Concord, Mass.—July 16 2012—Product cost management software solutions provider aPriori announced $5 million in new venture capital from existing investor Sigma Partners to expand its sales and services teams in Europe and accelerate development of its sales channel in the Asia/Pacific region.
The company will also continue to invest in the expansion of its product costing capabilities for expert cost engineers and sourcing personnel, and expand best practices within its professional services organization to help customers maximize value from their investments in aPriori.
“We’ve just completed a great year and we see tremendous opportunity in the US, European and Asia-Pacific marketplaces right now,” said Stephanie Feraday, President and Chief Executive Officer, aPriori. “This funding enables us to build on the success of the last two years to capitalize on these opportunities and make aPriori the product cost standard for discrete manufacturers.”
The company will also be funding and ramping a new supplier network initiative. It addresses strong demand from suppliers in the automotive, aerospace and industrial machinery industries for a costing solution that enables quick and accurate quote generation. These suppliers are looking to embed the aPriori quote generator within existing aPriori deployments at their major discrete manufacturing customers. This strategy helps suppliers respond more quickly to requests for quotes, scale their business and effectively establish themselves as the preferred vendor for future business.