Infopia, a leading provider of high-impact, next-generation eCommerce software for online businesses, today announced it has closed and received the last tranche of a $3 million Series A round of venture capital funding, lead by Trans Pacific Partners and B.C. Select Fund. O. Jeffrey Collett, Managing Director of B. C. Select Fund, is joining the company's board of directors.
Infopia, developer of scalable high impact ecommerce software solutions which enable customers to increase their competitive advantage online, develops and markets Marketplace Manager, a hosted suite of online applications, web services and workflow solutions. Marketplace Manager is used by a growing number of successful ecommerce businesses, ranging from small- and mid-sized businesses to Fortune-ranked corporations. Included in Infopia's customer base are many of the most successful sellers on eBay, Yahoo! Amazon. Infopia is expected to report profitability later this month and will use the capital to accelerate its already rapid growth. The company has more than doubled its revenue every year since the inception in 1999.
"We participated in Infopia's initial seed round and have been very impressed with the progress of the company, its loyal customer base, revenue growth, and its highly driven and committed employees," said O. Jeffrey Collett of B.C. Select Fund. "The company has been able to bridge a very fragmented industry in the eCommerce field and provide a flexible, best-of-breed solution that has allowed their customers to gain dramatic competitive advantage as a result of internal cost savings and greatly improved end-user experience. The increasing market acceptance for their products and the size of the market opportunity were key elements in our investment decision."
"The closing of this investment in Infopia is a testament to the hard work, long hours and commitment to excellence of our team," said Bjorn Espenes, CEO of Infopia. "The investment furthers our ability to develop solutions that positively change the way businesses operate in a multi-channel, rapidly changing eCommerce environment. We have developed a unique solution to a common problem, and this capital will allow us to scale up and help more companies benefit from the technology we are bringing to the market."
For more information about Infopia and Marketplace Manager, please visit http://www.infopia.com.
