FusionOps Raises $25 Million in Series C Funding
FusionOps, the provider of the Supply Chain Intelligence Cloud, has secured $25 million in Series C funding from new and existing investors.
The Series C round was led by Georgian Partners with participation from existing FusionOps investors including New Enterprise Associates (NEA) and Prabhu Goel, chairman of FusionOps.
The new funding will be used to execute on the company’s long-term growth plans, which include extending its cloud platform innovations and expanding sales operations worldwide. This new round of funding brings total financing to $44 million since the company was founded.
“FusionOps has rapidly become the trusted source for supply chain intelligence to enable our customers’ success,” said Gary Meyers, CEO of FusionOps. “This round of funding is a testament to our accomplishments to date, and our vision going forward.”
“FusionOps is the leader for supply chain intelligence for a very good reason,” said Tyson Baber, Principal, Georgian Partners. “We find that the most successful companies leverage three key capabilities: deep domain knowledge around a business process; exploitation of big data platforms, and the information rights to use relevant data. FusionOps is executing across all three. We look forward to being part of the company’s ongoing growth and success.“
The new financing follows a year of strong performance across the board for FusionOps with annual recurring revenue up 2.5 times for 2015 over 2014. FusionOps users grew 79 percent last year and platform usage soared 123 percent. The company continued to advance its solution with new supply chain content areas, predictive analytics capabilities, new integration interfaces, new vertical market solutions for retail and pharmaceuticals, and integrations with leading enterprise software systems.
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