RPI Raises $5M More from Riverlake Partners, Huntington Capital
Tukwila, WA-based digital-to-physical media company RPI has raised an additional $5 million financing round led by Portland, OR-based Riverlake Partners, with participation from its previous investor, San Diego-based Huntington Capital, the company said today.
RPI has quite an interesting story. One of the few veteran mid-sized companies left in the Seattle area, RPI has been profitable since 1979. How’d they do it? By making actual physical stuff for their customers. In an age when digital media is reigning supreme, RPI has found a niche printing things—like photo books, greeting cards, invitations, calendars, notebooks, posters, and other custom-designed products—for people who want to preserve their digitally-captured memories in a tangible, tactile way.
This second round of financing comes just four months after RPI raised its first major funding round—a $5 million financing led by Huntington. The company says it will use the additional funds to “accelerate its strategic growth plan,” enabling the company to solidify its position in the growing consumer personalized product space. As part of the deal, Riverlake representative Victor Petroff has been appointed RPI’s chairman of the board.
“RPI has successfully reinvented itself by focusing exclusively on the personalized make-on-demand printed products market, and we believe this important differentiator sets it apart from other manufacturing and fulfillment companies,” Petroff said in a statement. “RPI already partners with top-tier retailers representing more than 40 percent of the total U.S. market for photo products.”