New Funding for Optiant

Second round nets $10.5 million for provider of supply chain design solutions

Boston — March 12, 2003 — Optiant, a provider of supply chain design solutions, has secured $10.5 million in its second round of funding.

Castile Ventures, a new investor, and Battery Ventures, which also backed Optiant's first round, participated in this Series B round.

The investment comes on the heels of a year of milestones for Optiant, which has won major accounts in the electronics, industrial manufacturing and consumer goods markets. Its software is designed to help companies manage supply chains as strategic assets.

"Optiant has a solid foundation for market leadership: a growing base of satisfied customers and partners, a strong management team and technology innovation," said Marcia Hooper, general partner at Castile, which specializes in technology investments and is based in Waltham, Mass.

Optiant helped pioneer the supply chain design market, giving manufacturers new ability to leverage the supply chain for business benefit. "We entered this market with the vision to take supply chains to the next level, from barebones execution to becoming a strategic weapon that directly supports business goals, like profitability, customer satisfaction and time-to-market," said Dan Ross, president and CEO of Optiant.

Companies using Optiant's solution include CNH, Kodak and Imation. Most recently, the company signed several partners in the network design and logistics space.