InRiver continues its international expansion. Today they announces funding of $ 10 million (€ 9 million) led by Verdane Capital, Industrifonden and Zobito, 8till5 reports.
InRiver has been around a while now, since 2007, and has developed a service that helps large companies manage images and information regarding products to be presented uniformly in all sales channels: online, in-store and catalog.
BMW, Fujifilm, Office Depot and Volvo and some of the startups international customers. Also a large selection Nordic ones: Coop, Haléns, Procurator, Stadium and Wurth.
The Nordic venture capital fund Verdane Capital, together with Swedish government fund Industrifonden and Zobito have all invested in InRiver earlier.
“InRiver is well positioned exactly at the intersection of multichannel retail and software. We have extensive experience in both areas. We look forward to helping inRiver to realize their ambitious plans for the coming years.” says Pål Malmros, partner at Verdane Capital Advisors.
The company has increased its sales significantly in recent years. In the latest financial statements from 2013 had sales of € 4.2 million, compared to € 3 million in 2012.
“We expect continued rapid growth of the world market where we aim to inRiver should have a leading position.” says Roland Persson, from InRiver
InRiver is headquartered in Malmö and has three additional offices: one in Switzerland, in the Netherlands and a North American office in Chicago.
