Verdane investment to help inRiver drive international growth
Stockholm/Copenhagen — Verdane Capital VIII (Verdane VIII) invests $10m in inRiver, a leading Swedish enterprise software company, to drive accelerated growth in the US and Europe, and to further strengthen inRiver’s cloud offering within Product Information Management (PIM) enterprise software.
Verdane VIII leads a $10m funding round in InRiver, a software company that provides multi-channel commerce professionals with cloud-based tools to build product content, storytelling and marketing in all channels, and with customers like Office Depot, BMW, Volvo and Fujifilm. The funds will be used for product development, marketing support, recruitments and continued growth on the expansive global market for Product Information Management (PIM). Industrifonden and Zobito also invest alongside Verdane VIII.
inRiver sees significant demand from both business to consumer (B2C) and business to business (B2B) customers, as well as consultants who focus on e-commerce, digital marketing and customer experience. A typical client has already invested in an e-commerce platform and tactical solutions, and now wants to present its products in a relevant way, in all channels. inRiver enables customers to do this by giving visual tools for creating, maintaining and distributing product information in multiple channels and in multiple languages.
“We see how omni-channel is changing demands when it comes to managing product information, both in B2C and B2B markets,” said Pål Malmros, Partner at Verdane Capital Advisors. “inRiver’s solutions provide the perfect answer to the challenges that customers face in this environment. inRiver is positioned right at the intersection of omnichannel retail and software, both industries in which have significant experience from Verdane funds’ holdings. We look forward to helping inRiver realise its ambitious plans over the next few years.”
“We are pleased to attract this funding that will enable us to focus on expanding even more rapidly and strengthen our position as global category leader in the field of PIM,” said Roland Persson, Chairman of the Board, inRiver. “An increasing number of companies of all sizes and in all industries are beginning to realize the need for ‘digital transformation’ and the value of product information and we expect the global market to continue its rapid growth – with inRiver in a leading position.”
“Our full-scale enterprise PIM, now available as Software as a service (SaaS), has been a great success and there is huge demand for our solutions amongst B2B and B2C companies, as well as among consultants operating in the fields of e-commerce, digital marketing and customer experience,” said Niclas Mollin, CEO, inRiver. “This is an area where outdated technology and old-fashioned business models are still very much in use. As a result, we have grown with more than 70 percent a year for the past four years.”
Funds advised by Verdane Capital Advisors provide flexible growth capital to Nordic companies with high ambitions in the IT, Energy and Advanced Industrial Sectors. What sets Verdane funds apart is the flexibility to buy either a single shareholding, a complete portfolio or parts of a portfolio amongst a group of unlisted assets. The funds have EUR 700 million in committed capital from institutional investors. Since 2003, the funds advised by Verdane Capital Advisors have acquired 23 portfolios with stakes in over 250 companies. Verdane funds have invested in companies such as Easypark, Mathem, MJP Waterjets, Royal Design and Åkerströms. Former holdings include CRF Health, Bythjul, DIBS, Resman, Tradedoubler and Wireless Maingate. For more information, please visit www.verdanecapital.com
inRiver is the market leader for simplifying Product Information Management (PIM), enabling multi-channel commerce professionals to visually manage their product information. inRiver is fast to implement and easy to use, radically facilitating the creation, maintenance, and distribution of product information to multiple sales channels in multiple languages.
inRiver was founded in 2007. The company has its headquarters in Sweden and offices across Europe and the US. Since 2014, its North-American operations are run from the Chicago office. The company operates through a global partner network, with more than 350 certified implementation consultants.
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