Vivecon raises $11 million to expand operations, accelerate product development
Mountain View, CA — September 1, 2004 — Supply chain risk management specialist Vivecon Corp. has secured an additional $11 million in funding, bringing the total equity investment in the company to more than $25 million.
Vivecon said its will use the new capital to expand operations, including launching new sales and marketing initiatives and accelerating product development.
This new round of funding was led by TPG Ventures and included existing investors Benchmark Capital, Foundation Capital and Technology Partners. Vivecon also announced that Bill McGlashan, managing director at TPG Ventures, has joined Vivecon's board of directors.
"TPG Ventures has invested in Vivecon because its solutions completely revolutionize companies' abilities to manage supply chain risk," said McGlashan of TPG Ventures. "For the first time, organizations are able to quantify and manage supply chain risk and dramatically improve overall performance by preventing costly supply glitches and disruptions."
Vivecon's solutions have been adopted by leading automotive, consumer packaged goods and technology manufacturers in pilot projects and full production deployments. Vivecon said that its customers who have already realized gains include two German automotive makers, a U.S.-based cosmetics company and a global computer electronics firm.
"Over the past two years Vivecon's software has demonstrated dramatic results at some of the world's largest companies," said George Devlin, Vivecon's chairman and CEO. "The capital we've taken on will allow us to scale our sales, marketing and engineering effort to ensure Vivecon remains the leading provider of supply chain risk management solutions."
Devlin said that the provider's solutions help customers achieve greater predictability in their supply chains, which translates to lower total sourcing costs, improved supply availability and stronger relationships with customer and suppliers. "For many customers, this equates to tens of millions of dollars annually in increased profitability," Devlin asserted.
Based in Silicon Valley, Vivecon was founded in 2000 by several graduates of Stanford University's Management Sciences Doctorate program. The company's approach applies stochastic processes and "real options theory" to quantify and manage supply chain risk and uncertainty. Vivecon says its solutions enable companies to create agreements with suppliers based on optimal trade-offs between price, liabilities and availability, helping ensure a flexible, risk-tolerant supply network with reductions in total sourcing cost.
Mountain View, CA — September 1, 2004 — Supply chain risk management specialist Vivecon Corp. has secured an additional $11 million in funding, bringing the total equity investment in the company to more than $25 million.
Vivecon said its will use the new capital to expand operations, including launching new sales and marketing initiatives and accelerating product development.
This new round of funding was led by TPG Ventures and included existing investors Benchmark Capital, Foundation Capital and Technology Partners. Vivecon also announced that Bill McGlashan, managing director at TPG Ventures, has joined Vivecon's board of directors.
"TPG Ventures has invested in Vivecon because its solutions completely revolutionize companies' abilities to manage supply chain risk," said McGlashan of TPG Ventures. "For the first time, organizations are able to quantify and manage supply chain risk and dramatically improve overall performance by preventing costly supply glitches and disruptions."
Vivecon's solutions have been adopted by leading automotive, consumer packaged goods and technology manufacturers in pilot projects and full production deployments. Vivecon said that its customers who have already realized gains include two German automotive makers, a U.S.-based cosmetics company and a global computer electronics firm.
"Over the past two years Vivecon's software has demonstrated dramatic results at some of the world's largest companies," said George Devlin, Vivecon's chairman and CEO. "The capital we've taken on will allow us to scale our sales, marketing and engineering effort to ensure Vivecon remains the leading provider of supply chain risk management solutions."
Devlin said that the provider's solutions help customers achieve greater predictability in their supply chains, which translates to lower total sourcing costs, improved supply availability and stronger relationships with customer and suppliers. "For many customers, this equates to tens of millions of dollars annually in increased profitability," Devlin asserted.
Based in Silicon Valley, Vivecon was founded in 2000 by several graduates of Stanford University's Management Sciences Doctorate program. The company's approach applies stochastic processes and "real options theory" to quantify and manage supply chain risk and uncertainty. Vivecon says its solutions enable companies to create agreements with suppliers based on optimal trade-offs between price, liabilities and availability, helping ensure a flexible, risk-tolerant supply network with reductions in total sourcing cost.
