The two organizations did not announce the size of the investment, although it was reported on a Forbes financial blog to be as much as $65 million.
"Our strong revenue growth and sharp increase in deal size over the past several years show that Global Trade Management has become a mainstream application," said Jim Preuninger, CEO of Management Dynamics. "We plan to use the funds from Goldman to make a strategic acquisition to expand our product portfolio and further distance ourselves from the competition."
As global trade volumes increase, organizations are looking for ways to reduce global supply chain costs and shorten cycle times. Management Dynamics said its solutions simplify the financing, sourcing and transporting of goods across international borders. Its software automates import and export processes, provides global order and shipment visibility, calculates duties, tariffs and taxes, and ensures regulatory compliance.
"Collectively, companies have already spent billions of dollars improving processes and deploying technologies to optimize their domestic supply chains," said Yoon. "Senior executives are now realizing the opportunity for cost savings and competitive advantage in the global supply chain. With many of the largest companies in the world using its software today, Management Dynamics is well positioned to take advantage of this opportunity. We believe Management Dynamics is an excellent investment."