Los Angeles August 21, 2002 Supply chain solution provider Adexa reported this week that it had closed venture financing for $15 million, with new investor Wasserstein Venture Capital leading the round.
Additional new investors BEV Capital and Mitsubishi joined previous investors Sutter Hill Ventures, Information Technology Ventures, J & W Seligman and DRW Venture Partners LP in this latest funding round. Townsend Ziebold, president of Wasserstein Venture Capital and Marc Singer, partner with BEV Capital, will join Adexa's board of directors.
Founded in 1994, Adexa offers what it calls an "enterprise global planning system" (eGPS), a modular set of solutions that the provider said allows companies to develop, adapt, collaborate and optimize financial, operational and supply chain plans in real-time by identifying and aligning financial strategies with operational execution.
Adexa said the new funding is going to allow the company to expand its product development and manufacturing teams and focus on additional applications of its technology.
In addition to the new funding, Adexa has recently brought in new members of its management team, including Chief Operating Officer Dan Stoks, formerly of Manugistics and Oracle, as well as sales staff hailing from Manugistics, Oracle and i2.