Bloomreach entered into a $30 million, three-year credit facility with J.P. Morgan, further strengthening the company’s financial position as it continues to scale its commerce experience solutions to businesses worldwide. The $30 million base facility includes an accordion that may permit up to $130 million in borrowing, and follows a $175 million equity investment announced by the company in February 2022.
“This credit facility, from a leading global financial services firm, not only provides an additional opportunity to accelerate our journey toward building the future of commerce experiences, but also further validates the strategy we’ve put in place to get there,” Raj De Datta, co-founder and CEO of Bloomreach, said. “Coming off of our $175 million funding round earlier this year, we believe Bloomreach is in the strongest financial position to deliver what businesses today need most — magical digital experiences that drive measurable results.”
“We’re delighted to support Bloomreach’s strategic growth as it continues to expand its digital solutions for businesses across the globe,” said Adam Prescott, technology and disruptive commerce relationship executive within J.P. Morgan’s middle market banking and specialized industries business, said. “J.P. Morgan’s deep industry expertise, world-class treasury platform and global banking capabilities mean we are well positioned to serve Bloomreach’s needs as a rapidly growing, global business and demonstrates our continued commitment to the Innovation Economy.”
