On the heels of incredible YoY subscription revenue growth in Q3, Crestline supplements its original investment in Riversand
Houston, TX – November 13, 2018 – Riversand, a leading software-as-a-service (SaaS) Master Data Management (MDM) and Product Information Management (PIM) solution provider, today announced it had received additional funding from Crestline Investors (“Crestline”), a credit-focused institutional alternative asset manager. The investment will be used to accelerate Riversand’s product innovation and increase market share through global sales and marketing expansion.
The data management market is experiencing tremendous 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 earlier in the year has fueled explosive growth for its cloud offerings, creating a demand 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 recent investment round for Actifio and exiting its previous investment in SpringCM through a $220 million acquisition by DocuSign.
“We are excited for our continued partnership with Crestline Investors at a time when we have realized our data management vision,” said Upen Varanasi, CEO and Founder of Riversand. “We will use this additional capital infusion to continue to push the envelope of product innovation, strengthen our sales and marketing efforts and accelerate growth in new geographies.”
“We are committed to continuing to invest in the data management space with a specific focus on the cloud. As enterprises of all sizes continue to prioritize investments in digital transformation initiatives, we believe companies such as Riversand will be at the forefront of enabling this vision,” said Will Palmer, a Managing Director at Crestline “We have been impressed with the execution at Riversand and the adoption of its product by the market. Riversand just closed a record-breaking Q3 and is moving towards capturing a bigger share of the cloud data management market. Our additional investment will support expanded growth initiatives to capture business in new markets through increased sales and marketing efforts.”
Riversand has experienced success in its core markets for almost two decades – and with the delivery of its SaaS data management platform Riversand has disrupted the traditional PIM and MDM markets. Read more here about how MDM has evolved and why a SaaS solution is needed for today’s competitive world.
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. Visit Riversand.com for more information and 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 www.crestlineinvestors.com.