Ryma Raises Series B

Ryma Technology Solutions, a Montreal-based provider of product management solutions for software developers, has raised C$7 million in Series B funding. iNovia Capital led the round, and was joined by return backer Novacap.


Ryma Technology Solutions, the definitive authority and enabler of comprehensive Product Management Solutions, today announced the closing of a Series B round of venture capital financing. iNovia Capital, a new investment partner, led the $7 Million financing round and was joined by returning investment partner Novacap.

Ryma's Product Management Solution provides enterprises with a unique adaptive ecosystem to assess, improve and advance their current product management process maturity level and create the roadmap for achieving Business Excellence. Ryma solutions empower enterprises to anticipate market needs, cultivate business opportunities and deliver innovative products for sustained market leadership.

Executives need access to real-time information to rapidly make fact-based decisions and enable a more innovative enterprise. Ryma's Product Management Solutions enable executives to 'Manage the Big Picture' with a high-level view across the complete product portfolio, which facilitates their ability to minimize risk by anticipating emerging market needs and fuelling product innovation for a sustained return on product investments.

According to Rene Bellei, President and CEO of Ryma Technology Solutions, the timing of the venture funding aligns with the industry growth curve for migrating to an all encompassing proactive Product Management Solution. “Ryma will use funding to further accelerate the development and commercialization momentum of our next-generation Product Management Solutions — strategically designed to help transition enterprises from reactive product management communities to proactive industry leaders that deliver innovative products in stride with continuously evolving market demands.”

“Ryma's strong management team impressed us by constantly exceeding both customer and shareholder expectations,” said Josko Bobanovic, Principal with iNovia Capital. “We believe the Company is poised for exponential growth and is well positioned to play a leading role within new segments of the enterprise software market.”

“Novacap is pleased to renew our investment relationship with Ryma. We were drawn by Ryma's industry-shaping thought leadership and superior technology platform which forms the vanguard of the next-generation Product Management Solutions.” Pascal Tremblay, of Novacap, continued to say, “We share Ryma's insight that The Holy Grail in today's competitive environment is helping enterprises drive innovative product releases to achieve a sustained return on product investment.”

About Ryma Technology Solutions

Ryma Technology Solutions develops and enables industry-leading Integrated Product Management Solutions that transition enterprises from a reactive product management organization to the proactive industry leaders that deliver innovative products in stride with continuously evolving market demands.

Our solutions bridge the gap between business strategy and the essential elements of people, process and technology and empower enterprises to anticipate market demands, cultivate business opportunities and deliver innovative products to achieve a sustained return on product investment. Leading product and services organizations around the world have adopted and deployed FeaturePlan as their end-to-end Product Management Solution of choice. Ryma Technology Solutions is headquartered in Montreal, Canada and serves a growing customer base of most prestigious enterprises that includes Reuters, Autodesk and Trend Micro. For more information visit: www.rymatech.com

About Novacap

Novacap is one of Canada's leading private equity firms. Since 1981, our partnership approach has helped companies accelerate their growth and maximize their value.

At Novacap, it's about more than just an investment; it's about building world-class companies. Our highly-experienced, multifunctional team understands the operational and financial challenges faced by today's organizations. We provide active support; deep operational expertise and growth capital to help companies with strategic competitive advantages realize their full potential. For more information visit our web site at: www.novacap.ca

About iNovia

iNovia Capital manages seed and early stage venture capital funds, with a focus on helping entrepreneurs and innovators build successful companies in the information technology, life sciences and cleantech sectors. iNovia Capital's value-added approach to early stage investing provides portfolio companies with capital, unique access to intellectual property from its partner academic institutions and an extensive network of industry partners, advisors and sector-specific co-investors. For more information see www.inoviacapital.com