TCV, which is making a large minority investment, intends to support the company in its next phase of development.
In conjunction with the transaction investment, David Yuan, TCV General Partner, will join Sitecore’s board of directors, along with Bob Burke, former CEO of Art Technology Group.
Established in 2001 by six founders, including CEO Michael Seifert, the company builds business application software which consists of platforms for Web Content Management and Customer Engagement, which includes website solutions and integrated automation of marketing tasks and e-commerce. It covers more than 50 countries worldwide through its own companies and more than 700 certified partners.
It serves large corporations, governments and organizations that use innovative technology to interact with customers, citizens and members.