inRiver Closes $32 Million in Funding Led by Lugard Road Capital

Focus on product excellence, global expansion, and partnerships continue into 2021 for the leading product information management (PIM) solution offered as a SaaS

CHICAGO and MALMร–, Sweden โ€“(November 2, 2020)

โ€”ย inRiver,ย 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 leading global investment firm, and with participation from existing investors Verdane, Industrifonden, Zobito, and RoosGruppen. The funding will support the rapid growth planned to meet accelerated customer demand, continued product development, and further global expansion of inRiver.

โ€œThe growth in digital commerce, complexity of data, and the increasing importance of the technology ecosystem has been unprecedented this year,โ€ said Thomas Zanzinger, CEO, inRiver. โ€œBuyers 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. inRiverโ€™s latest funding means we can help even more businesses to solve those challenges.โ€

As more organizations expand and enhance their digital commerce offerings, the need to scale quickly and easily increases. inRiverโ€™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.

โ€œWe are excited to partner with inRiver on this funding round to drive growth,โ€ stated Jonathan Green, Partner, Lugard Road Capital. โ€œDigital commerce is a high-growth market and this will only strengthen inRiverโ€™s leadership position.โ€

To learn more about inRiver and how we help organizations speed time to market and drive revenue, visit the site.

* Pareto Securities acted as sole manager and book-runner in connection with the funding round.


About inRiver

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 Malmรถ, Sweden, inRiver has offices in Chicago and Amsterdam. For more information, visitย inRiver.com

About Verdane

Verdane is a specialist growth investment firm that partners with tech-enabled and sustainable European businesses. Verdane can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy inside two core growth themes; digitalisation and decarbonisation. 

Verdane funds hold over โ‚ฌ6 billion in total commitments and have made over 400 investments in fast-growing businesses since 2003. Verdaneโ€™s team of over 140 investment professionals and operating experts, based out of Berlin, Munich, Copenhagen, Helsinki, London, Oslo, and Stockholm, is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe. 

Verdane is also a certified B Corporation, the most ambitious sustainability accreditation globally. The firm only backs businesses that pass its 2040 test, which indicates whether the company can thrive in a more sustainable future economy. 

Verdane is partly owned by the Verdane Foundation, which is focused on two areas: climate change and more equitable and inclusive local communities. 

More info: www.verdane.com โ€ฏ
Follow Verdane on LinkedIn

Press Contact

Contacts:

For U.S.
Erika Goldwater
Erika.goldwater@inriver.com
+1 617.407.3578

For EMEA
Katja Doemer
Katja.doemer@inriver.com
+49 151 52846868

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