AMSTERDAM, THE NETHERLANDS--(Marketwired - Apr 30, 2014) - The market for on-demand cloud-based brand management and marketing asset management (MAM) tools is gaining momentum, and Bynder is staking its claim in the United States through the acquisition of Boston-based LumaCloud. Bynder's clientele already includes major international brands such as KLM, Volkswagen, Scotch & Soda, Ingersoll Rand and Bacardi, but will soon include additional high profile brands.
Still Just a Team of Developers
"Everyone on our team is still primarily a Web developer. We're really focused on adopting new and scalable Web technology, but we're also incredibly passionate about UX and design. We try to get users to really want to use our services," says Chris Hall, founder and CEO of Bynder. "Because of our developer roots and our passion for Web tools, we've been one of the first to offer a truly scalable, turnkey cloud-based MAM solution."
Bigger Footprint in the U.S.
Kristof Vereenooghe, LumaCloud's founder, who will be spearheading the operations from Boston, stated: "We've been implementing parts of the Bynder platform with our customers for some time now. We've been very impressed by the depth of the Bynder proposition and especially the speed and quality of development of the product. With the local presence we have in the U.S., we're poised to gain even more traction here too."
Extra Rocket Fuel
CNBB Venture Partners, based in Rotterdam, is backing the deal with a mix of cash and equity. Valuation levels are around $20 million, and recurring revenues have grown to multimillions. Arco van Nieuwland and Lucas Brentjens, partners of CNBB, ex-partners of Exact Software and founders of Yuki.nl, will be joining the advisory board of Bynder.
"Besides all the tangible benefits of this deal, it's great to have this significant amount of experience to fall back on. It's very motivating and reassuring to have Kristof, Arco and Lucas on board, all veterans in growing companies towards -- and beyond -- IPO stage. The financial backing from CNBB is really our extra rocket fuel," said ex-TomTom manager Robbert Flipsen, who will remain the operational lead for Bynder's Amsterdam headquarters.
Bynder is the world's most user-friendly brand portal, and a leader in eCommerce DAM solutions. Currently the team consists of 36 full-time employees, spread out between offices in Amsterdam, Rotterdam and now Boston. With over 150 enterprise portals and more than 50,000 users in 45 countries, Bynder is a Deloitte Fast50 company with more than 200 percent year-on-year growth. Bynder is completely cloud-based, with the potential of a private cloud setup and extensive customization and integration.
LumaCloud LLC is an integrated marketing asset management platform that allows you to address all your marketing needs when it comes to printed collateral, email communication, social media, merchandising and digital asset management. Employing a great team of passionate people, Luma serves many of the world's most dynamic brands and businesses, including well-known names such as Ingersoll Rand, SkinMedica/Allergan, Bacardi-Martini, and many others.
CNBB Venture Partners is an independent venture capital fund that supports entrepreneurs in realizing their growth ambitions by providing capital and strategic support. Owners Arco van Nieuwland (co-founder of Exact software) and Lucas Brentjens (ex-CEO of Exact Software) also manage several other companies and founded The Yuki Company.