Inriver has appointed a new CEO steeped in B2B enterprise software experience to guide its growth in the robust market for product information management software, a critical technology in the booming world of B2B and retail ecommerce, the company announced today.

Niels Stenfeldt, CEO, inriver

Niels Stenfeldt, a former CEO of data management company Stibo Systems, took over as inriver’s CEO on Sept. 1, succeeding Thomas Zanzinger.

“An experienced chief executive with deep domain and industry expertise in product data technologies, Stenfeldt will lead inriver in its next phase of global growth and capture the significant market opportunity for the PIM industry as a whole,” inriver said in announcing Stenfeldt’s appointment.

A surging PIM market

Inriver serves more than 700 customers involved in B2B and retail digital commerce, including cable manufacturer Prysmian Group and consumer brand New Balance. The global market for PIM software will nearly double to $23.8 billion from $12.2 billion in 2022, according to a forecast by research firm MarketandMarkets Inc.

In an interview, Stenfeldt said he sees growth ahead for inriver as it helps manufacturers and other businesses manage product information across complex global markets and analyze how targeted customers are responding to that content and generating revenue.

Companies “need to be able to articulate what their product is all about” as they push product data through different channels and as the amount of product attributes continues to grow through customization, he said. “As you enrich your product with more customization … you need to create a digital twin of that manufactured product.”

He adds that selling through multiple channels also requires companies to accommodate data formats that can vary among channels.

“You need to be able to watch the content out in the right channel with the right format with the right story,” he said.

Managing data across complex supply chains

Moreover, he said, as new industries emerge with complex supply chains — such as electric vehicles and other “environmentally friendly” products, which will come with new standardized data taxonomies — PIM technology will play a crucial role in ensuring that accurate data useful for commerce extends through supply chains.

Stenfeldt is taking the top job at inriver shortly after the company secured a capital investment valued at about $400 million from private equity firm Thomas H. Lee Partners, or THL. Inriver says it will use those funds to continue developing its PIM products and expand its market presence in North America and Europe.

Early last year, inriver acquired Detail Online, a provider of technology designed to help companies distribute online content that fosters commerce, and incorporated it into inriver’s software suite.

Stenfeldt declined to comment on any additional acquisitions that might be in inriver’s future, but added: “Generally, I would say I’m always looking at how I can increase my technology footprint.”

“Niels brings valuable understanding of customer needs and go-to-market strategies, and I have the highest confidence that he will help drive the company to new levels of success, accelerating growth globally while continuing to provide excellent software and services to our customers and external partners,” says Zanzinger, who remains as a senior advisor to inriver and its boards of directors.

Stenfeldt most recently was CEO of Stibo Systems, a provider of master data management technology to the global market. Prior to Stibo, Stenfeldt led a global growth strategy as the head of worldwide sales and services for Esko, a provider of software for designing commercial packaging and marketing content. He has also been an executive at business software companies including Oracle Corp., SAP SE, OpenText, and Evenex. (Evenex has since been acquired by HighJump Software, which is now part of supply chain software company Korber AG.) Stenfeldt currently serves as chairman of the board of directors for Boyum IT Solutions and has been a member of inriver’s board since July.

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