Unaric Emerges with $35 Million Funding to Acquire and Consolidate Salesforce-Ecosystem Startups
Unaric, a newly revealed company, has secured $35 million in funding with a mission to acquire and consolidate startups within the Salesforce ecosystem. The company aims to bring independent Salesforce-focused software as a service (SaaS) companies together in order to capture a larger portion of the Salesforce market, which has grown exponentially over the years.
Companies such as Copado, OwnBackup, and Qualified have built successful businesses on top of Salesforce, contributing to the creation of a vast ecosystem that is estimated to be four times the size of Salesforce itself. However, only a few companies within this ecosystem have achieved significant growth due to their narrowly-focused point solutions. End-users often have to combine multiple tools from different vendors, which larger enterprises are hesitant to do. Unaric aims to address this issue.
Unaric, founded in London in July 2020, plans to acquire up to 40 companies within the next three years. Its first acquisition is Salesbolt, a product that automates CRM contact updates. Over time, Unaric intends to promote cross-selling and knowledge-sharing across all Salesforce products under its umbrella, while also establishing a shared central infrastructure and a product and engineering hub.
Unaric’s initial focus lies in the Revenue Operations (RevOps) realm. By acquiring multiple companies in this area, Unaric aims to drive cross-sales and increase revenue. The company already has a pipeline of deals lined up. Unaric plans to utilize its knowledge of industries and customers’ needs to build suites of companies focused on specific industry sectors.
To support its ambitious acquisition plans, Unaric has secured $25 million in debt from Atempo Growth, along with $10 million equity from various venture capitalists, angels, and growth lenders. Notable investors include Sam Gutmann, the founder of OwnBackup, Johan Malmberg, the founder of Hotjar, and enterprise software startup investor Dave Kellogg.
Unaric aspires to follow the growth trajectory of successful enterprise software companies like Veeva Systems and Ncino, which were built on top of Salesforce. These companies achieved success by focusing on a single industry’s technology stack and growing through product development and mergers and acquisitions. Unaric seeks to replicate this success by building multiple companies within its own ecosystem.
As Unaric embarks on its acquisition spree, it emphasizes the need to provide enterprise customers with comprehensive solutions, rather than requiring them to manage various niche solutions from different vendors. Unaric believes that by creating larger suites of products that address the specific needs of enterprises, it can significantly increase sales, scale businesses, and attract corporate buyers who would not normally purchase from individual vendors.
With its substantial funding and strategic vision, Unaric aims to establish itself as a major player within the Salesforce ecosystem. The company’s consolidation strategy and commitment to solving key challenges for enterprise customers position it for success in capturing a significant share of the Salesforce market.
