ItemMaster Secures $7.5M Series A Funding Led by Edison Partners
Funding Will Accelerate Growth of ItemMaster’s Key Offerings to Solve Dramatically Increasing Product Content Needs of CPG Brands and Retailers
CHICAGO, IL – November 22, 2016 – ItemMaster, LLC, a leader in creating and delivering comprehensive, certified content for major brands both online and in-store, announced today that it has completed a $7.5MM Series A financing round. New Jersey based Edison Partners led the investment effort with follow-on participation from Chicago Ventures, the lead investor of ItemMaster’s seed round.
ItemMaster’s cloud-based Brand Activation™ platform enables manufacturers to verify, share and manage their product portfolio and custom branded content for distribution across all channels, both online and offline. OnDemand™ delivery and platform API’s allow for roughly 1,000 retailers, e-tailers, agencies and mobile application developers to access ItemMaster’s certified content from more than 5,000+ brands.
“ItemMaster’s Brand Activation platform is achieving impressive market growth,” said David Nevas, Principal at Edison Partners. “We are very impressed by the quality and accuracy of product data and their ability to help brands drive online sales of their products.” Nevas will join ItemMaster’s Board of Directors.
“It’s fantastic to add Edison Partner’s support as we continue to rapidly expand our Brand Activation Platform and OnDemand content delivery network,” noted Michael Murray, CEO & President of ItemMaster. “We are on a clear path to creating dynamic packaging for the 21st century for the $600BB food industry in the U.S., which adds immense value to our manufacturer and retailer customers alike. Going forward, we see a real opportunity to end the burden of content cobbling by providing visibility into digital content distribution and addressing the expanding product content needs emerging in today’s marketplace” said Murray.
“ItemMaster is transforming the way in which brands manage their digital shelves and retailers access and distribute standardized content to their customers. Given that the Midwest is home to some of the world’s largest brands and retailers, it’s no surprise that the company enabling these organizations to meet the challenges of a more digital future is based right here in Chicago,” said Stuart Larkins, Partner at Chicago Ventures. “We are pleased to partner with a team that will continue to leverage their local roots on the road to becoming a global leader.” Larkins will also join the ItemMaster board.
ItemMaster plans to continue to invest in technology, marketing and operations to scale the business among the company’s core clients of manufacturers and retail exchange partners. In addition, the leadership team also plans to build its talent base to provide solid support for the company’s growing client roster.
More than 1,000 retailers, agencies and mobile app developers access ItemMaster as a one-stop source of certified brand content through our open exchange network. This allows ItemMaster to offer manufacturers real-time analytics and actionable brand data to drive business decisions. A privately held company, ItemMaster already supports Complete and Verified™ content for over 1,700 manufacturers and is on a mission to reinvent and deliver packaging for the 21st century.
For more information on ItemMaster, visit www.itemmaster.com. For media inquiries, contact Gaelen Bell at (312) 946-6089 or firstname.lastname@example.org.
About Edison Partners
For 30 years, Edison Partners has been helping CEOs and their executive teams navigate the entrepreneurial journey and build successful companies. Through the unique combination of expansion capital and the Edison Edge platform, consisting of strategic advisory, the Edison Director Network, and executive education, Edison employs a holistic approach to nurturing invention and creating value for growth stage businesses ($5 to $20 million in revenue) in financial technology, healthcare IT, enterprise IT, and marketing software industries. Edison investment objectives also include: buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s active portfolio has created aggregate market value exceeding $5 billion. Its long-tenured team, based in Princeton, NJ manages more than $1 billion in assets throughout the eastern United States. For media inquiries, contact Elizabeth Stotler at email@example.com
About Chicago Ventures
Chicago Ventures is a seed stage venture capital firm that invests in tech-enabled startups in Chicago and the Central region of the country. As former operators engaged in the Chicago community, the team taps this experience, along with its network of advisors and investors, to help its dozens of portfolio companies operate, execute and scale, hire the right talent, and connect with customers. For media inquiries, contact Lindsay Knight 312-379-9652 or firstname.lastname@example.org