Sees Continued Growth in Commerce And Strong Start to Q4 Following Spinoff
DALLAS, Nov. 15, 2022 — Kibo, a market leader in composable commerce products, reported a strong start to Q4 following their recent spinoff of their personalization business and announced that proceeds from the spinoff will be used to reinvest into the commerce business to continue to scale Kibo’s growth.
“Our continued momentum and ability to invest heavily in our core area of focus during a rather critical time in our economy speaks volumes to the work we’ve been doing here,” said Ram Venkataraman, CEO of Kibo. “We plan to double down on our efforts with our go-to-market strategy and continue our investments in our infrastructure to better support our customers’ digital transformation journeys.”
Kibo will focus its resources solely on its core commerce solutions. As a fully modular, API-first platform, this places Kibo in an even stronger position to serve B2C, B2B and D2C customers with innovative solutions.
“Merchants want the ability to compose the ideal commerce and marketing tech stack that is right for their business,” Venkataraman said, regarding the spinoff. “The transaction opened the door for Kibo to expand our partnership opportunities with additional personalization and digital commerce leaders that complement our composable products.”
Through products like distributed order management, headless commerce and subscription commerce, Kibo focuses on the capabilities retailers and brands need to build, maintain and evolve commerce experiences. The modern nature of the full product offering from Kibo allows companies to move faster than their competition and further drive conversions and customer loyalty.
“When an organization already has market momentum like Kibo, substantial capital infusions like this improve the capacity to leverage that momentum, accelerate sales and marketing efforts and quickly reach the next level of growth,” said David Bonnette, managing director at Vista Equity Partners and a Kibo board member. “In SaaS, operating debt-free during our current economic environment coupled with added investment and focus in areas like go-to-market can be a game changer.”
Kibo was recently named as a Visionary vendor and ranked first for B2C Digital Commerce in the August 2022 Gartner Critical Capabilities for Digital Commerce Platforms. As part of its evaluation, Gartner highlighted Kibo’s Order Management System features (e.g., ship to home, split packing slips, inventory segmentation), merchandising tools and promotion functionality.
Kibo was also recently named as the only Leader in The Forrester Wave™: B2C Commerce Solutions, Q2 2022 by global research and advisory firm Forrester Research. According to Forrester, “Kibo is a best fit for digital businesses that prioritize a preintegrated platform with shared services across functional areas.”
For more information about Kibo Commerce, please visit kibocommerce.com.
ABOUT KIBO
Built for technologists and loved by marketers alike, the Kibo Commerce Platform is a catalyst for modern commerce transformation. Kibo is a SaaS-based collection of commerce products that include eCommerce, Order Management and end-to-end Subscriptions capabilities built to serve the unique needs of B2C, B2B and D2C organizations. Kibo products are built on a unified technology platform that provides users a shared admin and a single source of truth for the most important commerce data to deliver truly unified customer experiences across all channels. Kibo is designed for the modern merchant who desires to achieve rapid revenue growth through scalable, future-proof technology.
Global clients like Zwilling, ACE Hardware, Athletic Greens and Jelly Belly trust Kibo’s API-first, microservices-based architecture to deliver a wide range of commerce strategies such as headless and composable commerce, meeting high growth goals and delivering on customer expectations at a manageable cost of ownership. Learn more at www.kibocommerce.com.
Media Contact
Jenny Bradford
Ketner Group Communications (for Kibo)
[email protected]