Swedish based inRiver has announced $32 million in funding led by the global investment firm Lugard Road Capital 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.
“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,” Zanzinger added.
As more organisations 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,” said Jonathan Green, Partner, Lugard Road Capital.
“Digital commerce is a high-growth market and this will only strengthen inRiver’s leadership position,” Green added.
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