Plymouth Venture Partners Invest In Chicago Virtual Simulation Firm
ANN ARBOR — Plymouth Management Co. Tuesday announced its seventh investment from Plymouth Venture Partners Fund II (“PVP II”), leading a multi-million dollar Series C round in InContext Solutions of Chicago.
InContext provides Web-based virtual simulation technology for concept visualization and research.
By combining the power of sophisticated 3D simulations with the speed and flexibility of the Web, they have created a uniquely scalable virtual store technology that provides clients with the ability to ideate and evaluate product, marketing and store concepts within a single collaborative platform, and at a significant reduction in time and cost in relation to traditional methods.
InContext’s client list consists of various Fortune 500 consumer packaged goods, consumer electronics, technology, restaurant and retail corporations. The company’s superior Web-based 3D technology, along with its ability to access research participants across the globe online, make its offerings unique.
Plymouth officials said they were attracted to InContext due to its leading edge 3D and on-line technology, strong management team, the traction with major consumer manufacturing and retail companies throughout the U.S. and internationally, and the rapidly growing market in which it operates.
“InContext Solutions has developed a unique, feature rich product that is experiencing growing demand,” Plymouth Management CEO Mark Horne said. “The consumer behavior and market research industry’s move to virtual simulation tools is expected to be a large driver in pushing customers to InContext’s technology.”
Addd InContext vice chairman and CEO Mark Hardy: “The financing round they (Plymouth) led will make it possible to fully deploy our strategy, allowing us to expand our service and product offerings to better address the expanding customer needs in the rapidly growing market for virtual simulation within customer marketing and research.”
Plymouth Management partner Jeff Barry will take a bBoard seat with the company and assist InContext in achieving further growth.
Plymouth Venture Partners Fund II is a follow-on fund to Plymouth Venture Partners Fund I. PVP I became fully invested in 2009 after completing investments in 29 companies. Plymouth Venture Partners II invests in growth stage companies in the Great Lakes region. For more information, please visit www.plymouthvc.com.