The capital injection included participation from previous investor PSGAssembly, a leading eCommerce software and data platform, today announces a significant capital injection led by Advent International (“Advent”), one of the largest and most experienced global private equity investors.
PSG, a leading growth equity firm partnering with middle-market software and technology-enabled services companies, also participated in the round.This round, which has boosted Assembly’s valuation to north of $1 billion, will be used to continue fueling its growth plans and mission to provide the best software, content and communities that support eCommerce merchants.“What aggregators have done for brands, we have been doing for software,” says Sandeep Kella, Co-founder and CEO of Assembly.
“We are singularly focused on helping eCommerce merchants grow better by bringing together software tools and combining them with valuable content.
Our mission is to meet our customers’ needs at every stage of their growth.”In the last two years, Assembly acquired five companies, successfully launched 30+ new products to support users, and helped its customers scale revenue more than 125% in aggregate.
This results in record growth for Assembly with a 260% increase in ARR since 2019, 230% increase in paying customers, and more than $55B in gross merchandise value directly connected to its applications.Navigating the complexities of today’s eCommerce market, however, cannot rely solely on software.
The company aims to offer best-in-class solutions regardless of where an eCommerce merchant is selling, whether that be marketplaces, direct-to-consumer websites, or, more recently, social networks.“There are millions of eCommerce merchants globally that need world-class software to operate more profitably in an increasingly complex multi-channel world,” said Eric Wei, a Managing Director on Advent’s technology team in Palo Alto.