SALSIFY ANNOUNCES $8 MILLION SERIES A

We’re taking a very different, decentralized approach that makes managing product content exponentially easier and faster and, for the first time, collaborative across the supply chain, so that anyone who sells online can benefit

Boston, MA – September 12, 2013 – Salsify, Inc., the company developing a first-of-itskind
global network for product content management, today announced that it has
received $8 million in Series A funding from Matrix Partners and North Bridge Venture
Partners.

Salsify was created to give all businesses the ability to create, maintain and distribute
consistent product content necessary for e-commerce such as images, specifications,
attributes, and relationships. Using a cloud-based infrastructure, Salsify’s global network
enables the people closest to product content – often outside of IT – to keep it current and
instantly share updates across the supply chain. Critically, these users can create
customized content streams for every downstream retailer, including automatically
resized images and customized sets of required properties. By contrast, most existing
solutions adhere to a centralized command-and-control system where it becomes difficult
for any one team to make changes to the content for which they are responsible, and even
harder to have different versions of content for conflicting use cases.

“Companies with big enough budgets to even start thinking about addressing product
content management typically spend six-to-seven figures per year on an enterprise
software solution that cannot keep up with the pace of change in the marketplace,” said
Jason Purcell, co-founder and CEO of Salsify. “The vast majority of companies either
can’t afford or do not have the IT capacity to implement these traditional enterprise
solutions, so they’re left cobbling together data from PDFs, spreadsheets, and email for
every single product they manufacture or sell. We’re taking a very different,
decentralized approach that makes managing product content exponentially easier and
faster and, for the first time, collaborative across the supply chain, so that anyone who
sells online can benefit.”

“The product information bottleneck in e-commerce today is a big and growing
problem,” said Michael Skok, partner at North Bridge Venture Partners and Salsify board
member. “In fact year-on-year online spending grew at over 4x traditional retail sales in
Q4 - the fastest since over five years ago according to the Department of Commerce. But
without the right product content being compiled with all the rich media required by
buyers, then distributed through the now multiple channels of B2B or B2C e-commerce
and formatted for all the forms of delivery from web to mobile and beyond, commerce
simply grinds to a halt. And keeping it up-to-date and available on demand is a
distributed problem ideally suited to the cloud solution Salsify is delivering. But best of
all this team is uniquely qualified to address this from their time at companies like
Endeca and they have a vision to build an industry leading company that we’re honored
to fund.”

“The Salsify team knows this space extremely well,” said David Skok, general partner at
Matrix Partners and Salsify board member. “Their ability to use the cloud and apply a
SaaS model to something as crucial for businesses as product content management is
exciting because it has the capacity to transform e-commerce on the backend. We believe
that transformation comes from the ability for manufacturers, distributors, and ecommerce
vendors to collaborate seamlessly on product information. Salsify is a great
example of where SaaS can provide automated systems across different companies.”
Salsify was founded by a team from IBM and Endeca with deep experience in ecommerce
and the semantic web, where they saw firsthand the importance of accurate
product content to commerce initiatives. At the same time, they recognized how the rise
of cloud computing, the consumerization of IT, and decentralized collaboration
popularized by services like GitHub and Yammer could fundamentally change product
content management.

Salsify has already attracted a number of customers across diverse vertical markets, such
as cosmetics, medical devices, and consumer electronics. The company continues to
acquire customers every month, and the new funds will enable Salsify to grow its team to
meet increasing demand for its services.

For more information on Salsify, please visit www.salsify.com. To gain additional
insight into the investment and the story of how it was made please see Michael Skok’s
blog post.

About Salsify:
Salsify provides a cloud-based product content management solution that makes it easy
for manufacturers, distributors, and retailers to manage and exchange high-quality
content that drives online results. The Boston-based company was founded in late 2012
by a team with decades of experience powering the top e-commerce sites in the world. To
learn more, please visit www.salsify.com

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