Searchspring

Canaccord Genuity Advises Leading Ecommerce Enablement Software Company Searchspring on its Strategic Growth Investment from PSG

Canaccord Genuity is pleased to announce it has advised Searchspring, a global leader in site search, product merchandising, and ecommerce personalization, on its strategic growth investment from PSG, a leading growth equity firm partnering with software and technology-enabled services companies to help accelerate their growth. PSG’s investment enables Searchspring to accelerate growth of its ecommerce site-search, product merchandising, and personalization platform within the ecommerce space.

Since its start in 2007, Searchspring has focused on enabling ecommerce merchants to drive the ultimate shopper experience. Purpose built for ecommerce, merchants use the Searchspring platform to enable better product discovery through semantic site search capabilities and flexible product merchandising, which includes business rules as well as AI-driven campaigns. The Searchspring personalization suite further helps to get the right product to the right shopper at the right time.

Not only does Searchspring help drive improved shopper experience, but its insights, data, and reporting give merchants a detailed look at shopper behavior and search performance unlike that of other ecommerce platforms. With Searchspring, customers such as Chubbies, Pura Vida, Moen, Fabletics, Peet’s Coffee, SKIMS, West Elm, Specialized, Wildfang, and Ripcurl are increasing cart size, conversion, and repeat customers. Searchspring has offices in San Antonio, Denver, Colorado Springs, Portland, Toronto, Krakow, and Sydney.

PSG's investment is expected to expand Searchspring’s strategic roadmap and accelerate product innovation to help customers continually improve their shoppers’ experiences. The investment also positions Searchspring for further go-to-market expansion in the U.S. and internationally.

PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities, and build strong teams. Having backed more than 110 companies and facilitated in excess of 400 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid, and Tel-Aviv.

Canaccord Genuity, with a team led by Sanjay Chadda and Andrew Cohen, served as the exclusive financial advisor to Searchspring. Scaleworks of San Antonio, an existing Searchspring investor, will remain an investment partner.