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April - 2015 - issue > Venture Chakra
Camden Partners leads $22.5 Million Round for Steelwedge
SI Team
Wednesday, April 1, 2015
Steelwedge, the leader in cloud supply chain planning and sales and operations planning (S&OP) solutions, today announced that it has received $22.5 million in new growth capital led by Camden Partners. Other investors include return backer
Mainsail Partners and Shea Ventures. The investment will be used to accelerate product development, expand sales and marketing, and deliver the highest
quality service to the company's growing customer base. Integral to these efforts
is a new office, which will soon open in Austin, TX later this year.
'This new capital positions us well to build on the company's incredible growth over the past several years," said Pervinder Johar, CEO of Steelwedge. "We are excited to have Jason Tagler join the board of directors and to leverage his experience investing in enterprise SaaS businesses.." Jason is managing member
of Camden Partner, the lead investor.
The Austin office will serve as a technology,sales, and services hub that will enable Steelwedge to better serve the increasing number of customers and
prospects in the region. The office will house a large, state-of-the-art R&D Co-Innovation Lab where product managers and software engineers will work directly
with customers to push the boundaries of supply chain management forward.
Steelwedge was ranked #200 on Deloitte's Technology Fast 500 in 2014 and was positioned as Visionary in the Gartner Magic Quadrant for Supply Chain Planning System of Record. In the past two years the company has added some of the biggest names in manufacturing as customers, including GoPro, Hewlett Packard, and Nissan.
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