Minneapolis B2B ecommerce firm has Insite

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“We are the next Digital River,” Insite Software CEO Brian Strojny asserts, referring to the local e-commerce company that went public in 1998, although has declined in value by 75% since 2007.

Together with partner Linda Taddonio, Strojny started Insite Consulting Group in 1999 as an e-commerce consulting firm for business-to-business (B2B) customers.  It was through that niche that Insite Software would emerge 5 years later as productized B2B SaaS platform with third owner Tom Frishberg on board as CIO.

“We’re locally grown and organically funded,” Strojny points out, explaining how the early revenues they parlayed into the development their flagship InsiteCommerce platform was a four year process from start to finish.

“There was no solution so we began to create it,” he says, reflecting on their transformation.

The Insite Software of today has over 900 customers worldwide in mid+ market ($100m up to $1b) manufacturers and distributors using their SaaS platform for enterprise resource planning (ERP), customer relationship management (CRM), content management systems (CMS), accounting, and other back-end systems.

“We automate more orders in and more fulfilled at the end of the day,” he summarize.

The company maintains 70 employees in their Warehouse District HQ, a number he expects to grow another 10%+ this year.  Reluctant to disclose current revenue figures, Strojny sees “a $100m market opportunity in the coming years.” The former CEO of Jobs2Web, Ken Holec, joined the board of directors with CRO Stephen Shaffer in February.

“We’ve identified a large opportunity for Insite to become the global leader in B2B e-commerce.  The major players (SAP, Oracle, IBM) are leaving a lot of gaps and poor user experiences. The demand is definitely there for us…Forrester Research suggests that B2B e-commerce is poised to reach $559b by the end of 2013.”

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