Frontify Raises $50M to Revolutionize Brand Asset Management

The Growing Importance of Visual Brand Management

The impressive growth of collaborative design platform Canva – currently valued at $40 billion – and the increasing popularity of NFTs, allowing ownership of limited-edition digital assets, highlight the tech industry’s focus on engaging visual media. Another startup is addressing a similar need, specifically for brand management within organizations, and has recently secured new funding.

Frontify Secures $50 Million in Funding

Frontify, a provider of a cloud-based platform for businesses to centralize and distribute brand assets, has completed a $50 million equity round. The Swiss company, headquartered in St Gallen, will utilize these funds to enhance its technology and expand into new markets, such as the U.S.

Investment Details

Revaia, formerly Gaia Capital Partners, spearheaded the funding round. High Sage Ventures joined as a new investor, alongside participation from existing backers EQT Ventures, Blossom Capital, and Tenderloin Ventures. Previously, EQT Ventures led the company’s $22.3 million round in January 2020.

Pandemic-Driven Growth

This earlier funding occurred just before the global escalation of the COVID-19 pandemic. Interestingly, the shift towards distributed, cloud-based, and remote work proved beneficial for Frontify. The company gained approximately 300 new customers as the pandemic took hold, bringing its total customer base to 5,000.

Established Client Base

In January 2020, Frontify already served around 2,500 organizations. Notable public clients include prominent companies like Facebook, Pepsi, Lufthansa, Sennheiser, and Vodafone.

Beyond Digital Asset Management

Frontify’s platform functions as a central repository for managing and distributing brand assets, both internally and to external partners. However, it distinguishes itself from other digital asset management tools – such as Bynder and Canto – by tracking how these assets are utilized.

Collaboration and Usage Tracking

Essentially, Frontify isn’t merely a file storage system for logos and fonts. It emphasizes collaboration and monitors asset usage, along with the progress of projects incorporating those assets.

Streamlining Digital Advertising

For instance, in digital advertising, Frontify enables the creation of templates with locked design elements, ensuring consistency across multiple campaign variations. Critically, the platform is designed for distributed collaboration, catering to teams that now operate remotely, similar to how they interact with external partners.

Platform Accessibility and Extensibility

The platform is accessible via web and desktop applications. Furthermore, developers can create custom templates and applications leveraging Frontify’s platform.

The Evolving Digital Media Landscape

The digital media landscape is undergoing rapid transformation. While the long-term viability of NFTs remains uncertain, they underscore the market’s desire for control over visual content. Canva provides a broad platform for designing and sharing digital work. Frontify occupies a unique B2B space, recognizing the value of brand assets and facilitating collaboration aligned with organizational design objectives.

A Consistent Brand Experience

This focus on consistency aligns with Frontify’s core vision. CEO and founder Roger Dudler explained in January 2020, “We believe design tools may evolve rapidly, but the single source of truth for all brand resources will remain constant.” He added, “We bridge this gap by integrating with existing tools.” The company’s templating features were described as bringing “Canva-like functionality to brands with a more targeted offering for complex enterprise needs.” (Frontify integrates with industry-standard software like Figma, Sketch, and Adobe XD.)

Investor Confidence

Elina Berrebi, founding partner of Revaia, stated, “We were immediately impressed by Frontify’s brand management platform and its ability to encompass the entire branding process. It serves as a single source of truth for employees and collaborators.” She continued, “They have proven their ability to attract globally recognized brands across all industries, while achieving strong revenue growth. We are also investing in the passionate team at Frontify and are excited to support its global leadership.”