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- OSF Digital
OSF Digital Funding, Investors & Competitors
OSF Digital has raised $166M across 3 funding rounds, most recently a $100M Series C in April 2022.
Last OSF Digital funding round
$100M
Series C · Apr 2022
Cumulative funding OSF Digital raised
$166M
across 3 funding rounds
Key investors in OSF Digital
Salesforce Ventures
Delta-v Capital
Sunstone Partners
David Northington
Gary DiOrio
Jeff Rich
About OSF Digital
OSF Digital is a Montreal-headquartered commerce solutions provider specializing in Salesforce Commerce Cloud implementations. The company delivers omnichannel platforms, site optimizations, and international expansions for global brands facing digital retail challenges. Formerly OSF Global Services, it serves clients like Puma, Sony, and Nestlé through headless commerce architectures and AI-driven personalization. OSF Digital maintains offices across North America, Europe, and Asia, enabling rapid deployment of B2C and B2B storefronts with features like progressive web apps and payment integrations.
Founded
2003
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Services, Subscription
OSF Digital Funding History
OSF Digital has raised a total of $166M across 3 funding rounds.
OSF Digital's first fundraising round was a $23M undisclosed-stage round in May 2019. The most recent completed round was a $100M Series C in April 2022.
OSF Digital funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Apr 2022 | Series C | Sunstone Partners (lead); Salesforce Ventures; Delta-v Capital | $100M | OSF Digital, an award-winning global provider of digital transformation services specializing as a Salesforce Platinum consulting partner in multi-cloud, B2B, and B2C commerce, secured a $100M Series C growth equity investment on April 13, 2022, led by Sunstone Partners with participation from existing investors Delta-v Capital and Salesforce Ventures. The funding aims to accelerate service capability expansion, sales and marketing, industry-focused solutions, aggressive mergers and acquisitions, innovative product development, and AI-enhanced digital transformation solutions. Following record-setting sales in 2021, OSF Digital grew from under 1,000 to over 1,800 employees in a little over a year and completed more than ten acquisitions in the past three years to expand capabilities and geographic reach. Prior to and around the round, OSF Digital pursued inorganic growth through key acquisitions, including Datarati in mid-January 2022 to enhance commerce capabilities and expand into more verticals in Australia, FitForCommerce earlier in January 2022 for end-to-end eCommerce consulting, and a stake in Teia Labs in December 2021 for AI-based productivity tools in code development. The company executed five other M&A transactions in 2021 targeting international digital transformation and Salesforce marketing services firms, positioning it uniquely among independent Salesforce partners amid ecosystem consolidation. This Series C builds on prior rounds, bringing total funding to $166M across three rounds. OSF Digital stands out as the only global Salesforce Partner with expert distinction in four major commerce categories, serving enterprises in retail, consumer goods, automotive, financial services, healthcare, manufacturing, high tech, telecommunications, energy, and utilities. Sunstone Partners, a growth equity firm focused on tech-enabled services and software, emphasized OSF's people-centric approach and potential in digital commerce-led transformations for leading brands. |
| May 2021 | Series B | Delta-v Capital (lead); Salesforce Ventures; David Northington; Gary DiOrio; Jeff Rich | $43M | OSF Digital, a Canadian digital transformation and Salesforce commerce services provider based in Quebec, closed a $43 million Series B funding round on May 12, 2021, led by existing investor Delta-v Capital with participation from Salesforce Ventures and personal investments from board members David Northington, Jeff Rich, and Gary DiOrio. This brought OSF Digital's cumulative funding to $66 million at that time. The company is a global Salesforce Platinum consulting partner specializing in multi-cloud and B2B commerce capabilities. CEO Gerry Szatvanyi stated the company was profitable and had approximately 1,200 employees at the time of the round, with plans to grow headcount to 1,500. The capital was designated to fund planned acquisitions to expand delivery capabilities across geographies including the Americas and Asia Pacific, accelerate technology innovation investments, and support top global talent recruitment. Szatvanyi indicated ambitions to close four acquisitions in May 2021 and up to four additional acquisitions by early 2022, with a strategic focus on deepening the relationship with Salesforce rather than spreading across multiple vendors. The round reflected strong demand for digital transformation services centered on Salesforce, with OSF Digital positioning itself to dominate the market space between smaller boutique firms and global systems integrators like Accenture and Deloitte within two to three years. |
| May 2019 | Undisclosed stage | Delta-v Capital (lead); Salesforce Ventures | $23M | OSF Digital, then known as OSF Commerce, is a Quebec City-based Platinum Salesforce Partner specializing in Salesforce Commerce Cloud, multi-cloud, and B2B commerce solutions for global brands. On May 7, 2019, it closed a $23M equity investment round led by Delta-v Capital with participation from Salesforce Ventures, marking its first outside equity financing after organic growth. The funding aimed to support talent acquisition, AI technology investments, and complementary acquisitions to enhance its leadership in commerce technologies within the Salesforce ecosystem. Delta-v Capital highlighted OSF's unprecedented customer satisfaction, global capabilities, and growth without prior equity, positioning it to deliver multi-cloud integrations for leading brands. Salesforce Ventures' investment reinforced OSF's role in implementing Salesforce across commerce, marketing, sales, and service globally since 2009. CEO Gerry Szatvanyi noted the capital would accelerate expansion of its commerce practice, with more updates to follow. This Series A round preceded subsequent financings: a $43M round in May 2021 led by Delta-v Capital with Salesforce Ventures and individual investors to fund acquisitions, geographic expansion, and innovation; and a $100M Series C in April 2022 led by Sunstone Partners with Delta-v and Salesforce Ventures participation, bringing total funding over $166M. OSF has since grown to over 2,000 employees, completed more than 10 acquisitions, and focused on digital transformation services including CRM, analytics, and cloud applications. |
Who has invested in OSF Digital?
6 investors have backed OSF Digital across its funding rounds, including Salesforce Ventures, Delta-v Capital, Sunstone Partners, David Northington, Gary DiOrio and Jeff Rich.
Lead investors include Sunstone Partners and Delta-v Capital.
OSF Digital Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Participant | May 2019 | ||
| 3 | Lead | May 2019 | ||
| 1 | Lead | Apr 2022 | ||
| 1 | Participant | May 2021 | ||
This data is available for Pro users. Sign up to see all 6 OSF Digital investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by OSF Digital
OSF Digital has acquired 11 companies to date.
Last acquisition by OSF Digital was on January 31st 2023. OSF Digital acquired Original Shift for undisclosed valuation.
Latest Acquisitions by OSF Digital
| Description | Original Shift is a consultancy delivering Salesforce CPQ and Billing implementations for enterprise clients. The firm designs quote-to-cash processes, configures pricing rules, and automates subscription billing. Headquartered in the United States, it serves technology and manufacturing companies with custom integrations to ERP systems like NetSuite. Original Shift conducts post-go-live optimizations and training workshops. | Oegen is a consultancy firm focused on Salesforce CRM implementation for sales teams in the United Kingdom. Services cover configuration, custom app development, data migration, and training for mid-market businesses. Based in London, Oegen delivers cloud-based solutions that automate lead management and pipeline forecasting. | AARIN INC is a Pleasant Hill-headquartered Salesforce consulting partner specializing in Marketing Cloud implementations. The firm deploys Datorama for analytics, Interaction Studio for personalization, and Customer Data Platform integrations. AARIN INC also handles Health Cloud, Sales Cloud, Financial Services Cloud, Service Cloud, and API connections to third-party systems like ERP and CRM tools for enterprise clients nationwide. | Kolekto Tecnologia is a Brazil-based Salesforce consulting partner specializing in B2B commerce and customer relationship management implementations. The firm delivers customized CRM solutions, cloud integrations, and commerce platforms for enterprises seeking to optimize sales and customer engagement processes. | |
| HQ Country | |||||
| HQ City | San Francisco, CA | Nottingham | - | São Paulo | |
| Deal Date | 31 Jan 2023 | 8 Nov 2022 | 12 Jul 2022 | 14 Jun 2022 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all OSF Digital acquisitions and their M&A valuation multiples. Start Free Trial | |||||
OSF Digital Competitors
OSF Digital competitors include listed companies like Shopify and Wix.com, and private ones like THG Ingenuity, Automattic, Houzz and Webflow.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $12B | $1.2B | $165B | 11.3x | ||
| Private | - | - | $8B | - | ||
| Private | $45M | - | $7.5B | - | ||
| Private | - | - | $4B | - | ||
| Private | $100M | - | $4B | 40.0x | ||
| Publicly listed | $2B | ($13M) | $3.3B | 2.0x |
OSF Digital Public Comps
OSF Digital is still privately-owned, but its public comps include Shopify, GoDaddy, Wix.com, Xinhua Winshare, GigaCloud Technology, Infomart, Lightspeed Commerce, Rezolve AI, Shiprocket and Hangzhou Raycloud Tech.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $12B | $1.2B | 13.9x | 11.3x | 132.9x | 61.9x | |||
| $5B | $1.3B | 3.1x | 2.9x | 11.7x | 8.9x | |||
| $2B | ($13M) | 2.2x | 2.0x | (352.9x) | 14.4x | |||
| $1.7B | $248M | 0.4x | 0.4x | 2.9x | 3.4x | |||
| $1.3B | $158M | 1.6x | 1.4x | 12.8x | 10.6x | |||
| $121M | $31M | 9.3x | 8.6x | 35.9x | 31.7x | |||
| $1.2B | ($13M) | 0.7x | 0.7x | (65.4x) | 11.0x | |||
| $47M | ($109M) | 23.3x | 4.0x | (10.0x) | (19.3x) | |||
This data is available for Pro users. Sign up to see all OSF Digital competitors and their valuation data. Start Free Trial | ||||||||
Common questions about OSF Digital
| When was OSF Digital founded? | OSF Digital was founded in 2003. |
| Where is OSF Digital headquartered? | OSF Digital is headquartered in Quebec City, Canada. |
| Is OSF Digital publicly listed? | No, OSF Digital is a private, VC-backed company. |
| How much funding has OSF Digital raised? | OSF Digital has raised $166M across 3 funding rounds. |
| What was OSF Digital's last funding round? | OSF Digital's last funding round was a $100M Series C in April 2022, led by Sunstone Partners. |
| Who are OSF Digital's investors? | OSF Digital's investors include Salesforce Ventures, Delta-v Capital, Sunstone Partners, David Northington, Gary DiOrio and Jeff Rich. |
| Which companies are comparable to OSF Digital? | Companies comparable to OSF Digital include Shopify, THG Ingenuity, Automattic, Houzz, Webflow and Wix.com. |
| How many companies has OSF Digital acquired? | OSF Digital has acquired 11 companies, including Original Shift, Oegen, AARIN INC, Kolekto Tecnologia and Datarati. |
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