Canto Receives Significant Growth Investment from JMI Equity
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Additional funding will enable the expansion of Canto’s customer-facing teams and drive continued growth and innovation of company’s digital asset management software platform
SAN FRANCISCO--(BUSINESS WIRE)-- Canto, a leading provider of digital asset management (DAM) software, today announced that it has received a strategic growth investment from JMI Equity (“JMI”), a growth equity firm focused on investing in leading software companies. Canto will utilize the additional funding to expand its customer-facing teams, accelerate and broaden its product development initiatives and drive growth across its target markets.
Canto provides a cloud-based DAM software platform that customers strategically use to store, organize, and share large volumes of digital brand assets. As the complexity and volume of digital brand assets have increased over time, Canto’s solution supplants generic file storage systems, ensuring consistent messaging for businesses across all digital and physical locations, and empowering employees to collaboratively develop and deploy influential and impactful campaigns. Canto’s platform is used by thousands of organizations globally, of varying sizes and industries, including Godiva Chocolatier, Birkenstock, Gymshark, thyssenkrupp, Cathay Pacific and Americares.
“Canto is a really robust solution for managing assets for both internal and external use-cases,” said Canto customer, Thermos. “With a wide array of tools to help structure a customized workflow, Canto is a very versatile solution.”
“As online platforms drive the future of business and shape how companies interact and communicate with potential customers, it is increasingly important to have a dedicated solution to manage the assets that drive engagement,” said Jack McGannon, CEO of Canto. “Canto’s industry-leading platform offers a simple, secure and effective solution to manage collaboration within companies and facilitate consistent communications with potential and existing customers. With the support of JMI, we are excited to build on our success and continue to help our clients realize the power of digital asset management to level up and achieve more for their brands.”
“As we transition to an increasingly digital society, Canto is well-positioned to continue to provide greater efficiency and functionality to customers across its target markets,” added Peter Arrowsmith, Managing General Partner at JMI Equity. “We are excited to partner with Jack and his team to grow Canto’s business and cement its position as a leader in digital asset management.”
Canaccord Genuity Group Inc. served as Canto’s financial advisor on the transaction, and Cooley LLP provided legal counsel. Goodwin Proctor LLP served as legal counsel for JMI.
Canto is a leader in digital asset management (DAM) software, with customers that include many of today’s top brands. Canto gives marketing teams a simple, visual way to centralize, organize and share all their digital brand assets, empowering them to save valuable time and gain a competitive edge. Canto’s DAM solution has wide applicability to a variety of industry verticals, including retail, manufacturing, education, transportation, hospitality, nonprofit, healthcare, food and beverage, technology and more. Canto’s corporate headquarters is in San Francisco, with offices in Berlin and Frankfurt, Germany. For more information, visit www.canto.com.
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 155 businesses in its target markets, successfully completed over 105 exits, and raised more than $6 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders. For more information, visit www.jmi.com.
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