inRiver Closes $32 Million in Funding Led by Lugard Road Capital
Focus on product excellence, global expansion, and partnerships continue into 2021for the leading product information management (PIM) solution offered as a SaaS.
CHICAGO and MALMÖ, Sweden—(November 2, 2020) inRiver, a leading provider of product information management (PIM) solution that helps businesses sell more products, today announced that they have closed $32 million in funding led by Lugard Road Capital, a global investment fund, and with participation from existing investors Verdane, Industrifonden, Zobito and RoosGruppen. Funding will support the rapid growth planned to meet accelerated customer demand, continued product development, and further global expansion of inRiver.
“The growth in digital commerce, complexity of data, and the increasing importance of the technology ecosystem has been unprecedented this year,” said Thomas Zanzinger, CEO, inRiver. “Buyers now expect consistent and engaging customer experiences across channels, this means product information has to be exceptional to drive revenue. Global teams cannot waste time or money on manual processes, inaccurate data, or the inability to scale. inRiver’s latest funding means we can help even more businesses to solve those challenges.”
As more organizations expand and enhance their digital commerce offerings, the need to scale quickly and easily increases. inRiver’s product information management solution integrates smoothly with other technologies in the ecosystem to offer the most extensive and scalable multitenant SaaS solution in the market today.
The funds raised will be used to drive accelerated product leadership and extend the offering. The funding will support accelerated expansions in North America, the highest growth market, and will help open new growth markets across Europe. It will also help inRiver continue to build key partnerships and alliances to meet evolving customer demands.
“We are excited to partner with inRiver on this funding round to drive growth,” stated Jonathan Green, Partner, Lugard Road Capital. “Digital commerce is a rapidly evolving market, and this will only strengthen inRiver’s leadership position.”
To learn more about inRiver and how we help organizations speed time to market and drive revenue, visit the site here. www.inriver.com.
*Pareto Securities acted as sole manager and bookrunner in connection with the funding round.
For US:Erika Goldwater
For EMEA:Katja Doemer
+49 151 52846868
inRiver helps organizations sell more products online via better product information. Its product information management (PIM) solution enables better customer experiences for branded manufacturers, industrial manufacturers, and retailers to sell their products and solutions across any channel or marketplace quickly and easily. inRiver helps businesses increase revenues, customer satisfaction, and brand equity for over 1,500 brands and 500 customers globally. Headquartered in Malmö, Sweden, inRiver has offices in Chicago and Amsterdam. For more information, visit inRiver.com
About Lugard Road Capital
Lugard Road Capital is a global investment fund primarily focused on public and private companies in the Internet, software, consumer, and technology sectors.