Vistex, a supplier of go-to-market software, has received a minority equity investment of an initial $65 million, and up to an additional $40 million, for future strategic acquisitions from Accel-KKR (AKKR), a technology-focused private equity firm.
Founded in 1999, Vistex is a worldwide operation with 20 offices, 1,500 employees and nearly $250 million in revenue last year. The company serves businesses of all sizes, enabling mission-critical processes that manage trade, channel and vendor programs, pricing, performance incentives and rights and royalties. Vistex complements its array of software offerings with implementation, business advisory and analytics services.
As Vistex embarked upon its aggressive expansion especially in its cloud portfolio, it undertook a disciplined approach to seek a strategic partner to support its growth objectives.
“This is the first equity capital raise in the history of the company,” said Sanjay Shah, the company’s founder, chief architect and CEO. “This infusion will provide us with the opportunity to further expand Vistex into new markets, conduct strategic acquisitions in new technologies and increase R&D efforts in AI and other capabilities.”
The capital investment will also support a variety of company priorities, including talent acquisition in sales, marketing and engineering from area universities and colleges.
“We are excited about partnering with Vistex to build on their past success and deliver more value to their customers, partners and employees,” said Greg Williams, Managing Director at Accel-KKR.