MicroD Gets Investment From Armory Capital
Posted on September 22, 2016 by
CHARLOTTE, N.C.-MicroD, the e-commerce solutions provider for the home furnishings industry, has received an investment from Armory Capital, a family firm that invests in private businesses.
Terms of the transaction were not disclosed in a statement from both companies. The MicroD senior management team remains unchanged. Manoj Nigam, MicroD’s president and CEO, will add the role of chairman of the board, while Mona Nigam continues to serve as executive vice president.
The global technology provider plans to use the Armory investment to bolster its solutions development and customer service programs. Armory’s “support will empower us to immediately accelerate further development and enhancement of our industry-renowned e-commerce, visualization and electronic data interchange solutions,” Manoj Nigam said. “The investment will also enable us to aggressively innovate around 3D product presentations, virtual reality, and other leading-edge technologies to expand our solutions portfolio and help our retail and manufacturing customer base to meet the fast-changing needs and expectations of today’s consumers.”
“MicroD has a deep history of innovation and market leadership that serves as an outstanding platform for continued future growth,” said Jacob Ambrose, Armory’s managing partner. “We look forward to supporting the MicroD management team as they execute on key growth initiatives to help their customers better connect and engage with consumers in today’s always-on omnichannel business environment.”