{"id":5390,"date":"2022-10-04T10:22:00","date_gmt":"2022-10-04T10:22:00","guid":{"rendered":"https:\/\/www.bloomreach.com\/bloomreach-secures-credit-facility-with-j-p-morgan"},"modified":"2024-09-12T12:19:00","modified_gmt":"2024-09-12T12:19:00","slug":"bloomreach-secures-credit-facility-with-j-p-morgan","status":"publish","type":"post","link":"\/en\/news\/2022\/bloomreach-secures-credit-facility-with-j-p-morgan\/","title":{"rendered":"Bloomreach Secures Credit Facility with J.P. Morgan"},"content":{"rendered":"

With a $30 Million Facility and an Accordion up to $130 Million, the Three-Year Agreement Offers Expanded Opportunities for Bloomreach to Scale its Solutions and Drive Innovation for the Ecommerce Sector<\/em><\/p>\n

MOUNTAIN VIEW, CA, October 4, 2022 \u2013 <\/strong>Bloomreach<\/a>, the world\u2019s #1 Commerce Experience Cloud, today announced it has entered into a $30 million, three-year credit facility with J.P. Morgan, further strengthening the company\u2019s financial position as it continues to scale its commerce experience solutions to businesses worldwide. The $30 million base facility includes an accordion that may permit up to $130 million in borrowing, and follows a $175 million equity investment announced<\/a> by the company in February 2022. <\/p>\n

\u201cThis credit facility, from a leading global financial services firm, not only provides an additional opportunity to accelerate our journey toward building the future of commerce experiences, but also further validates the strategy we\u2019ve put in place to get there,\u201d said Raj De Datta, co-founder and CEO, Bloomreach. \u201cComing off of our $175 million funding round earlier this year, we believe Bloomreach is in the strongest financial position to deliver what businesses today need most \u2014 magical digital experiences that drive measurable results.\u201d<\/p>\n

\u201cWe\u2019re delighted to support Bloomreach\u2019s strategic growth as it continues to expand its digital solutions for businesses across the globe,\u201d said Adam Prescott, Technology & Disruptive Commerce Relationship Executive within J.P. Morgan\u2019s Middle Market Banking & Specialized Industries business. \u201cJ.P. Morgan\u2019s deep industry expertise, world-class treasury platform and global banking capabilities mean we are well positioned to serve Bloomreach\u2019s needs as a rapidly growing, global business, and demonstrates our continued commitment to the Innovation Economy.\u201d<\/p>\n

This line of credit follows a quarter of significant achievements and momentum for Bloomreach. In addition to driving continued success for its customers \u2014 including notable results for Benefit Cosmetics<\/a> and boohooMAN<\/a> \u2014 the company was recently named to the 2022 Inc. 5000<\/a> Fastest Growing Private Companies in America list, received the SaaS Award for Best SaaS Product for Ecommerce and E-Shops, and was also certified as a Great Place to Work in the U.S. <\/p>\n

\u201cThese past two years have been filled with remarkable growth for Bloomreach and our customers,\u201d De Datta continued. \u201cEven so, we continue to believe that the best is yet to come. We\u2019re incredibly energized by the opportunities ahead.\u201d  <\/p>\n

###<\/p>\n

About Bloomreach<\/strong>
\nBloomreach is the world\u2019s #1 Commerce Experience Cloud, empowering brands to deliver customer journeys so personalized, they feel like magic. It offers a suite of products that drive true personalization and digital commerce growth, including: Discovery<\/strong>, offering AI-driven search and merchandising; Content<\/strong>, offering a headless CMS; and Engagement<\/strong>, offering a leading CDP and marketing automation solutions. Together, these solutions combine the power of unified customer and product data with the speed and scale of AI-optimization, enabling revenue-driving digital commerce experiences that convert on any channel and every journey. Bloomreach serves over 850 global brands including Albertsons, Bosch, Puma, FC Bayern M\u00fcnchen, and Marks & Spencer. For more information, visit Bloomreach.com<\/a>.<\/p>\n

Media Contact:<\/strong>
\nMichelle DeMaio
\nBloomreach
\nCorporate Communications
\nmichelle.demaio@bloomreach.com<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"

With a $30 Million Facility and an Accordion up to $130 Million, the Three-Year Agreement Offers Expanded Opportunities for Bloomreach to Scale its Solutions and Drive Innovation for the Ecommerce Sector MOUNTAIN VIEW, CA, October 4, 2022 \u2013 Bloomreach, the world\u2019s #1 Commerce Experience Cloud, today announced it has entered into a $30 million, three-year credit […]<\/p>\n","protected":false},"author":330,"featured_media":5231,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"tags":[],"class_list":["post-5390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bloomreach.com\/en\/wp-json\/wp\/v2\/posts\/5390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloomreach.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloomreach.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloomreach.com\/en\/wp-json\/wp\/v2\/users\/330"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloomreach.com\/en\/wp-json\/wp\/v2\/comments?post=5390"}],"version-history":[{"count":1,"href":"https:\/\/www.bloomreach.com\/en\/wp-json\/wp\/v2\/posts\/5390\/revisions"}],"predecessor-version":[{"id":49747,"href":"https:\/\/www.bloomreach.com\/en\/wp-json\/wp\/v2\/posts\/5390\/revisions\/49747"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bloomreach.com\/en\/wp-json\/wp\/v2\/media\/5231"}],"wp:attachment":[{"href":"https:\/\/www.bloomreach.com\/en\/wp-json\/wp\/v2\/media?parent=5390"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloomreach.com\/en\/wp-json\/wp\/v2\/tags?post=5390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}