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Internet marketing firm Scorpion raises $100 million from Bregal Sagemount

Reuters
·1-min read

(Reuters) - Scorpion has raised $100 million in funds from investment firm Bregal Sagemount to expand its technology and customer offerings, the internet marketing services provider said on Wednesday.

The company also said it had appointed former KKR & Co Inc and Bain and Company executive Daniel Street as its chief executive officer.

Scorpion recently acquired CanlRank, a software company that uses artificial intelligence to provide customers with locally relevant search engine optimization (SEO) insights, for an undisclosed sum.

SEO refers to the process of improving the visibility of one's website on internet searches.

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Salt Lake City, Utah-based Scorpion also appointed new executives to the roles of chief revenue officer, chief operating officer and EVP of operations and mergers and acquisitions.

Scorpion plans to move to new headquarters in the Salt Lake City area, it said.

(Reporting by Sohini Podder in Bengaluru; Editing by Aditya Soni)