L Capital Exits Portfolio Company Syndigo to Summit Partners and The Jordan Company
SAN FRANCSICO, CA, DECEMBER 16, 2020 – L Capital Fund I portfolio company Syndigo (fka “Gladson”), a leading provider of a software-as-a-service for product information management and syndication, has announced a new round of growth equity investment led by Summit Partners (“Summit”), a global alternative investment firm. Existing investor The Jordan Company (“TJC”), also participated in the round. This new investment will support Syndigo’s continued growth and global expansion, allowing the company to better serve its network of retailer, manufacturer and distributor clients.
L Capital originally invested in Syndigo alongside Wicks Group in June of 2017. In parallel to this platform investment, L Capital’s affiliated search firm, Renovata, placed Paul Salay as Chief Executive Officer of Syndigo and Sagit Halpern as Chief Financial Officer. After several successful add-on acquisitions, Syndigo was subsequently recapitalized by TJC in October of 2018.
“Syndigo’s vision is simple: to enable commerce globally. Brands and retailers are experiencing unprecedented demand for product information and transparency — and our clients who use Enhanced Content on their product pages experienced more than $1 billion in incremental cart value over this year’s Cyber Weekend,” said Paul Salay, CEO of Syndigo. “We are excited to bring together the extensive technology and software experience of our new partners at Summit with The Jordan Company’s experience with the Syndigo team. We are confident that this new partnership will accelerate Syndigo’s growth and our goal to enable commerce in even more innovative ways on a global scale.”
Summit Partners has a long history of investing in and supporting the growth of leading software and consumer businesses, including backing more than 30 companies at the intersection of commerce and technology.
“We believe Syndigo offers one of the most advanced and scalable solutions in the industry,” said Peter Rottier, a Managing Director at Summit Partners, who has joined the Syndigo Board of Directors. “The Company’s software offers an end-to-end solution designed to support the delivery of complete and verified product content and address the needs of brands, retailers and the ever-increasing expectations of the consumers that they serve. We are thrilled to collaborate with the Syndigo management team and The Jordan Company in this next phase of growth.”
“Syndigo has experienced significant growth since our initial investment by demonstrating a consistent commitment to its clients through investment, innovation and support,” said Eion Hu, Partner of The Jordan Company. “The addition of Summit Partners provides Syndigo with tremendous perspective and resources to drive even greater client productivity and growth. We look forward to continuing our partnership with Syndigo and its customers.”
Syndigo enables commerce by supporting the efficient transfer of information between brands and their customers. Syndigo provides descriptive product and nutritional information, images and other digital media, powered by deep analytics to empower engaging brand experiences online and in store. Through Syndigo’s integrated platform, Content Experience Hub, clients can publish, manage, syndicate and audit their product content across the largest trading network of brands and recipients in the world. Syndigo serves more than 12,000 brands and 1,500 retailers globally in many important consumer industries including grocery, foodservice, hardlines, home improvement / DIY, pet, health and beauty, automotive, apparel, and healthcare products. www.syndigo.com ‘
About L Capital
L Capital is a specialty private equity firm focused on the technology, business services, consumer and industrial sectors. L Capital makes equity co-investments alongside leading buyout and growth equity funds and provides advisory services including diligence support and deal origination. The affiliation with Renovata & Company provides access to a global talent network, proprietary deal flow, and relationships with 50 of the top 100 private equity firms ranked by assets under management.
L Capital is led by its co-founder and managing partner, Bart Foster. Bart is an experienced private equity investor who has made over $360M of private equity investments in the technology sector. www.lcapitalmgmt.com