Ever since COVID-19, companies embracing digitisation and moving their services online have rapidly accelerated. The Sweden-based startup inRiver helps such companies smoothly transition online, thanks to its product information management (PIM) solution. The company has now raised a notable €27.09M in a new funding round, which was led by Lugard Road Capital.
Funding to fuel product excellence, global expansion, and partnerships
inRiver’s latest funding of €27.09M was led by Lugard Road Capital, a well-known global investment firm. Additionally, existing investors such as Verdane, Industrifonden, Zobito, and RoosGruppen also participated in the round. With the help of fresh funds, the company aims to go ahead with its rapid growth plans to meet accelerated customer demand, continued product development, and further its global expansion plans in North America and across Europe.
“The growth in digital commerce, complexity of data, and the increasing importance of the technology ecosystem has been unprecedented this year,” says 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. The startups’ latest funding means we can help even more businesses to solve those challenges.”
Helping businesses sell more online
inRiver was founded back in 2007 by Johan Billgren and Johan Boströmm, and has raised a total of €51M in funding till date. The Sweden-based startup offers product information management (PIM) solutions for its clients, which is touted to help them sell more products online. It also claims to offer enhanced customer experiences for branded and industrial manufacturers and retailers.