space will continue to evolve. Investors will capitalize on this growth by investing heavily in promising digital experience giants. Companies like Sitecore will achieve remarkable milestones. Like Sitecore, you can as well prepare to capitalize on changing global economic situations.