Digital River announced it has raised $50 million in incremental funding, the Minneapolis-based company said in a press release. Led by Siris Capital Group, LLC, and “several of [the company’s] existing co-investors,” the funding will be used to continue the development of the company’s modular service and support potential acquisitions, the release said.
“Digital River’s success over the past few years in modularizing its solution and building a growing partner ecosystem demonstrates that it is well-positioned to help companies build a robust, global ecommerce solution that is customized for each business’ unique needs,” Dan Moloney, executive partner at Siris and executive chairman of Digital River’s Board of Directors, said in the release. “Siris is excited to continue partnering with the Digital River team to support its vision of helping brands successfully sell into markets worldwide.”
The funding benchmark comes hot off the hire of a new CFO last month and a transition to a “headless” service approach last summer.
