Reibus raises $30 million and names Jared Rowe as CEO

Reibus, a leading independent metals marketplace, has announced the appointment of Jared Rowe as its new Chief Executive Officer (CEO) and Chairman of the Board. The company also revealed a new $30 million round of financing.

Funding news

Reibus announced $30 million in new financing in a combination of equity and debt from existing investors including Canaan and Nosara, with HSBC as banking partner, to power the next phase of growth and innovation.

This investment will be critical to enhancing the proprietary platform, expanding product offerings and refocusing on delivering exceptional service and reliability to customers in North America. With this round of financing, Reibus is committed to meeting and exceeding customer needs through continuous innovation and dedicated support.

Jared Rowe

Rowe has over two decades of leadership experience in the technology and market sectors and will support Reibus’ mission to revolutionize the industrial materials supply chain.

Rowe has solid transformational leadership and operational expertise in the technology and market sectors, positioning him as the ideal leader for Reibus. Rowe’s experience includes key leadership positions at AutoWeb, YP.com, Cox Automotive and FordDirect, where he successfully led numerous digital transformation and market expansion projects. His deep experience in building and scaling technology-enabled platforms makes him the perfect candidate to lead Reibus in its next chapter.

KEY QUOTES:

“We are thrilled to have Jared join us as CEO of Reibus and look forward to the future. This investment marks an exciting new chapter and we are keen to support Reibus’ continued growth and innovation. We believe the company is well-positioned to deliver exceptional value to the metals industry.”

• Count Simonian, general partner in Canaan

“I am honored to join Reibus at such a pivotal time in its development. The steel industry is an important and vibrant part of the American economy. At Reibus, we are focused on helping buyers and sellers of steel and other selected industrial metals become more efficient and effective, while increasing profitability. It is the needs of our customers that motivate us to invest in improving our technology and streamlining operations. It is through these strong partnerships that our talented team at Reibus will unlock the full potential of an integrated, independent and highly active large-scale market for the steel and industrial metals industry.

• Jared Rowe, CEO of Reibus