River Cities Capital Funds is pleased to announce an investment in NineSigma, the leading provider of open innovation (OI) solutions to global corporations. River Cities co-led the $4.5 million dollar round with Blue Chip Ventures. The investment will be used to enhance NineSigma’s current services and capabilities, as well as support the company’s aggressive growth around the world. NineSigma is the third investment out of River Cities Fund IV.
Founded in 2000, NineSigma helps organizations accelerate their innovation cycle by connecting them with external solution providers that span multiple industries, geographies and technical disciplines. NineSigma helps companies leverage this growing network of more than 3 million solution providers to enhance their internal innovation resources and capabilities to solve innovation and business challenges.
“NineSigma's depth of experience in managing open innovation projects for Fortune 500 companies makes it the clear leader in connecting innovation-driven organizations with world-class external solution providers. The company’s proven business model and impressive management team have enabled NineSigma to gain significant traction with industry-leading clients worldwide and well positioned the company for future growth”, said Dan Fleming, managing director of River Cities and newly appointed NineSigma board member.
“We welcome the support of River Cities as we work to build upon the growing demand for open innovation services,” said Paul Stiros, president and chief executive officer of NineSigma. “This is an exciting time to be part of NineSigma, and the additional resources will support our ongoing expansion – in the U.S, and internationally – and allow us to complete development of several new product offerings. River Cities has shown a desire to be a true partner, and we plan to leverage their knowledge and experience as we move the company forward.”