SAP to acquire Gigya — “Company Building is a Marathon, not a Sprint”
Today, SAP announced the intent to acquire customer identity management leader Gigya to further drive Gigya’s mission to enable businesses to build trusted digital relationships with their customers. As an early investor in the company since 2008, I’m thrilled by the team’s achievements and excited to watch the next phase of their journey.
Gigya helps companies turn unknown site visitors into known, loyal and engaged customers. More than 700 of the world’s leading enterprises, rely on Gigya to build identity-driven relationships with over 1.3 billion customers while powering scalable, secure, privacy-compliant identity management. Gigya leads the customer identity and access management (CIAM) market, according to recent reports from Gartner, Forrester and KuppingerCole.
However, Gigya’s road has been one of pivot and iteration, illustrating the Silicon Valley proverb that overnight successes take a long time. When we first invested, Gigya was positioned as the leading widget distribution network and was following an advertising model. The company then pivoted to a SaaS model selling a broad social engagement platform. Through iteration and by really listening to customer feedback, the company doubled down on the customer identity management problem and increased its focus on enterprise customers, which resulted in escape velocity for the business. The decision to partner with SAP was an easy one, as the companies were aligned on their mission.
The original founding team of Rooly, Eyal and Eran in Israel, as well as CEO Patrick in Silicon Valley have shown persistence and flexibility along the way. It has been an honor to serve as their partner and I believe that they will continue to expand their impact as part of SAP. We look forward to watching as the Gigya/SAP team continues to help businesses increase registrations, identify customers across devices, consolidate data into rich customer profiles, and provide better services, products and experiences .
Originally published at https://www.linkedin.com on September 25, 2017.