Pivotree’s IPO – More than 10 Years in the Making

Pivotree has been on an incredible journey of adaptation and evolution. 

Almost three years ago, we began a focused, strategic effort to become a leader in frictionless commerce. Seeing a rare opportunity, we invited two entrepreneurial companies to join us in creating Pivotree.

Now, our journey has resulted in successfully closing our Initial Public Offering on October 30, 2020. We couldn’t be more excited about what’s to come.

What Does the IPO Mean for Pivotree?

We believe in the future of frictionless commerce, and we want to help shape it with our extraordinary employees, partners, and clients. This IPO is an opportunity to adapt to conditions and secure additional capital from the marketplace. 

The original investors and I are joined by many of our employees and some amazing new investors in this IPO.  Every dollar raised is going into Pivotree to help develop and acquire more skills and capabilities to better serve our partners and deliver frictionless commerce to our clients.

As a public company, we will:

  • Invest in our people and their skill development; 
  • Acquire new skills and capabilities most relevant to our clients and partners; 
  • Define success by the value we create for our clients; and 
  • Invest in the future of frictionless commerce

We are well-capitalized, having secured the confidence of an impressive collection of high quality, long-term public market investors who share our vision.  

2020: Turning Challenges into Opportunities

As with any journey, our road to an IPO wasn’t without challenges – all of which made us stronger. 

Prior to the pandemic, the commerce world across B2B and B2C worked to keep up with the accelerating pace of technological change.  But in March of 2020, the whole world stalled in the face of the greatest health and economic challenge in generations. We – along with many of our clients, partners, and peers – had to make difficult decisions to survive.

However, like many of our technology peers, we quickly realized the pandemic wouldn’t stop the advance of technology. In fact, COVID-19 accelerated it. Those that had made investments in their digital transformation had more options and were able to recover faster.  It was clear that the market needed more from companies like Pivotree to help manage through COVID-19 and beyond. We pursued an IPO to gain more resources, enabling us to bring more value, skills, and strength to our clients and partners.

The Best is Yet to Come

None of this would be possible without our talented, hard-working colleagues. The pride we share in serving some of the best clients in the world is obvious. And we derive great pleasure working collaboratively with innovative partners to overcome the many technical and business challenges our clients face today.

We are excited and energized to begin this new chapter as a public company.  Furthermore, we are aware of the responsibility we now have to wisely invest our new capital to make frictionless commerce a reality. 

To our existing clients and partners who inspire us to continue adapting relentlessly – thank you. We look forward to being on this journey with you – the best is yet to come.

A Canadian ecommerce pioneer, Bill is the CEO of Pivotree after the merger of Tenzing, Thinkwrap and Spark::red. As CEO of Tenzing, he helped to accelerate the company’s evolution and growth as a highly skilled and specialized provider of managed IT services. Bill’s investment group, Eventi Capital Partners, initially invested in Tenzing in 2007 and he became CEO of the company in 2015. Bill has extensive experience building high-performance teams and driving rapid revenue growth companies. He is the founder and former CEO of Grocery Gateway, an early leader in the Canadian eCommerce space. After leaving the company, Bill founded Eventi Capital Partners in 2002 as a vehicle to invest in SaaS and web infrastructure services companies. He is a graduate of the Richard Ivey School of Business and was named E&Y’s Young Entrepreneur of the Year in 2000.