RBM TECHNOLOGIES CLOSES ON $9.5 MILLION GROWTH EQUITY FINANCING (04.07.2014)
Source: RBM Technologies, Inc.
RBM Technologies Closes on $9.5 Million Growth Equity Financing
Software veteran E.Y. Snowden takes over as CEO to lead visual merchandising SaaS pioneer
CAMBRIDGE, MA – April 7, 2014
RBM Technologies, Inc. – the innovator of software-as-a-service (SaaS) visual merchandising solutions for retailers — today announced it has closed $9.5 million in the first institutional financing in its history. RBM also announced the appointment of E.Y. Snowden as its new President and CEO. With its strengthened balance sheet and Snowden’s background in SaaS, mobile and retail technologies, RBM plans to enhance its products and expand its leadership position from North America’s mobile retail stores to the high growth international mobile market and new retail verticals.
Spring Lake Equity Partners
The financing was led by Spring Lake Equity Partners, formerly the private equity arm of Tudor Investment Corporation, and included Randy Greene – the founder, director and former CEO of RBM. Dan MacKeigan, partner at Spring Lake, commented, “With RBM’s 14 years of pioneering success, it has dramatically transformed the in-store merchandising process for many well-known brands. E.Y. Snowden’s experience in scaling businesses is a critical catalyst to RBM’s growth plan as it is poised with unique solutions that address merchandising needs in the fast-paced, ever-changing retail sector.”
RBM Technologies – Pioneers in Managing In-store Visual Merchandising
Snowden brings a strong operating background to his role at RBM, including his experience as CEO of Boston Communications Group, a SaaS provider to mobile network operators, and as President of APC/Sprint Spectrum, where he oversaw the launch of America’s first PCS network and the birth of Sprint’s nationwide retail chain. Snowden’s high-performing organizations have been honored as Fortune Magazine’s 25 Very Cool Companies to Work For and Boston Business Journal’s 25 Best Places to Work.
Snowden stated, “It is an exciting time to be joining a well-respected player like RBM, as mobile and merchandising innovations are driving such change for retailers. I look forward to guiding the Company’s effective utilization of the resources provided by Spring Lake to accelerate enhancement of existing products, development of new products, and expansion into new sectors.”
RBM Technologies is the leading SaaS retail solution for merchandising campaign planning, communication and in-store execution. RBM helps retailers to reduce waste and stranded inventory, accelerate marketing responsiveness, and increase revenue. Since 2001, RBM has helped global brands and leading retailers carry out national merchandising campaigns with consistent execution that is localized to each store’s unique attributes. RBM’s suite of solutions gives retailers worldwide real-time visibility into individual stores to drive precise counts for product and merchandising materials, consistent presentation and messaging, and verified compliance for each fixture in each store. RBM Technologies helps retailers create consistent customer experiences with the right product and the right messaging, at the right time, and in the right place.
About RBM Technologies, Inc.: RBM Technologies, Inc. is the leading SaaS retail solution for optimizing in-store merchandising campaign planning, communication, and execution. Based in Cambridge, Massachusetts, RBM’s Visual Merchandising Manager, SKUter and VMM Mobile help global brands and leading retailers deliver a consistent brand experience to their customers, with the right products, at the right time, in the right place. For more information, visitwww.rbmtechnologies.com or follow us on Twitter: @RBMRetail.
About Spring Lake Equity Partners: Spring Lake Equity Partners, formerly the private equity arm of Tudor Investment Corporation, invests primarily in later-stage, technology-oriented growth companies with proven products and services that require equity capital for growth initiatives or liquidity. It partners with strong management teams and helps companies transition from entrepreneur-driven businesses to organizations with scalable and repeatable business processes and financial discipline. Spring Lake targets investments across a range of industries including private companies in the technology sub-sectors of software, digital media, mobile, data center infrastructure, healthcare IT, and business/financial services.