Riversand Nabs Cool $35M in Series A Funding Injection
Master Data Management solution provider Riversand has secured a Series A funding round worth $35 million. The investment was led by Crestline Investors and will be used to accelerate the company’s expansion and investment into their MDM 2.0 platform. In the company’s official press announcement, they note: “We will use this capital infusion to strengthen our foundation in core verticals, accelerate growth in targeted geographies and enter new markets through product innovation, sales and marketing.”
A major benefit of RiverSand’s Solution suite is its integration – all of its modules have been developed using the same interface, data model, and application framework. This offers clients a level of cohesion as they implement flexible business processes within the Riversand suite. For instance, RiverSand’s Data Quality, Digital Asset Management, and Dynamic Publishing functionality are all integrated with its MDM solution to increase productivity throughout a retailer’s catalog production process.
In a statement, Riversand’s Founder and CEO Upen Varanasi explained: “With our MDM 2.0 vision, we are bringing together Relevance, Trust and Insights to our customers in an era of Cloud, High Scale and Data Discovery. We will use this capital infusion to strengthen our foundation in core verticals, accelerate growth in targeted geographies and enter new markets through product innovation, sales and marketing.”
Riversand was founded in 2001, and since has increased its revenue more than 25 percent over the last six years. Last summer Solutions Review named Riversand a vendor to watch in Data Management. We may have been a bit early on them, but the new capital injection certainly speaks to the increasing demand Big Data vendors are seeing in the marketplace.