hybris Software Raises $30 Million Investment from Meritech, Greylock and HGGC | News | HGGC

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Mar 05, 2013

hybris Software Raises $30 Million Investment from Meritech, Greylock and HGGC

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.