Chicago-Based InContext Solutions Announces $12 Million Series D Funding
Beringea, Hyde Park Venture Partners and Plymouth Venture Partners Invest for Future Growth
CHICAGO, Ill., August 29, 2014-- Chicago-based 3D virtual simulation technology company InContext Solutions is proud to announce $12 million of series D funding. The funding comes from Beringea LLC in Michigan and Beringea LLP in London, along with continued investments by Michigan based Plymouth Venture Partners and Hyde Park Venture Partners, who focus funding efforts on Midwest-based technology companies.
With the latest funding efforts, InContext Solutions plans to rapidly grow and expand its virtual simulation and research presence worldwide. Their marquee shopper marketing platform, ShopperMX™, is a SaaS (software-as-a-service) offering that allows manufacturers and retailers to collaborate over the web within a 3D virtual store simulation. The first-of-its-kind technology takes 3D visualization to the next level with endless capabilities for testing store, aisle and category layouts, product packaging, in-store marketing or even shopper flow within a store to determine which concept is the most effective for generating demand. ShopperMX helps clients become faster, smarter and more profitable as they bring shopper and retail concepts to market. In the last year alone, ShopperMX growth increased 168 percent and continues to accelerate.
“We are seeing great interest and investments from current clients as virtual continues to gain traction in the market. With this funding round, we will be able to exponentially boost our growth and offer enhanced virtual solutions for clients,” says InContext Solutions CEO Mark Hardy. “Our plan is to increase our dedicated and knowledgeable staff, invest further in our ShopperMX technology, and support expansion into Europe.”
InContext Solutions was founded in 2009 with a vision to revolutionize 3D virtual simulation technology via Internet streaming and offer unparalleled virtual store research services. To date, InContext Solutions has become a partner for a large roster of companies, including seven of the top 10 global consumer packaged goods companies, six of the top 10 quick serve chain restaurant companies in the United States, three of the top five grocery retailers in the United States and three of the top 10 mass, drug and value chain retailers in the United States.
In its short tenure, InContext Solutions launched a groundbreaking SaaS offering with Shopper MX, has been recognized by Forbes as one of “America’s Most Promising Companies,” and as a “Cool Vendor” by Gartner. As one of the fastest growing privately held technology companies, the Chicago firm sees no signs of slowing down in the future.
About InContext Solutions
InContext Solutions was founded in 2009 with a vision to revolutionize how virtual simulations could be used by leading businesses across the globe to research the placement of products in a retail setting. InContext Solutions provides a unique and in-depth perspective on what consumers see on the shelf, how this drives their purchase behavior and why. InContext Solutions has been recognized in the industry among “America’s Most Promising Companies” by Forbes in 2009, as a Chicago Innovations Up-and-Comer in 2010, and featured as a “Cool Vendor” by Gartner in 2011. Recently named the 9th fastest growing privately held technology company, they continue to grow their team, knowledge and capabilities. Visit http://www.incontextsolutions.com.
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