Vista Equity Partners, a global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, has invested in Drift, a provider of B2B conversational commerce.
“Our purpose as a company remains simple and consistent: Build a platform that makes it simpler for customers to buy from you. We have an opportunity to bring learnings from the B2C buyer experience to the enterprise and introduce Conversational Commerce as a new B2B category,” said David Cancel, CEO of Drift. “Given its extensive experience investing in next-generation SaaS companies, we believe Vista is the best partner to help Drift – and our customers – further these efforts. I am excited to work with Vista’s team of investors, operators and technologists who will help us fulfill our ambitious vision and lead the Conversational Commerce category for decades to come.”
“David and I are proud to be one of the only Latino-founded companies to ever achieve over $1 billion valuation – a rare, Latino-founded unicorn,” aid Elias Torres, CTO and cofounder of Drift. “We want to see more of us do the same and we will pave the way for other Latino founders and leaders to achieve success. Our partnership with Vista marks the start of Drift’s second chapter: Maniacally focusing on building an enduring company that accelerates innovation for customers.”
“As a next-generation SaaS company with a strong leadership team, differentiated platform and passionate customer base, Drift is uniquely qualified and well positioned to define and lead this new market of Conversational Commerce,” said Monti Saroya, co-head of the flagship fund and senior managing director at Vista. “It is a privilege to partner with talented founders like David and Elias, and we look forward to supporting them and the entire Drift team to help advance their vision to remove the friction from business buying, and in turn, create tremendous value for customers as Drift’s hypergrowth continues to accelerate.”
Qatalyst Partners served as financial advisor and Latham & Watkins LLP acted as legal counsel to Drift. Kirkland & Ellis LLP served as legal counsel to Vista.