MicroD Attracts Capital Investment to Accelerate Growth
Furniture World News Desk on
9/23/2016
MicroD, a provider of integrated online product presentation, website, ecommerce and EDI solutions for the home furnishings industry, recently announced that it has received a major investment from Armory Capital, a family investment office. The global technology provider plans to leverage the growth funds to bolster its already robust solutions development and customer service programs. Financial terms of the agreement were not disclosed.
According to MicroD CEO and Chairman Manoj Nigam “After a careful consideration of various alternatives available to MicroD, we are thrilled to have found such a committed partner as Armory Capital who shares our core values in providing long term industry technology leadership through innovation and world class customer service. Their support will empower us to immediately accelerate further development and enhancement of our industry renowned ecommerce, visualization, and electronic data interchange solutions. The investment will also enable us to aggressively innovate around 3D product presentations, virtual reality (VR), and other leading-‐edge technologies to expand our solutions portfolio and help our retail and manufacturing customer base to meet the fast changing needs and expectations of today’s consumers. This partnership positions us for growth and continued industry leadership.”
The current MicroD solutions portfolio includes the advanced OmniVue online merchandising and ecommerce platform, ePreVue interactive product and room visualization, MPCat Product Data Management (PDM), EXIM Commerce Electronic Data Interchange (EDI) and other industry-‐focused solutions. The MicroD senior management team remains unchanged with CEO and President Nigam adding the role of Chairman of the Board of Directors, while Mona Nigam continues to serve as Executive Vice President.
“MicroD has a deep history of innovation and market leadership that serves as an outstanding platform for continued future growth”, said Jacob Ambrose, Managing Partner of Armory Capital. “We are excited to partner with this exceptional organization as they take their products and services to the next
level. We look forward to supporting the MicroD management team as they execute on key growth initiatives to help their customers better connect and engage with consumers in today’s always-‐on omnichannel business environment.”
More about Armory Capital: Armory Capital is a family investment office founded by Jacob Ambrose, Rusty Freeland and Greg Lykins, in association with the August C. Meyer, Jr. family. Armory has legacy of more than 60 years of investing in private businesses. Unlike traditional private equity groups, Armory is funded with permanent capital. This unique funding structure means that the firm’s decisions are not driven by the limited life of a particular fund. Armory holds investments based on the merits of the opportunity and the needs of its management partners. For more information, visit
http://www.armorycap.com.
More about MicroD: MicroD is a technology partner in the home furnishings industry; who has led the way with innovating online product presentation, website, eCommerce and EDI solutions for manufacturers and retailers. MicroD focuses on the customer journey by tying the entire experience together with consistent data and seamless connections using an Omnichannel approach that increases the customer experience. With four core offerings: eCommerce, website platform; product catalog data; interactive product visualization; and electronic data interchange (EDI) solutions, MicroD highlights a smarter and faster way to generate traffic and increase sales. For more information, visit
www.MicroDinc.com.