The Swedish software sensation inRiver doubles its revenue during 2013 and attracts heavyweight investors for the company’s growth and continued international expansion. inRiver is taking in 3,1 million USD (2,3 million EUR) in venture capital from Industrifonden and venture capital company Zobito run by former Qliktech executives Måns Hultman and Magnus Lindhe.
With a burgeoning market for Product Information Management (PIM) software, doubled revenue, and newly injected capital, inRiver is now going global with their successful and innovative software. Having opened offices in Chicago and Amsterdam and hired new management and staff, the company will during fall 2013 also start offering their software as a cloud service globally.
inRiver is all set to challenge traditional PIM software with a customer-centric business approach, aiming to take a larger share of the market. The company’s great success so far lies in the simplicity of the solution, the scalability of the software, the speed of implementation and the fact that the PIM software is both user-driven and user-friendly. With over 100 customers like GANT, Intersport, ITW, Office Depot, Velfac, Würth and Manfrotto, inRiver is now moving from a leader of PIM software in northern Europe to a serious actor on the global market.
“inRiver’s ability to quickly deliver business value and the total cost of ownership for a customer is very compelling. This was also one of Qliktech’s success factors” says Måns Hultman, Zobito, former CEO of Qliktech.
“We have a strong position and brand in northern Europe. Continuing our growth and the enhancement of our cloud solution, we will now bring our powerful tool onto the market on a global scale” says Roland Persson, Chairman of the Board at inRiver.
“We are very proud to be able to attract investors like Industrifonden and Måns Hultman and Magnus Lindhe from Zobito. The success they brought to Qliktech and the investment they are doing in our company is a great recognition for us and our software. With all this great knowledge and experience they bring to our Board of Directors, we are able to lean on their expertise to ensure the success of our continued international expansion”, says Niclas Mollin, CEO at inRiver.
For further information, please contact:
Niclas Mollin, CEO at inRiver, phone +46 733 40 58 75
Roland Persson, Chairman of the Board, phone +46 733 80 01 00