Plymouth Ventures III Makes 2nd Investment
lymouth Ventures today announced that it has made its second investment out of Plymouth Venture Partners III, which had its final closing at the end of June. The investment was made into the Chicago-based 3D virtual simulation technology company InContext Solutions as part of a $12+ million Series D round. The round was led by Beringea LLC and involved follow-on investments from Plymouth Venture Partners II and Hyde Park Venture Partners.
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™, 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.
“We are pleased to continue to support InContext, and make it our second investment out of PVP III. They have had a great roll out of ShopperMX ,” Plymouth Managing Partner Mark Horne commented. “We believe the company has the right management team and product in place to address its large addressable market. The size of the round InContext was able to attract is a strong indication of the significant market opportunity in front of the company.”
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.
InContext has been recognized by Forbes as one of “America’s Most Promising Companies,” and as a “Cool Vendor” by Gartner.
Plymouth Venture Partners III made its first investment in Certified Security Solutions, the Cleveland-based information security company that specializes in Identity and Access Management solutions.
About Plymouth Ventures
Plymouth Ventures is the manager for Plymouth Venture Partners I, Plymouth Venture Partners II, and Plymouth Venture Partners III. The company has four partners, Mark Horne, Jeff Barry, Kevin Terrasi, and Evan Ufer. Plymouth was founded by Ian Bund who remains active as a Senior Advisor. The firm is headquartered in Ann Arbor, Michigan. For more information, please visit www.plymouthvc.com.
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 www.incontextsolutions.com