Zennify, a consulting firm and Salesforce partner specializing in financial services, has raised $7.5 million in funding from Tercera -- an investment firm focused on cloud professional services.
Zennify says it will use the funds to:
- Enhance its data, analytics, and integration services;
- deliver new FinTech solutions via its employee-driven ZennLab incubator;
- expand the brand's reach across North and Latin America; and
- double down on cultivating talent.
Zennify has more than 200 employees who carry more than 620 Salesforce certifications. Company revenues are expected to grow 50 percent in fiscal year 2022, after nearly 30 percent growth in 2021. Actual revenue dollar figures were not disclosed. Key partners include cloud banking specialist nCino, and talent-oriented organizations such as Grow with Google, Code Black Indy, Merit America, and the Salesforce Talent Alliance.
Zennify Funding: Executive Perspectives
In a prepared statement about the funding, Zennify CEO Manvir Sandhu said:
“This new investment from Tercera, alongside the continued demand for our services, validates the impactful work we’re delivering and highlights the opportunity ahead of us. Our consultants are obsessed with helping clients modernize their architecture and drive revenue with platforms like Salesforce and nCino, but are equally passionate about the communities in which we work. This infusion of capital will help us expand our reach and further develop the talent and capabilities that our customers, partners and world need.”
Added Tercera CEO Chris Barbin:
“The financial services industry is undergoing massive change and is spending enormous amounts on IT and cloud adoption to stay relevant in a digital-first world. Zennify’s outcomes and capabilities in financial services drove Tercera’s initial interest in the company, but what sealed the deal was Manvir and the team’s commitment to culture, cultivating talent and embracing diversity. These are critical traits for any successful third wave consultancy, and the Zennify team set a high bar.”
Additional Investments to Note
Tercera has been investing in multiple cloud-focused consulting and software companies. Another example investment involves Terazo, a combination cloud software developer and MSP that raised $10 million+ from Tercera and Twilio in May 2021.
Meanwhile, investor activity in the Salesforce partner ecosystem remains strong. Here's a list of buyers and investors targeting Salesforce partners.
