Broadlume, a Sarasota, Florida-based software provider for flooring retailers, is re-launching the brand, merging all of its acquisitions into one portfolio, creating a more stream-lined approach to servicing the flooring retailer. Broadlume is excited to promote its new website that reflects these changes just in time for the November FloorCon event.
"The firm took in a previously undisclosed $60 million from PSG, a technology investment firm, that has financed several deals already," said CEO Todd Saunders. "Broadlume has been able to help retailers increase their profit margins by the double digits."
To date, the company has raised more than $90 million to provide independent flooring retailers with technologies they need to grow their businesses.
Since the July 2021 deal, Broadlume has used most of the proceeds on technology acquisitions. In March, Broadlume acquired enterprise resource planning software platform BanaBoom. This follows its acquisition last fall of ERP platform Roll Master, which provides back-office functions such as inventory management, scheduling and accounting. Last August, it acquired Retail Lead Management, a CRM that helps companies manage their leads and understand ROI from advertising.
Meanwhile, Broadlume recently launched an in-store experience that connects retailers websites with their ERP and CRM, as well as matches their catalog information the same way in their showrooms as online.
The company also introduced a payment processing tool this month.
In a statement on its website, the company said it is rebranding to "wave one flag that stands for innovation, change, and helping local retailers win."
Broadlume aims to expand into financial technology (fintech), providing retailers fully integrated payment processing and payroll tools, as well as the ability to offer consumers financing options, according to Saunders.