Financing will further accelerate the development of inRiver Product Marketing Cloud.
August 24, Malmoe, Sweden—inRiver, the leading provider of SaaS-based product information management, has secured $12 million in further financing from the European Investment Bank under the European Fund for Strategic Investments (EFSI) and existing shareholders, enabling it to more aggressively invest in research, development, and global expansion. InRiver’s Product Marketing Cloud delivers best-of-breed, product information management capabilities to enterprises worldwide, including: Volvo, Intersport, Skullcandy, Ethan Allen, Brother International, Ashley Furniture, Fujifilm, Converse, and more than 900 other brands.
Product information management capabilities are crucial for manufacturers, distributors, and retailers who must manage the complexity of contemporary digital sales channels. Today’s product marketing teams need to rapidly collaborate in the creation, packaging, and distribution of their product information. inRiver Product Marketing Cloud facilitates this collaboration, leading to the delivery of world-class customer experiences across all touchpoints, and in all languages.
“Being the first provider of cloud-based product information management capabilities has led to very strong growth for inRiver, both in Europe and North America,” said Niclas Mollin, inRiver’s CEO. “This financing will allow us to further accelerate our growth and deliver even greater capabilities to marketing teams worldwide.”
“Access to finance for innovative and fast-growing companies is key to fostering competitiveness and digitalization in Europe,” said Romualdo Massa Bernucci, Director for EIB lending in the Nordic countries. “We are glad to support inRiver’s development and growth strategy; it’s companies like inRiver that enhance Europe’s position as a technology supplier and that create quality jobs across the continent.”
Founded in 2007, inRiver AB is a global, rapidly growing, and award-winning software-as-a-service company with an extensive partner network. The company is headquartered in Malmö, Sweden, with offices in Chicago, London, Amsterdam, and Stockholm. More than 900 brands around the world rely on inRiver Product Marketing Cloud to orchestrate the creation, packaging, and distribution of their product information. www.inriver.com
About the European Investment Bank
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. In 2016, the EIB provided Swedish projects with loans totalling to almost EUR 1.9 billion.