Permira has invested in CommentSold, which is a cloud-based SaaS platform that allows live and social selling across multiple channels and shopping platforms, including merchants’ websites and the CommentSold-powered mobile app. Permira is a global equity firm that invests in tech-enabled companies. CommentSold will make use of the investment to propel its next phase in business growth. Along with the current management team, CEO Brandon Kruse will continue to direct CommentSold. He has been the driving force behind CommentSold’s expansion in the last four years. ZMC, an investor in the company, will be leaving.

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CommentSold helps retailers optimize business functions such as invoicing, merchandising, inventory management, fulfillment, and marketing, enabling them to offer a range of payment options, recommend products, send push notifications, prerecord videos for product demonstrations, and offer replays of previously recorded livestreams to shoppers on demand. More than 6000 sellers, small to medium businesses, and independent entrepreneurs have access to the technology, tools, as well as educational support, they need in order simplify and integrate their retail business operations. CommentSold’s trailing 12 months saw more than 1,000,000 minutes of content viewed by shoppers and generated over $1 billion in gross merchandise value (GMV). The company now has more than 12 million users.

“Partnering with Permira is the perfect way to kick off our next phase of growth and stay on the leading edge of live selling by ensuring our platform provides everything our customers need to engage shoppers and grow their businesses,” said Kruse in a statement. We are proud of the work we have done so far, and we know that Permira’s expertise in scaling consumer tech companies will allow us to unlock our potential and capitalize on the enormous market opportunity. We are very excited about the future and this investment is a significant validation of our platform, live selling and our team,” says the brand founder.

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CommentSold is part of the live-selling market, which is helping democratize e-commerce in line with growing consumption of live media. This market has seen a significant increase in internet adoption and mobile use via social media platforms. It now offers a more interactive shopping experience. While live selling is extremely popular in China, it is still a relatively untapped market in the United States. CommentSold has significant growth potential in its core platform offering as well as additional product and geographic expansion.