Supply chain design specialist looks to expand business development globally, with focus on European growth
Boston — December 17, 2003 — Supply chain design specialist Optiant has banked an additional $5 million from new investor LogiSpring, supporting the company's entry into Europe and bringing the total raised in 2003 to $15.5 million.
Optiant said it would use the additional investment to expand business development globally and further the company's position in the supply chain optimization market. The company believes its suite of supply chain design solutions is well positioned to support a global manufacturing shift toward using the supply chain to drive top business goals, such as growing profits, creating agile global operations, improving customer service and lowering costs.
Customers for Optiant's solutions include enterprises in the electronics, consumer goods and industrial equipment segments.
"There is a groundswell of evidence — from experts and manufacturers alike — that companies with best-in-class supply chains dominate their markets and consistently capitalize on the complexity and uncertainty inherent to the industry," said Dan Ross, president and CEO of Optiant, in asserting that the new investment was an endorsement of the solution provider's vision and ability to deliver value to its customers.
"Optiant has catapulted to the top of its sector by focusing on supply chain strategies that drive market leadership, not just improve efficiency," said Frans van Schaik, LogiSpring managing partner. Van Schaik added that Optiant's base of U.S. customers and its management team should provide a good foundation for continued growth.
LogiSpring joins current Optiant investors Castile Ventures and Battery Ventures. The Geneva-based firm is focused solely on supply chain investments. Frans van Schaik will join Optiant's board of directors and support business development and partnership efforts.