G2 turns unicorn, raising $157M in Series D from Permira at $1.1B valuation

SaaS News -G2-raises-$157M(source: SaaS Industry)
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G2 raises $157M in Series D funding and bags the unicorn tag. The round has valued the startup at $1.1B

Chicago-based G2, a marketplace for business organizations to buy, research and manage their software, has attained unicorn status, raising $157M in a Series D funding round led by Permira. The valuation of the company now stands at $1.1 billion. 

Existing investors- Accel, Emergence, and Institutional Venture Partners; new and existing strategic investors – HubSpot Ventures and Salesforce Ventures, LinkedIn, Auren Hoffman, founder of LiveRamp and SafeGraph, and Thomas D. Lehrman, managing partner of Teamworthy Ventures- had participated in the funding.

The total funding raised by G2 now stands at $257 million. Godard Abel, co-founder and CEO of G2, stated that software spending, driven by growing digital transformation, will touch $4 trillion this year. Stressing that customers today expect reliable and trusted reviews for services and products they shop for, he added that the complexity remains high, especially in B2B software purchases, with low trust. 

This funding will be a catalyst for G2 to expand our community and products, grow our team, and continue investing in our vision to be the place for software online

Godard Abel, co-founder and CEO of G2

Commenting on the investment, Tom Eggemeier, partner at Permira, stated that the G2 platform serves as an objective, real-time alternative to analyst reports. He added that the proceeds from the funding would help the company grow and support more customers across the globe.

We are thrilled to be backing G2 and look forward to leveraging our extensive experience in backing and growing enterprise software and best-in-class technology platforms to further its market-leading position

Tom Eggemeier, partner at Permira

Founded in 2012, G2 offers a definitive destination for companies in discovering, reviewing, and managing the technology that businesses need to reach their potential. G2’s marketing solutions help companies increase revenue, manage and grow their reputation, and gain valuable customer insights. The company revealed that it has added 700 customers for its marketing solutions in the last twelve months and witnessed a 95 percent increase in organic traffic from software buyers.

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