Material Bank acquires Product Data Technology Company
New York, NY, March 17, 2022 (GLOBE NEWSWIRE) — Material Bank, the world’s largest marketplace for researching, sampling and specifying architectural, design and construction materials, today announced today acquired Amber Engine, a revolutionary software development company with a mission to democratize the product information management (PIM) space. This acquisition will expand the services Material Bank provides to its nearly 500 brand partners, alleviating some of the biggest problems in the design industry: the lack of standardized data, the disorganization due to the high number of SKUs and the overall complexity of configuration of materials and products.
The same way Material Bank modernized and simplified finding and sampling materials, Amber Engine will simplify the process of managing data and complex datasets in the design industry, empowering brands with better data.
This announcement comes at an industry inflection point that is ripe for disruption and just as Amber Engine releases its latest version of its software, which emphasizes simplicity, great usability, modern design and rapid return on investment. Amber Engine’s new next-generation PIM software has been designed to meet the needs of businesses ranging from small and medium-sized businesses to very large ones. The software is built around workflows that streamline the delivery of product data from all sources, allowing brands to scale more efficiently by easily preparing, optimizing and sharing product data from a centralized location. Businesses will no longer have to endure laborious manual data management to run multi-channel e-commerce, resulting in faster time to market with more accurate and better positioned data for sales.
Material Bank Founder and CEO, Adam I. Sandow, is a visionary who has built a forward-thinking company committed to delivering efficiencies in the design, architecture, and construction industries. To date, the company, listed as one of America’s Top Startup Employers, has raised a total of $157 million in funding. “Amber Engine offers best-in-class PIM technology, made even more powerful with its new next-generation PIM software,” Sandow said. “We look forward to investing in Amber Engine’s technology and expanding its capabilities globally. We believe we can bring substantial efficiencies to Material Bank partner brands by helping them be the first to transform and easily simplify the complex task of product data management.
Founded by Jennifer Gilbert, Amber Engine was a member of the Rock Family of Companies, along with dozens of other innovative companies such as Rocket Mortgage, Rock Ventures and StockX. As the company enters a new chapter with Material Bank, its commitment to “Every Customer. Everytime. No exceptions. No Apologies” remains in effect. Amber Engine, based in Detroit, MI, a city the company is committed to helping revitalize, will remain a separate platform within Material Bank, continuing to operate independently and led by its current CEO, Shah. Shafi.
“We couldn’t be more excited about this acquisition. Amber Engine is able to expand its mission of democratizing PIM technology while simultaneously providing Material Bank with new ways to serve its customers with greater impact,” said Gilbert. “I’m proud that Amber Engine is building on its deep support for small and medium-sized brands and manufacturers that form the backbone of the e-commerce industry, while expanding its footprint in the city of Detroit.”
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About the Material Bank
Material Bank is a marketplace for design professionals and brands in the architecture and design industry, offering the fastest and most powerful way to discover and sample materials. The revolutionary platform enables complex searches on hundreds of brands in seconds. Swatches ordered before midnight (ET) are delivered in a single box by 10:30 a.m. the next day, always free for design professionals. With a rapidly growing community of members, Material Bank is the easiest way for brands to connect with thousands of design professionals vetted in the specification process.
About Amber Engine
Amber Engine enables brands to succeed in multi-channel digital commerce through data innovation. The Detroit-based company helps brands sell more easily and profitably in popular online marketplaces and through physical retailers. The company is on a mission to democratize product information management (PIM).