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Speed Commerce Announces New Ownership, $150 Million Investment

1-Speed CommerceE-Commerce technology and omnichannel solution provider Speed Commerce has completed a restructuring process that has resulted in new ownership and fresh investment in the company. 

The company’s new owners, led by Garrison Investment Group, are investing approximately $150 million through a combination of debt restructuring and new growth capital, allowing the company to capitalize on the e-Commerce marketplace. Significant additional capital to support expected future growth has also been earmarked.

Along with the financial restructuring actions, Speed Commerce announced three new C-level additions to the management team:

  • Hari Pillai, CEO;
  • Jyoti Kapoor, COO; and
  • Jochen Vogt, CFO

The new leadership team plans to expand the company by 20% to 40% annually over the next several years via organic growth and selective acquisitions. To support the expansion, the company also has a goal of increasing its employee base of approximately 1,500 by 20% to 40% per year over the next three to five years.

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The new executives will lead a growth strategy that encompasses: 

  • Accelerated organic growth through strengthened partnerships with existing customers; 
  • Aggressive customer acquisition with an emphasis on under-penetrated market sectors such as health care;
  • Expansion of the company’s “mass personalization” service offerings;
  • Setting the standard in the industry for operational excellence, customer service and development of human capital; and
  • Targeted M&A.

The new company, formally known as Speed Commerce Operating Company LLC, will continue to operate as Speed Commerce.

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