Inriver, a product information management technology provider, is planning significant international growth following a capital investment valued at about $400 million.
It’s a testament to the importance of product information as it is a foundation for modern commerce.
Thomas Zanzinger, CEO
Private equity firm Thomas H. Lee Partners, or THL — known for backing such high-growth digital technology companies as customer service firm Bazaarvoice and warehouse automation provider AutoStore — has invested in a majority stake in inriver to support the company’s product development roadmap and “ significantly expand its presence in North America and Europe to meet the demands of a high-growth market,” the two companies said today.
Jeff Swenson, managing director and head of vertical software at THL, says THL has studied the PIM technology market for years and considers it “essential for enabling digital commerce.” Inriver, he says, offers technology designed to help online companies manage the complex exercise of distributing accurate and revenue-generating content across multiple ecommerce channels.
He adds that it also provides “digital shelf analytics” to help companies learn how well their content is generating revenue with strong feedback from their online customers. “We think there’s an opportunity … to really increase awareness of the company and to accelerate investment in North America and across Europe,” he says.
“This is a milestone for inriver, our customers, partners, and investors,” says Thomas Zanzinger, CEO of inriver. “It’s a testament to the importance of product information as it is a foundation for modern commerce.”
Inriver serves more than 700 customers, including cable manufacturer Prysmian Group and consumer brand New Balance.
Early last year, inriver acquired Detail Online, a provider of technology designed to help companies distribute online content that fosters commerce, and incorporated it into inriver’s software suite. Inriver’s new financial resource will build on such technology offerings, the company says.
“We see more and more virtual photography being used,” says Johan Bostrom, co-founder and chief product officer of inriver. New offerings in the works from inriver, he adds, include the ability to distribute virtual photography assets, including augmented reality and virtual reality, via a content delivery network, and a new application for automating production and printing of PDFs that companies use to display large numbers of tables featuring thousands of attributes.
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