Quebec City-based OSF Digital, a commerce and digital transformation services provider, has secured $100 million in Series C financing. The round was led by Sunstone Partners, with participation from existing investors Delta-v Capital and Salesforce Ventures. OSF Digital will use the funds raise to grow service capability, sales and marketing and sector-focused solutions as well as to pursue acquisitions.
QUEBEC CITY, April 13, 2022 /PRNewswire/ – OSF Digital, an award-winning provider of digital transformation services to companies worldwide, announced today a USD 100M Series C investment led by Sunstone Partners with participation from existing investors Delta-v Capital and Salesforce Ventures. OSF Digital is a rapidly expanding global independent commerce and digital transformation partner and the only Salesforce Partner globally to earn expert distinction in four major commerce categories. OSF Digital is raising this funding following record-setting sales in 2021 and growing from less than 1,000 employees to more than 1,800 employees in a little over a year. OSF Digital has also completed over ten acquisitions over the past three years to expand the company’s capabilities and geographic reach.
OSF Digital will utilize this funding to accelerate service capability expansion, sales and marketing, industry-focused solutions, and aggressive mergers and acquisitions. In addition, OSF will focus on innovative product development and providing leading digital transformation solutions to its customer base at a greater velocity using AI and a tech-enabled team of consultants.
“This significant growth investment led by Sunstone Partners will help bolster OSF’s leading position within the global digital commerce market,” said Gerard (Gerry) Szatvanyi, CEO of OSF Digital. “Sunstone strongly believes that a company’s people are the key to success—and they are committed to growing and developing people as they grow a company, which is aligned with OSF’s values.”
Sunstone Partners is a growth equity & buyout firm that invests in high-growth, tech-enabled services and software companies, including within the cloud services and digital transformation market. The firm helps dynamic, founder-run organizations maximize success to become industry-leading businesses, by implementing operational excellence and executing organic and inorganic growth opportunities. The firm has a long track record of working successfully with founder-led companies, having been named as part of Inc. Magazine’s “Founder Friendly Investors” list.
“We believe in OSF’s mission of digital commerce-led transformations for some of the leading brands across the world and are very excited to partner with OSF in their next phase of growth,” said Arneek Multani, Managing Director, Sunstone Partners.
OSF Digital, an award-winning Salesforce Partner for over ten years, is committed to driving digital transformation for its customers. The firm’s deep industry expertise enables it to identify a client’s unique requirements and launch innovative solutions dedicated to specific markets and industry verticals. Prior to this round of funding, OSF Digital investors Salesforce Ventures and Delta-v Capital’s funding helped the firm build its expertise and successfully grow on a global scale.
“I am grateful for the continued support of Delta-v and Salesforce Ventures. This investment represents a great opportunity for our employees, customers, and company,” said Gerry. “We are at a very exciting time in OSF’s history. We look forward to expanding our service offerings, expanding into additional geographies, and strategically acquiring more companies.”
Rand Lewis, Managing Partner with Delta-v Capital and OSF Digital Board member, added: “Delta-v Capital is thrilled to be on this journey with OSF Digital. We remain impressed by OSF Digital’s industry-specific packaged solutions. Further, this capital will enable OSF’s innovation advancements in proprietary AI-enabled productivity tools. These tools deliver high-quality software for clients at lower cost and with faster development times.”
“We are pleased to be part of OSF Digital’s growth as they innovate on B2B and B2C multi-cloud digital transformation,” said Robert DeSisto, SVP, Business Strategy and Growth, Digital Customer Engagement at Salesforce. “We believe OSF is quickly becoming a leader for companies seeking to transform their business digitally.”
OSF Digital has over 1,800 employees and 49 offices worldwide. Its customers include some of the world’s biggest brands: L’Oréal, Burton Snowboards, Ubisoft, e.l.f. Cosmetics, Kal Tire, Wharton University of Pennsylvania, Lush Handmade Cosmetics, Domaine Chandon, Urban Barn, etc. OSF Digital is also the recipient of several Salesforce awards, including the 2021 Partner Innovation Award and the 2021 Sales Excellence Partner Award.
About OSF Digital
OSF Digital is a global commerce and digital transformation leader with expertise in connecting technology and strategy to drive business goals. With expert status in B2C and B2B commerce and several Salesforce awards for multi-cloud innovation, OSF Digital seamlessly guides enterprises through their entire digital transformation journey. With customers in various industries around the globe, OSF Digital provides personal attention and the highest level of connection with a local presence throughout North America, Latin America, APAC, and EMEA. For more information about OSF Digital, visit: osf.digital.