Salesforce to acquire PoS startup PredictSpring to augment Commerce Cloud

Customer relationship management (CRM) software provider Salesforce has signed a definitive agreement to acquire cloud-based point-of-sale (PoS) software vendor PredictSpring to augment its existing Customer 360 capabilities in an attempt to get a stronger hold in the retail industry.

The California-headquartered startup’s PoS systems enable store associates to engage shoppers and complete transactions from anywhere in the store via a mobile device, Salesforce said in a statement.

Additionally, the PoS software comes with features that enable store operations including store fulfillment, keeping profiles of clients, and allowing customers to order items online that may not be available for immediate purchase.

“The combined talent, resources, and innovation of Salesforce and PredictSpring will empower brands and retailers to drive frictionless and personalized engagement across all touchpoints,” Jeff Amann, executive vice president of Salesforce Industries, said in a statement.

The startup is already an existing Salesforce ecosystem partner with several strategic retail customers and is already integrated with Commerce Cloud and Service Cloud, Amann added.

This partnership was formed back in 2019 when Salesforce had added new tools to its Commerce Cloud.

PredictSpring, founded in 2013 and counts Salesforce Ventures as one of its investors, is led by Nitin Mangtani, the founder of the startup.

Before starting PredictSpring, Mangtani worked as a product manager at Google leading the shopping merchant and search infrastructure team. Mangtani also led the Google Retail Promotions project, which was aimed at optimizing mobile conversions.

PredictSpring also has investments from Felicis Ventures, Novel TMT Ventures, and Beanstalk Ventures. The company raised $16 million in a Series B funding round from its existing investors and before that, it had raised $11.4 million in a Series A financing round led by Felicis Ventures.

While Salesforce didn’t disclose the transaction value of the acquisition, it said that it will hire the entire PredictSpring team, approximately 31 employees.

The acquisition is expected to close in the third quarter of Salesforce’s fiscal year 2025. The company follows February to January as its 12-month fiscal period.

Earlier in the year, Salesforce was reportedly attempting to acquire enterprise data management software provider Informatica. However, the acquisition talks fell through as the two companies, reportedly, couldn’t agree on the terms of the deal. Some other previous notable Salesforce acquisitions include the company taking over firms such as Slack, MuleSoft, and Tableau. The company also acquired slack-bot maker Troops.ai in 2022.