What is SPS Commerce?
SPS Commerce operates as a premier cloud-based supply chain management software provider, specializing in the digitization of trading partner relationships. Its comprehensive SaaS platform integrates essential functions including Fulfillment, which automates EDI and shipping processes, and Analytics, which normalizes retail POS data for actionable insights. By facilitating seamless collaboration across the omnichannel retail ecosystem, the company addresses the complex requirements of modern distributors and grocers. Headquartered in Minneapolis, the firm has evolved from its origins as St. Paul Software to become a cornerstone of retail operational efficiency, leveraging its platform to enhance data accuracy and supply chain visibility for a diverse global client base.
How much funding has SPS Commerce raised?
SPS Commerce has raised a total of $183.3M across 8 funding rounds:
Series C
$15M
Series D
$10M
Series A
$1.2M
Series B
$17.7M
Stock Offering
$33M
Stock Offering
$1M
Stock Offering
$57.9M
Stock Offering
$47.5M
Series C (2000): $15M with participation from Brinson Partners, Damac Al Baraka Investment Co., Granite Private Equity, Axiom Venture Partners, and St. Paul Venture Capital
Series D (2001): $10M led by Axiom Venture Partners, Adams Street Partners, CID Equity Partners, St. Paul Venture Capital, and Granite Private Equity
Series A (2002): $1.2M supported by ABN AMRO Capital, Damac Investors, Granite Private Equity, CID Equity Capital, Brinson Partners, and St. Paul Venture Capital
Series B (2003): $17.7M featuring CID Equity Capital, Granite Private Equity, River Cities Capital, St. Paul Venture Capital, ABN AMRO Capital, Brinson Partners, and Damac Investors
Stock Issuance/Offering (2010): $33M backed by Thomas Weisel Partners, Needham & Company, JMP Group, and William Blair & Company
Stock Issuance/Offering (2010): $1M with participation from Undisclosed
Stock Issuance/Offering (2012): $57.9M led by Undisclosed
Stock Issuance/Offering (2013): $47.5M supported by Undisclosed
Key Investors in SPS Commerce
CID Equity Capital
CID Capital is a private equity group located in Indianapolis, Indiana. The company makes control investments in lower middle market companies which a track record of consistent success in need of capital to expand and grow.
River Cities Capital
RC Capital is a growth equity firm focused on building high-potential healthcare companies by leveraging the interplay of medical devices, healthcare services, and healthcare IT.
Adams Street Partners
Founded in 1972, Adams Street Partners provides investment management services in private markets worldwide. Their headquarters is located in Chicago, Illinois.
What's next for SPS Commerce?
Looking ahead, SPS Commerce is positioned to leverage its historical capital foundation to further penetrate the enterprise market. The strategic focus remains on expanding its suite of supply chain solutions, particularly in the realms of item data management and supplier onboarding. As the retail sector continues to prioritize digital transformation and omnichannel agility, the company's ability to integrate disparate trading partner networks will likely serve as a primary driver for future growth. By maintaining its commitment to technological innovation and operational excellence, SPS Commerce is well-equipped to capitalize on the increasing demand for integrated, data-driven supply chain visibility in an increasingly complex global marketplace.
See full SPS Commerce company page
