Product information management (PIM) solution provider inRiver has closed a $32 million funding round led by Lugard Road Capital, with participation from existing investors Verdane, Industrifonden, Zobito and RoosGruppen. The company will use the funds to meet accelerated customer demand as well as support ongoing product development and expansion to new markets, including North America and parts of Europe.
“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 of inRiver in a statement. “Buyers now expect consistent and engaging customer experiences across channels, and 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.”