San Francisco, CA – May 5, 2020
sticky.io, a leading ecommerce platform provider for order management and recurring billing, announced today that it has received a minority equity investment from Flexpoint Ford, a private equity investment firm that has raised over $4.3 billion in capital and specializes in investments in the financial services and healthcare industries. sticky.io will continue to be led by its long-time CEO Brian Bogosianand the existing management team, who maintain a large ownership stake in the business.
This is the first major institutional investment for sticky.io, which rebranded from LimeLight CRM last month and processed more than $4 billion in client gross merchandise volume in the last 12 months. Proceeds from the financing are being used to invest in sticky.io’s ecommerce platform and expand the leadership, sales and marketing teams to support planned growth.
“Over the past three years, we have invested significantly in building a unique and industry-leading ecommerce and billing platform that enables merchants and partners to support the growing online consumer demand. With ease of deployment and use, flexibility in billing and sophisticated real-time data and analytics, we allow our clients to optimize revenues and profitability,” said Brian Bogosian, sticky.io’s president and CEO, and well-known leader and entrepreneur who has scaled multiple businesses to successful exits.
“Supporting our clients’ success has allowed us to grow revenue 5x over the last four years. Our growth and profitability presented a multitude of attractive options, ultimately, we decided to continue our current path and bring on a like-minded financial partner to support our future vision. We will continue to innovate and lead the market to support direct-to-consumer brands — both incumbent brands as well as disruptive, digitally-native, vertical brands — that require a broad and sophisticated platform to execute their online commerce aspirations and business goals.”
Steve Begleiter, Managing Director at Flexpoint Ford, commented, “We invest in capable people with a record of success and businesses with a significant market opportunity – and with sticky.io we’ve found both. Brian and the rest of the sticky.io team have developed a powerful and scalable software platform that serves an exciting part of the direct-to-consumer ecommerce industry. We look forward to partnering with the company to assist as they accelerate growth and build a leading global brand.”
sticky.io also announced that Mark Hipp will join its board of directors. Hipp brings many years of software executive experience to sticky.io, including senior roles at Hewlett- Packard Company. He currently serves on the board of directors of Carter’s, Digital Rooms LLC, Purchasing Power and CSS Corporation, and previously served on the board of Radial, the largest ecommerce outsourcing company in North America.
sticky.io was founded as LimeLight in 2008 and is headquartered in San Francisco with substantial operations in Tampa, Florida. Its ecommerce order management and recurring billing platform is built for speed, scale, and lasting connections between brands and people to reduce acquisition costs, increase retention, activate upsell/crosssell opportunities and maximize customer lifetime value.
First Analysis Securities Corporation served as financial advisor and PremierCounsel and McDermott Will & Emery served as legal advisors to sticky.io in connection with the transaction. Kirkland & Ellis served as legal advisor to Flexpoint in connection with the transaction. Comvest Credit Partners provided a senior term loan and made an equity co-investment alongside Flexpoint in connection with the transaction.
Headquartered in San Francisco, sticky.io is a leading ecommerce order management and billing platform that helps brands build lasting bonds with customers. Consumers today expect authentic and personalized experiences when they interact with brands. Being able to deliver the right message and offer at the right time can mean the difference between loyalty and churn. With 450+ partner integrations and over 10,000 merchant customers processing more than $4 billion in transactions annually, sticky.io is a fully integrated solution built for direct-to-consumer and subscription commerce. To learn more, visit www.sticky.io.