OSF Digital, Backed By Salesforce Investment, Seeks Acquisitions
Digital transformation strategy company and Salesforce cloud consulting partner OSF Digital has received $43 million in funding, and is now seeking to make acquisitions.
Delta-v Capital led the funding, with participation from Salesforce Ventures and personal investments from OSF Digital board chairman David Northington, board director Jeff Rich and board advisor Gary DiOrio.
Armed with the war chest, OSF Digital is now seeking to make acquisitions, the company says.
OSF specializes in e-commerce applications. The company works with customers across North America, Europe and Asia. Key OSF clientele includes L’Oréal USA, Burton, Ubisoft, Bouclair, e.l.f. Cosmetics, Geox, Kal Tire, Markwins Beauty, Stonewall Kitchen, Lush Handmade Cosmetics, Domaine Chandon and Urban Barn.
OSF has been a Salesforce partner for over 10 years and has earned a number of awards in that time.
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OSF Digital’s Growth Strategy
Rand Lewis, managing partner and co-founder of Delta-v Capital, commented on the news:
“Since 2019, OSF Digital has continued to strengthen its Salesforce Commerce Cloud expertise. This new round will support OSF’s planned acquisitions to expand its delivery capabilities across new geographies and products. Further, this additional capital will help OSF accelerate investments in technology innovation and top global talent.”
Gerard Szatvanyi, CEO of OSF Digital, added:
“By securing the highest ranking from Salesforce as a Navigator Expert in four commerce categories, along with funding from both Delta-v and Salesforce Ventures, this round of funding shows strong confidence in OSF and will advance our efforts toward being a leading independent digital transformation company globally. With this investment, we will be able to accelerate our growth and expertise through our vigorous M&A strategy, with exciting company news to be announced in the coming months.”
Delta-v Capital was founded in 2009 by Rand Lewis and Dave Schaller. Since then, the firm has invested in over 35 technology businesses including Cloud Sherpas, a Salesforce partner acquired by Accenture in 2015.
The firm has over $700 million in assets under management and sets investment targets between $3 and $30 million in various technology sectors, including enterprise software, information services, cybersecurity, data analytics, cloud, and communications infrastructure.
The firm has offices in Boulder, Colorado and Dallas, Texas.