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Scorpion raises $100m from Bregal Sagemount to expand its technology and services

Scorpion raises $100m from Bregal Sagemount to expand its technology and services

As well as raising the funds, Scorpion has announced a plethora of new senior hires.

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Digital marketing expert Scorpion has announced a $100m investment from Bregal Sagemount, which will help to expand its technology and customer offerings.

This funding comes during a considerable growth period for Scorpion, with the organization currently planning to open a new headquarters in the Salt Lake City area. The company also continues to add to its nearly 1,000 employees, with several senior hires that will further boost its capabilities.

These include the appointment of Daniel Street as CEO, Mikel Chertudi as chief revenue officer, Raj Ramanan as chief operating officer, and Azim Nagree as EVP operations and M&A.

“The pandemic has cemented the need for businesses of all sizes to undergo a digital transformation in order to effectively reach and communicate with their customers. Many local providers recognize the need to adopt digital tools and services for local market insights, but simply don’t know where to begin,” said Scorpion CEO, Daniel Street.

“I am thrilled to lead Scorpion, as we continue to bring local businesses enterprise-grade technology to drive informed market decisions and enable them to focus on what they do best.”

Each of the company’s new hires brings with them an impressive background in executive leadership: Street, a former SVP of digital for Nexstar, CEO of Loku, executive at KKR, and management consultant at Bain and Company, brings decades of extensive experience as a highly regarded technology executive with strategic insights in local media, digital marketing, and SaaS.

Chertudi, former head of digital marketing, growth and inside sales at Adobe, is a digital SaaS expert with more than fifteen years of experience in marketing, product, and sales in B2B and B2C revenue models.

Ramanan brings leadership and operational experience from his time spent at McKinsey, Disney, and KKR, and will help Scorpion grow revenue, onboard new customers, and continue to provide world-class service.

Nagree, previously principal of Nagree Consulting and VP of account management at Cision, brings 15 years of experience in growing, scaling, and exiting innovative startups.

“Scorpion experienced remarkable growth thanks to its dedication to building a better way to help local businesses thrive,” said Blair Greenberg, partner at Bregal Sagemount. Kirk Smith, principal added, “Its tireless determination, genuine care, cutting-edge tools, and award-winning services are unmatched, and at the core of every customer experience. Bregal Sagemount is excited to be part of Scorpion’s prosperous journey as we invest in its growth and technology expansion.”

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