Mesa, AZ — April 24, 2003 — Two supply chain solution providers have picked up new funding, with Demantra scoring $16 million and Arzoon bringing in $10 million in venture funding.
Cambridge, Mass.-based Demantra provides demand-driven supply chain solutions for marketing planning and analytics, demand management, and inventory planning and optimization to such customers as Hunter Douglas, Dal-Tile, Unilever and McCain Foods.
The company has raised $16 million in Series B funding led by Advent International, a Boston-based private equity firm. Agribusiness giant Cargill, another Demantra customer, also invested in this latest round. Existing investors participating in this round include Formula Ventures, The Challenge Funds, Intel Capital and Paul Baan's Stichting Stewardship Foundation.
According to the solution provider, Demantra will use this round of financing for operating capital, to further expand the company's marketing and sales initiatives, and to continue to extend its marketing and supply chain planning solutions.
"In addition, Demantra is now well positioned to pursue synergistic opportunities and partnerships in the supply chain space," the provider added in a statement.
In 2002, Demantra saw 50 percent growth in year-over-year revenue and achieved profitability in both the third and fourth quarters of 2002, according to the provider. After bolstering its direct sales channel and driving direct sales to 58 percent of total revenue in 2002, Demantra added 28 new customers, bringing its total number of customers to more than 130 installations worldwide.
Meanwhile, San Mateo, Calif.-based Arzoon, a provider of international trade logistics and transportation management software, has completed a $10 million round of financing led by Redrock Ventures and InnoCal Venture Capital, together with participation by existing investors, including Venrock Associates.
Arzoon said it has integrated international trade logistics with multi-modal transportation management to provide a holistic view of the supply chain and to facilitate the movement of international shipments, from raw materials to finished goods. The company's software can help companies in meeting new U.S. Customs requirements for tracking and monitoring the status of all international shipments, according to the provider.
Farid Dibachi, chairman and CEO at Arzoon, attributed some of the provider's recent success to developments in international affairs. "The geopolitical issues of the last few years have created unprecedented challenges for global shippers and increased demand for logistics software," Dibachi said. "The latest round of financing from new and existing investors further validates the strength of our business strategy and importance of our software in ensuring the safety and security of global supply chains."
