Riversand, a leading software-as-a-service (SaaS) Master Data Management (MDM) and Product Information Management (PIM) solution provider, announced today it has received additional funding from Crestline Investors (“Crestline”), a credit-focused institutional alternative asset manager. In 2017, Crestline invested $35 million in Riversand for a Series A round. The additional investment will be used to continue Riversand’s product innovation as a technology leader in the space and fund growth initiatives.
The data management market is experiencing rapid growth as companies realize the value of data as a foundational requirement for business success. Riversand’s delivery of its cloud-native data management platform in 2018 fueled demand for its cloud offerings, creating an opportunity for additional investment to support expansion initiatives.
Crestline brings investment expertise to the data management market, having invested in several data management opportunities over the past few years, including leading a 2018 investment round for Actifio and exiting its previous investment in SpringCM through a $220 million acquisition by DocuSign.
“Crestline Investors is a valued partner and has enabled us to deliver a best-in-class product that is seeing incredible adoption and high levels of customer satisfaction,” said Upen Varanasi, CEO and Founder of Riversand. “We will use this additional capital to continuously strengthen our product through innovation, amplify our sales and marketing efforts, and accelerate growth in new geographies and market verticals.”
Riversand has experienced success in its core markets for almost two decades. With the delivery of its SaaS data management platform, Riversand has disrupted the traditional PIM and MDM markets.
“We continue to believe that data-focused cloud-first businesses are well positioned to propel the prolific number of digital transformation initiatives being undertaken by a wide spectrum of companies,” said Will Palmer, a Managing Director at Crestline, “Riversand is having a record-breaking year and our additional investment will support that momentum.”
Riversand cloud-native master data management solutions are designed to support customers’ digital transformation journeys through improved business agility, faster adoption and improved collaboration across the enterprise. Riversand has a vision of helping companies know their customers better, move products faster, automate processes, mitigate risk and run their businesses smarter. Our customers, partners and analysts recognize us as a trusted partner, visionary and a leader. For more information, visit https://riversand.com. Follow us @RiversandMDM on Twitter and Riversand on LinkedIn.
About Crestline Investors, Inc.
Crestline Investors, Inc., founded in 1997 and based in Fort Worth, Texas, is an institutional alternative investment management firm. Crestline specializes in credit and opportunistic investments, including financing and restructuring solutions for mature private equity funds. In addition, the firm manages a multi-PM equity market-neutral hedge fund and provides beta and hedging solutions for institutional clients. Headquartered in Fort Worth, Texas, the company maintains affiliate offices in New York City, Chicago, London, Toronto and Tokyo.For more information, please visit https://www.crestlineinvestors.com.