FusionOps raises $12m in series B funding
April 2, 2015
California-based FusionOps, a ten-year-old provider of cloud applications for supply chain analytics, has raised $12m in series B financing led by New Enterprise Associates (NEA), with participation from its series A investors.
This brings FusionOps’ total financing to $19m since the founding of the company. The funding will be used to accelerate development and global expansion.
“The Fortune 1000 are innovating faster than ever, placing a greater emphasis on global supply chains to keep up with the rapidly evolving needs of customers,” said Gary Meyers, president and CEO of FusionOps. “This investment allows us to expand our customer base across multiple verticals, invest in technology development, and to further scale our company to meet demand for our product around the world.”
Customers include such major brands as Merck, Columbia Sportswear, Brocade, Mahindra and Orica. These companies are transforming their supply chains with cloud applications that integrate data from ERP and other data sources, and provide almost immediate end-to-end supply chain visibility in an easy to use, intuitive self-service platform.
“CRM, HR and IT have all moved to the cloud, but ERP and supply chain applications represent some of the most lucrative and largely untapped opportunities for software-as-a-service companies,” said Jon Sakoda, general partner at NEA and FusionOps director. “FusionOps has met the complex supply chain needs of some of the largest companies in the world, delivering next generation business intelligence in the cloud.”
The company has combined its proprietary multi-tenant cloud-based big-data BI business intelligence stack with expertise in supply chain performance. It has simplified the process of making sense of massive amounts of supply chain data, enabling both bottom and top line improvement.
“There are many BI tools in the market today but companies are still struggling with how to leverage their data to drive supply chain performance,” said Shariq Mansoor, chief technology officer of FusionOps. “FusionOps is addressing this challenge by combining deep supply chain knowledge with the world’s most advanced platform to deliver supply chain analytics not possible before. This funding will allow us to extend our lead and deliver tremendous customer value.”
• FusionOps also announced its Salesforce.com application that gives sales teams more customer information. This includes ordering information, customer service levels and inventory availability in easy-to-read dashboards and infographics.
Additionally, the company announced support for Oracle’s EPS enterprise business suite. Using FusionOp’s cloud application, Oracle EPS customers can increase the performance of their supply chain by leveraging their transactional data in their Oracle ERP. The cloud-based analytics deliver visibility into this data through interactive analytics dashboards and reports.