In addition to his role at RRE, Mr. Robinson is former Chairman and Chief Executive Officer of American Express Company, and is non-executive Chairman of Bristol-Myers Squibb Company. He is also on the Board of Coca-Cola Company, First Data Corporation and Novell, Inc.
"Based on our extensive experience in the capital markets and working with Global 2000 organizations, RRE believes supply chain finance is a key driver of shareholder value," said Robinson. "PrimeRevenue has established a leadership position in helping these organizations realize the benefits of supply chain integration and finance."
Proceeds from the investment will be used to accelerate its growth within the supply chain finance market, with particular focus on expanding its reach into the Global 2000.
"We are extremely pleased to welcome Mr. Robinson to our Board of Directors," said Joseph Juliano, CEO, PrimeRevenue. "His strategic and innovative leadership for Fortune 500 companies and his extensive financial services experience provides strong validation for the supply chain finance market as well as PrimeRevenueâs leadership position."
"We continue to be impressed with PrimeRevenue's success in the supply chain finance market," said Roger Lee, general partner with Battery Ventures. "Working hand-in-hand with the management team, we have consistently seen the key elements that have led to their market leadership: vision, technical excellence, value creation, and a commitment to customers. Today's news bolsters the Company's position, and will help fuel its rapid growth."
PrimeRevenueâs supply chain finance platform and associated services connect trading partners with financial institutions, allowing the entire supply chain to generate immediate financial gains, including improvements which help organizations do more business with less working capital while lowering costs.