Agreement Set to Maximize Leading Digital Commerce Specialist’s Growth
Global digital commerce specialist Astound Commerce announced today that it has reached an agreement with Los Angeles, California–based RLH Equity Partners to make a major investment in its business, with additional participation from Salesforce’s corporate investment group, Salesforce Ventures. The RLH–Astound transaction became effective on Thursday, May 6, and comes after several months of in-depth conversations between the Astound and RLH leadership teams.
The renowned private equity firm was drawn to the remarkable work put in motion by Astound founders Igor Gorin, Ilya Vinogradsky, and Roman Martynenko, as well as the overall strength of Astound’s management team and business.
Astound Commerce has a 20-year history of delivering exceptional digital commerce experiences for global brands such as Puma, L’Oréal, Under Armour, FLOR, TOMS, and Crocs. Now, with this strategic new investment, Astound is poised to accelerate expansion of its capabilities and footprint into new commercial and technology markets, realizing its mission to lead the digital commerce landscape and maximize the value of every digital commerce touchpoint.
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RLH has a long history of helping promising businesses capitalize on their potential, offering seasoned guidance as their team focuses on strengthening existing infrastructure and supporting new initiatives. In the case of Astound Commerce, chief among these initiatives is the company’s North Star plan, launched in the beginning of 2020 with the aim of making Astound the global market leader in digital commerce. The selection of Michael Kahn (MK) as Global CEO to lead the company was the first step in that plan, followed by the company’s search for a financial partner to help it grow. Other RLH investments include Salesforce cloud consultancy Bluewolf (since acquired by IBM), Salesforce B2B agency Shift 7 Digital, financial and technology consultancy CrossCountry Consulting, and pharmaceutical industry consulting firm Clearview Healthcare Partners.
“As we came to recognize RLH’s people-focused philosophy and its deep commitment to preserving the culture and operations of the businesses it supports, prioritizing talent acquisition and retention, the choice was clear,” said MK. “For the past three decades, RLH has invested in technology business services, healthcare, and government services, in particular seeking out superlative leadership teams with a clear plan for exponential growth,” he continued.
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“While the past year has been tumultuous for all, at Astound Commerce we have continued to push boundaries for our clients and strive for continued growth and evolution. This next step with RLH and Salesforce Ventures signifies not just a key step in our expansion, but also our desire to truly cement ourselves as a global leader in the space,” said Igor Gorin, Founder and CEO of Astound Commerce North America.
For Astound’s clients, partners, and team, this development will allow the company to continue its high-caliber work as it grows, and sustain its unwavering commitment to delivering maximum value every single day.
Piper Sandler & Co. acted as exclusive financial advisor to Astound Commerce on the transaction, and Latham & Watkins LLP served as legal counsel to Astound Commerce. Vinson & Elkins LLP served as legal counsel to RLH Equity.
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