NFINITE RAISES $100 MILLION SERIES B TO EXTEND LEADERSHIP IN IMMERSIVE 3D E-COMMERCE AND E-MERCHANDISING CATEGORIES
NEW YORK, June 7, 2022 /PRNewswire/ -- nfinite, a leader in next-generation visualisation and e-commerce merchandising, announced today that it has raised $100 million in Series B funding led by global software investor Insight Partners, with participation from existing investor USVP (US Venture Partners).
The funding will be used to expand nfinite's global customer, engineering, and marketing operations to provide the scale and support needed to meet rapid market adoption of its SaaS-based visual e-merchandising platform. It will also help expand the nfinite 3D marketplace which comprises the world's most extensive community of 3D talent and tools dedicated to e-commerce.
The nfinite SaaS platform allows retailers to create, display, and manage unlimited product visuals through advanced CGI technology. It achieved a 10-fold growth in ARR in the last year and has been adopted by three of the world's top five global retailers.
Retail e-commerce is forecast to grow 50%, reaching sales of $7.4 trillion, over the next four years (source: Statista). As e-commerce grows, e-merchandising struggles with a legacy content stack that hampers the creation of high quality, flexible imagery, and truly immersive product experiences for online consumers. The nfinite SaaS-based end-to-end e-merchandising platform solves this problem by removing the technology, cost, and complexity barriers.
Said Alexandre de Vigan, nfinite founder and CEO: "E-commerce is increasingly virtual and consumers yearn for immersive online shopping and personalised experiences, yet e-merchandising - the link between the product, the consumer, and the online cart - was broken. So, we helped fix it by building a one-stop solution for creating, displaying, and managing unlimited product visuals almost instantly. By shifting retailers' visual production to computer-generated 3D imagery and helping them build digital catalogues at a fraction of the cost, the nfinite platform is transforming their e-commerce outcomes which can be measured in magnitudes of increased traffic, engagement, and sales."
Said Rebecca Liu-Doyle, Managing Director at Insight Partners, who has now joined the nfinite board: "nfinite is redefining the e-merchandising space with a platform that enables high quality visual content to be produced at scale—and the largest, most innovative online retailers are already taking note. The company has incredible growth potential and we couldn't be more excited to partner with Alex and the nfinite team to help them bring it to fruition."
The nfinite platform already provides visual assets compatible with Web2 and Web3 applications. As marketing teams explore the future potential of the Metaverse, the ability to create visual assets compatible with both the intense 3D visualisation, and 3D search engine requirements, will enable an organic transition and on-ramp.
About Insight Partners
Insight Partners is a global software investor partnering with in high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of February 24, 2022, the closing of the firm's recent fundraise, Fund XII, brings Insight Partners regulatory assets under management to over $90B. Insight Partners has invested in more than 600 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Insight Partners meets great software leaders where they are in their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
nfinite is a SaaS e-merchandising platform that empowers retailers to grow their business and compete in the digital age. It is a turnkey solution for creating, displaying, and managing unlimited product visuals through one seamless interface. Simplifying and scaling CGI technology, the nfinite platform enables companies to cut costs, lift logistical constraints, and accelerate their time to market, while reducing environmental impact. With unlimited visual production capacity, companies can enter the world of endless visual combinations, interactive experiences, and real-time personalised content. Visit nfinite.app for more information.