Bynder, a global player in Digital Asset Management (DAM), received the much-needed boost for its operations with new investments coming from Thomas H. Lee Partners, L.P. (THL).
The company recently announced that it received a majority investment from (THL), a premier private equity firm investing in growth companies.
With the partnership, Bynder hopes to accelerate its ability to help brands overcome the complexity of proliferating content while enabling the delivery of exceptional content experiences and unlocking revenue growth.
As part of the agreement, THL will also acquire Insight Partners’ stake in Bynder.
The transaction is expected to close in the early part of 2023.
THL’s investment on Bynder will be made through both its flagship Fund IX and the THL Automation Fund, the private equity industry’s first fund dedicated to automation-related businesses.
Arma Partners and Lincoln International will act as the financial advisors fo Bynder with William Blair & Company also acting as the financial advisor for THL.
Bynder that is based in Amsterdam also has major office hubs in the United States, Spain, UK, Australia, and UAE.
Its powerful, intuitive, and deeply integrated DAM platform unifies and transforms the creation, management, and distribution of marketing assets.
Bynder’s scalable, cloud-native platform has also helped thousands of companies, including Spotify, Puma, Five Guys and Icelandair, power better digital customer experiences.
Cliff Longley and Jeff Swenson, managing directors at THL said that Bynder is the pure-play market leader in a category that has become foundational for executing digital marketing at scale.
“Its technology helps brands of all sizes deepen relationships with their customers and drive revenue growth,” they said.
Bynder’s CEO Bob Hickey said DAM is mission-critical to brands that are looking to thrive in the digital economy. And their platform has been proven to help companies gain efficiency, increase speed of execution, maximize their marketing and digital investments, and ultimately gain a competitive advantage.
Hickey said the investment from THL will further accelerate their growth through product innovation and continue investment in their partner ecosystem, thus enabling them to scale with their customers and help even more brands deliver exceptional content experiences.
The partnership builds on THL’s investment franchise in SaaS products that enable sales, marketing, and commerce.
THL also invested in Bazaarvoice, a full-funnel shopper engagement platform that powers the collection, curation, and display of user-generated content like ratings and reviews, photos, and videos; and inriver, a leading provider of Product Information Management (PIM) software.
Bynder founder Chris Hall said that the company which he founded in 2013 has grown from a bespoke solution which they delivered to fulfill the need of a single customer 10 years ago, to a $100 million ARR business employing 500 Byndies. It is also serving 1.7 million users from nearly 4,000 brands across the world.