Leading Independent Metals Marketplace Raises $30 Million to Fuel Continued Growth, Innovation
ATLANTA, May 30, 2024 /PRNewswire/ — Reibus International, Inc., the leading independent metals marketplace, today announced the appointment of Jared Rowe as its new Chief Executive Officer (CEO) and Chairman of the Board. Rowe brings over two decades of executive experience in the technology and marketplace sectors and will advance Reibus’ mission to revolutionize the industrial materials supply chain. The company also announced $30 million in new funding in a combination of equity and debt from existing investors, including Canaan and Nosara, with HSBC as its banking partner, to fuel its next phase of growth and innovation.
“We’re thrilled to have Jared join us as CEO of Reibus, and we’re excited about the future,” said Hrach Simonian, general partner at Canaan. “This investment marks an exciting new chapter, and we are eager to support Reibus’ continued growth and innovation. We believe the company is well-positioned to deliver exceptional value to the metals industry.”
Rowe’s track record of transformative leadership and operational excellence within technology and marketplace sectors positions him as the ideal leader for Reibus. Rowe’s background includes key leadership roles at AutoWeb, YP.com, Cox Automotive, and FordDirect, where he successfully spearheaded numerous digital transformation projects and marketplace expansions. His deep expertise in building and scaling technology-driven platforms makes him the ideal candidate to lead Reibus in this next chapter.
“I am honored to join Reibus at such a pivotal time in its growth journey. The steel industry is an important and vibrant part of the US economy. At Reibus, we are focused on helping buyers and sellers of steel, and other selected industrial metals, be more efficient and effective, while also increasing profitability,” said Jared Rowe, CEO of Reibus. “It’s our clients’ needs that drive our investments to enhance our technology and streamline operations. It’s through these strong partnerships that our talented team at Reibus will activate the full potential of an integrated, independent, and highly active marketplace at scale for the steel and industrial metals industry.”
$30 Million in New Financing for Strategic Growth
In addition to Rowe’s appointment as CEO, Reibus recently secured $30 million in new financing. This investment will be instrumental in enhancing the proprietary platform, expanding product offerings, and renewing the focus on delivering exceptional service and reliability to customers in North America. With this funding, Reibus is committed to meeting and exceeding customer needs through continued innovation and dedicated support.
About Reibus
Reibus is the leading independent technology platform transforming the procurement and sale of industrial materials in North America. Leveraging deep industry expertise and advanced technology, Reibus enhances supply chain efficiency, transparency, and reliability. Our marketplace simplifies complex procurement processes by offering real-time data, analytics, and logistics support, significantly reducing lead times and inventory costs for thousands of buyers, suppliers, and service centers across North America. For more information, visit reibus.com.
Contact:
Hannah Copeland
hcopeland@reibus.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/reibus-welcomes-jared-rowe-as-new-ceo-and-chairman-of-the-board-302159659.html
SOURCE Reibus
