Leading software marketplace G2 has announced it has raised $157 million in Series D funding in a move that accelerates the company’s growth.
Spearheaded by Permira’s growth fund, the Series D financing (valuation $1.1 billion) includes investors such as HubSpot Ventures and Salesforce Ventures that help funding reach $257 million.
“The G2 platform serves as an objective, real-time alternative to analyst reports, and with this investment, will be well-positioned to continue to grow and support more customers around the world,” said Tom Eggemeier, Partner and Head of the Menlo Park office at Permira. “We are thrilled to be backing G2 and look forward to leveraging our extensive experience in backing and growing enterprise software and best-in-class technology platforms to further its market leading position.”
G2 is one of the largest software marketplace platforms in the world, hosting nearly 60 million annual software buyers. Over 100,000 software and other services businesses from over 2,000 strategic categories use the platform.
G2 also has gained over 1.3 million user reviews and is used by close to 60 percent of Fortune Cloud 100 companies. Notable customers include Salesforce, Zoom, Adobe, and more.
In the past year, the company saw an increase of 95 percent in their organic traffic to the website, leading to 700 new customers.
“Software spending will top $4 trillion this year, and is growing quickly with the need for digital transformation. Customers expect reliable, trusted reviews for everything they shop for and this is increasingly true for B2B software purchases where complexity is at an all-time high and trust is low,” commented G2 CEO and Co-Founder Godard Abel.
“This funding will be a catalyst for G2 to expand our community and products, grow our team, and continue investing in our vision to be the place for software online.”