Touted as the largest-ever capital investment in the martech space, the investment comes less than five months after Steve Tzikakis joined the digital experience delivery company as CEO.
Sitecore says it is positioned for growth, achieving record revenues over the last three quarters and cites data from McKinsey, that the industry jumped five years forward in consumer and business digital adoption in a matter of just eight weeks due to the shift in demand for digital experience solutions caused by the pandemic.
“An investment of this magnitude in our industry is unprecedented,” said Steve Tzikakis, CEO, Sitecore.
“As companies and consumers search for more seamless ways to communicate, co-ordinate and collaborate during this momentous period, Sitecore’s investment will supercharge product innovation in order to better enable deeper and more engaging experiences across the entire customer journey.”
“Coates Hire has been on a digital transformation journey leveraging Sitecore’s platform since before the pandemic, but in the past year we’ve seen demand for more flexible and engaging digital experiences skyrocket for the infrastructure, construction and mining sectors,” said Kirsty McKay, group manager - portfolio delivery & digital transformation, Coates Hire.
“Relying on Sitecore’s content to commerce offerings allowed us to succeed in very uncertain times. We can’t wait to see what customer-focused innovations come next from Sitecore.”
Sitecore’s investment plan has been announced as the company celebrates its 20th anniversary this year.