UDEX, a world's leading provider of product data quality (PDQ) management software and services, announced the completion of an additional round of venture capital financing. The financing was led by 3i, a leading international private equity and venture capital firm, and included existing investors Montagu Private Equity and Northbridge Ventures. UDEX will use the funding primarily for its U.S. market penetration through expanded infrastructure, operations, sales and marketing efforts.
"Retailers and suppliers spend billions of dollars every year to address product data quality errors and to increase revenues," said Ali Erfan, partner with 3i and UDEX board member. "UDEX offers the world's only product data quality solution that provides trading partners with continuously accurate product data. As the company continues to build upon its success in Europe, we are delighted to support the team's US expansion through our global network."
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