RBM Technologies Raises $7 Million to Fuel Growth and Innovation
BOSTON, MA – May 27, 2015 – RBM Technologies, Inc. – the leader in software-as-a-service (SaaS) visual merchandising solutions for retailers — today announces the closing of a $7 million financing to fund its rapid growth and product innovation. Existing investor Spring Lake Equity Partners is providing an additional $3 million in equity financing, and Bridge Bank is committing up to $4 million in debt financing. With this new capital infusion and the recent addition of top quality executive talent, RBM is poised to globally expand its cloud-based SaaS software – Visual Merchandising Manager (VMM), the emerging standard for retail merchandising campaign planning, communication and in-store execution.
This new round of financing brings the total capital raised by RBM to $16.5 million, further establishes the company as the leader in retail in-store execution, and enables aggressive expansion.
“The financial strength that Bridge Bank brings, with the renewal of the significant resources of top tier investors Spring Lake, accelerates RBM’s momentum in product leadership and market expansion,” states RBM Technologies CEO E.Y. Snowden. “We appreciate the confidence they are demonstrating in how VMM is fundamentally altering the retail landscape.
RBM Technologies is the leading SaaS retail solution for merchandising campaign planning, communication and in-store execution. VMM 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 each store to drive precise counts for product and merchandising materials, consistent presentation and messaging, and verified compliance for each fixture in each store. Leading retailers are using VMM to create consistent customer experiences with the right product and the right messaging, at the right time, and in the right place.
“Over the last year, RBM has demonstrated it is uniquely positioned to lead retail innovation in visual merchandising,” says partner Dan MacKeigan, Spring Lake Equity Partners. “Spring Lake is in the business of funding growth and innovation, and we are thrilled to lead this new round.”
“Bridge Bank provides innovative technology companies with customized solutions and industry expertise to help them realize their goals,” says Dick Sweeney, Bridge Bank’s northeast region director and market manager of its Technology Banking division. “We are excited to partner with RBM Technologies and Spring Lake Equity Partners as RBM – a well-established innovator in the visual merchandising sector — expands its reach globally for VMM,” added Sweeney.
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 Boston, Massachusetts, RBM’s Visual Merchandising Manager (VMM) helps 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, visit www.rbmtechnologies.com or follow us on Twitter: @RBMRetail.
About Bridge Bank, National Association: Recognized by The Findley Reports as a Super Premium Performing Bank, and designated “Superior” by BauerFinancial and IDC, Bridge Bank is a full-service professional business bank founded in the highly competitive climate of Silicon Valley in 2001. From the very beginning, our goal has been to offer small-market and middle-market businesses from across many industries a better way to bank. Our technology banking division provides a broad range of financial solutions to venture-backed and non-venture-backed companies, enabling us to meet our clients’ varied needs across all stages of business life. It’s how we go about doing so that differentiates us from our competition. Bridge Bank’s product offering includes growth capital, equipment and working capital credit facilities and treasury management solutions, along with a full line of international products and services and financing secured by domestic, government and foreign receivables. For additional information, visit the Bridge Bank website at www.bridgebank.com or follow us @BridgeBank.
About Spring Lake Equity Partners:
Spring Lake Equity Partners is a Boston-based private equity firm. We invest equity capital in later-stage, technology-oriented private companies. Our investment philosophy is simple and has remained consistent over time – we seek to partner with great management teams to help them take their businesses to the next level, creating value for all stakeholders.